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A strong economy can mask underlying problems at a small business. When the next recession hits — and historically speaking, it’s already overdue — will your business be healthy enough to not only survive, but possibly even thrive? It can be — but only if you have the right plan in place. Be Ready When […]
For those businesses that are ready to take the next step, they often quickly realize they need more capital. Traditionally, they would do that by getting a business loan. But how do you obtain a loan in today’s marketplace? Borrowing money is one of the most common sources of funding for a small business, but […]
The Small Business Development Center at the University of North Florida will present a loan panel on October 3rd, featuring representatives from two of the most prolific lenders in Florida. The panel will be held from 5:00 p.m. to 6:30 p.m.at University Center at UNF. The registration cost is $10. Fred Crispen from Borrego Springs […]
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 […]
America’s Recovery Capital (ARC) Loan Program is a new temporary guaranteed-loan program authorized by the American Recovery and Reinvestment Act of 2009 (the Recovery Act) (P.L. 111-5, 123 Stat. 115) enacted on February 17, 2009. ARC Loans provide small businesses access to the capital needed to drive economic recovery and to retain jobs. ARC Loans […]
In one of the first signs of economic recovery for small businesses in Florida, SBA 504 loans statewide nearly doubled from April through June over the first quarter of 2009. According to the most recent figures from the Small Business Administration (SBA), 113 small businesses took advantage of the 504 program for real estate and […]
According to an article published by the Suwannee Democrat, First Federal Bank of Florida has joined the ranks of local banks offering Small Business Administration ARC Loans. First Federal President Keith Leibfried explained, “ARC loans may be used to pay on mortgages, secured and unsecured loans, lines of credit and credit cards if the debt […]
The press services are abuzz with talk out of the White house that the government may use returned bank bailout money to make funds available to small businesses. The current lending environment is almost non existent as banks lick their wounds and resist full participation in the risky but guaranteed SBA ARC loan program. According […]
Rachel Witkowski writes in the Jacksonville Business Journal this week that not all banks are jumping on the ARC loan bandwagon. We are seeing a lot of activity and have been providing technical asssistance to applicants daily. Check the UNF Small Business Blog often for program updates. Most bankers have either turned down or tiptoed […]
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