Archive for the ‘Small Business Loans’ Category

SBA loan fees returning

February 22nd, 2010 admin

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…

The Small Business Administration (SBA) has announced plans to simultaneously wind down the temporary enhancements for the 504 and 7(a) programs and bring both programs back to pre American Recovery and Reinvestment Act (ARRA) terms.

In December, Congress and President Obama extended the temporary elimination of most up-front program fees for 504 and 7(a) loans as well as an increased guaranty percentage on 7(a) loans.

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Small Business Lending Making a Comeback?

January 5th, 2010 admin

It appears that the SBA is showing an increase in the number of government backed loans.

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SBA ARC Loans in Northeast Florida

June 30th, 2009 admin

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 cautiously into a new small-business relief loan program despite heavy demand pouring in from struggling businesses.

The U.S.

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SBA 504 Loan Now Allows Refinancing

June 25th, 2009 admin

Raymund Flandez of the Wall Street Journal continues to keep us informed on program changes in SBA financing. The SBA 504 program has recently been changed to allow for refinancing. SBA 504 is a popular fixed asset financing program that is guaranteed and requires a smaller cash injecture from the borrower than normal. Contact the UNF SBDC for program details.

Here is a free self paced training program called Finance Primer:Guide to SBA Loan Guaranty Programs

SBA Tweaks Rules of 504 Program

In its latest effort to help cash-strapped entrepreneurs, the Small Business Administration on Wednesday permanently changed a key loan program so that businesses can refinance if they plan to expand or buy equipment.

Previously, business owners could only take advantage of the SBA’s 504 program when they sought new loans to buy real estate, upgrade machinery and make improvements.

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ARC Loans: Not Everyone Will Get One..

June 24th, 2009 admin



Mark Deo writes in this Reuters piece (with a nod to Entrepreneur.com) about the hesitancy of banks to play in the SBA’s ARC loan arena.

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The SBA plans to release a partial lender list of ARC loan participants by Monday

June 20th, 2009 admin

Known participating banks in the SBA ARC loan program as of June 20th:
Here is a Wall Street Journal article written by Raymund Flandez that adresses the current Arc lending situation.

SBA Offers Aid to Cash-Strapped

The Rub: Some Big Banks See the Reward as Too Small for the Paperwork

The emergency loan program launched in the past week by the Small Business Administration is designed to give established businesses some breathing room to pay principal and interest payments on existing debt.

Borrowers, however, may find it difficult to find a bank that is providing the “America’s Recovery Capital” interest-free loans.

Some big lenders including Bank of America Corp., KeyCorp’s Key Bank unit and Toronto-Dominion Bank, or TD Bank Financial Group, are still on the fence about participating, citing concerns about heavy paperwork and strict rules on applicant eligibility.

“The general consensus is that the lenders aren’t too excited about it,” says Bob Coleman, publisher of “The Coleman Report,” a La Canada, Calif.-based trade publication for SBA lenders.

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SBA Small Business Loans :ARC Loan Update

June 18th, 2009 admin

The SBA’s ARC Loan program started June 15th. As of today it is known that Wachovia Bank, Regions Bank, and BB&T are participating. It is thought that Suntrust and Banco Popular may also be a participating bank but this is not confirmed. Contact the bank directly to get a loan application. Contact your own bank and ask if they are participating.
We believe that these banks are only doing ARC Loans for existing account holders.

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Small Business Administration ARC Loan Program Rules to be published June 8th

June 6th, 2009 admin

On June 8, the SBA will publish regulations for its new ARC loan program. On June 15, 2009, SBA will formally open the new temporary loan program. ARC loans of up to $35,000 can be used to make payments of principal and interest, in full or in part, on one or more existing, qualifying small business loans for up to six months.

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