As a certified consultant with the SBDC, I see hundreds of businesses each year coming in looking for a loan. Some of these businesses have already been declined by a lender and don’t understand why. In today’s markets lenders are very conservative and SBA loans are a great option for those businesses. There are several […]
Thanks to Florida First Capital Finance Corporation for this update that indicates the funds for eliminating soft costs for SBA 7a and 504 loans are exhausted so we are returning to the pre-ARRA regulations unless the Obama jobs bill is passed. The bill includes a provision to eliminate loan fees through September 2010. Read on… […]
It appears that the SBA is showing an increase in the number of government backed loans. In the last quarter of 2009, the SBA backed over 12,000 7a loans as compared to the same quarter in 2008 where the total was only 9,000. While encouraging, the last quarters numbers are quite a bit lower than […]
Marcia Hiroux Pounds writes in the Sun-Sentinel that there is a great deal of frustration on the part of small businesses in South Florida that banks are not lending at a time when they need it most. This pretty much mirrors what is happening in Northeast Florida as well. Borrego Springs Bank, while not participating […]
As the SBA continues to prod banks to do more lending in the small business community-at-large, thy are giving awards to banks who have been participating right along. Here are the winners as reported by Kelly Faircloth for Inc. Magazine. The Small Business Administration recognized financial institutions devoted to helping small firms through their lending […]
We are hoping that there is relief in sight so that our clients at the UNF SBDC have better access to loans. The U.S. Small Business Administration is the smallest Federal agency in our government and this may well be a part of the problem. Another issue may be that the SBA’s team surrounding Administrator […]
Ron Reuss, President of GulfCoast Business Finance, has sent out this summary of SBA 504 loan related items that are part of the stimulus package that was just signed into law. SBA 504 allows businesses to buy building and or equipment. Go here for more information on SBA 504, or read what we have on […]
It looks like the SBA loan programs so heavily weighed down from applied fees are getting help. SBA loans are desperately needed by businesses in the Jacksonville area to stay afloat and reshape their business model for the coming recovery. Many local banks are not making SBA loans as they have had trouble selling them […]
Joe Nocera has a blog in the New York Times called Executive Suite, and can also be heard on NPR. He has had what he calls an Anonymous Banker writing to him. Todays Topic: Why Are S.B.A. Loans Disappearing?By Joe Nocera Anonymous Banker, who is fast becoming Executive Suite’s new best friend, is back, this […]
We’re seeing a real downturn in the number of banks interested in doing business loans including SBA loans. If you are in startup mode, its going to be even harder. The Small Business Administration last week encouraged banks that participate in SBA lending to be more willing to do loans and not rush to call […]
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