President Obama: New SBA Guidelines

We have already implemented the changes announced below by the SBA Acting Administrator of Recovery Efforts to assist all our clients in getting SBA loans closed faster, easier and at lower costs. Don’t hesitate to call or email us to see how we might be able to assist you and your business in receiving some of the additional Stimulus Bill money that has been made available thru the Small Business Administration.

Visit our web site at http://CommercialLendingPros.com

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U.S. Small Business Administration

-- News Release --

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Release Date: March 16, 2009
Contact: Mike Stamler (202) 205-6919
Release Number: 09-17
Internet Address: http://www.sba.gov/news

Statement from SBA Acting Administrator on Recovery Efforts Announced by President Obama Today

WASHINGTON – The following statement was issued today by Acting Administrator Darryl K. Hairston of the U.S. Small Business Administration following the announcement by President Barack Obama of important steps being taken by the SBA and the U.S. Department of Treasury to address the economic challenges facing small businesses and entrepreneurs across the country.
“U.S. small businesses employ about half our nation’s workers and over the last decade have created about 70 percent of all new jobs. But their access to credit and lending markets has dried up, making it harder every day for small businesses to keep their doors open and their employees working. American small businesses are one of the strongest engines for economic prosperity in the world, and we can’t let this crisis continue to undermine their growth and potential. Today President Obama reiterated his belief that we owe it to America’s small businesses to be the partner they need in the midst of this crisis. At SBA, we couldn’t agree more.

“SBA this week is implementing two key provisions laid out in the Recovery Act – we are temporarily eliminating certain loan fees and raising guarantees on some 7(a) loans up to 90 percent. With these critical steps by SBA, and the Treasury Department’s commitment of up to $15 billion aimed at getting lending markets flowing again, we are standing up with small business owners across this country and telling them how we are going to put much-needed capital in their hands.

“We hope small businesses will take the opportunity to ask their banks about the SBA loans that might be available to them. And, we encourage community banks and other lenders to work with us to reach as many qualified borrowers as we can during these difficult times.”
Beginning today, the SBA will:

• Temporarily raise guarantees to up to 90 percent on SBA’s 7(a) loan program, through calendar year 2009, or until the funds are exhausted. This increase in guarantee levels will help provide banks with the greater confidence they need to extend credit during the current recession, will mean more capital available to small business owners around the country.
  
• Temporarily eliminate fees for borrowers on SBA 7(a) loans and for both borrowers and lenders on 504 Certified Development Company loans, through calendar year 2009, or until the funds are exhausted. This will mean more capital available to small businesses at a lower cost. The fee elimination is retroactive to February 17, the day the Recovery Act was signed. SBA is developing a mechanism for refunding fees paid on loans since then.
  

Additionally, the President announced today that the Treasury Department will commit up to $15 billion to help unlock the frozen credit markets by purchasing small business loan securities currently frozen on the secondary market. By purchasing these securities, it will unlock these secondary markets, and in turn, free up more capital to jumpstart lending for small business owners. The SBA has worked closely with the Treasury Department to address the need to unlock these secondary markets for SBA loans.

For more information on the SBA and Treasury initiatives announced today by the President, visit the SBA Web site at http://www.sba.gov/.

Call us TODAY at 863-298-8900 or visit our web site at http://CommercialLendingPros.com if your loan has been denied by another lender.

Investment Opportunity: Exciting Medical Jobs Marketplace

Medical JobMarketplace.com (MJM) is an exciting new medical job marketplace for employers to find staff and for job seekers to find jobs. The site is competitive in size and scope and has the capacity to multiply servers within 2-14 days as the site grows. The site has a 12 million IP Appraisal on it and is current as of February 2009 and is based on the website as it sets now.

MJM once in full operational swing should generate 6M the first year 8M the second year and 11M the third year. Its style and offering is competitive with the likes of www.careerbuilders.com and www.monster.com; the website revenues are at 768,000,000.00 in a bad economy with annual reports ending December of 2008.

The owner has 29 years of experience operating a medical recruitment company and has key national contacts in the medical industry that will move the website forward. This was one of the motivations for developing this website. There is no other website in the industry like the MJM website in the medical / healthcare field.

The website IP address is: http://www.medicaljobmarketplace.com

Expansion funding is being sought in the amount of 2.5M in return for either 25% equity position in the corporation or a rate of return of investment at 12% over a 3-5 year period. Owner would like to buy back the 25% in 3-5 years based on pre-defined terms if that can be worked out. Owner will negotiate in the effort of getting this funding. Owner is aggressively seeking this capital as of March 2009.

The 2.5M includes debt service payments in the amount of 18,500.00 per month for the next 3 years with balloon note at the end of term. This was done to provide guarantee of debt service ability for the next 3 years.

If you are interested and would like a copy of the IP/website appraisal please email sandersen@nhhcc.org or call Sherry Andersen at 904-683-7564 or call Tony DeCresie at 863-298-8900, eFax 863-877-4456 or call cell at 863-833-3132 as Tony and his company are assisting Ms. Andersen in facilitating exposure and mediation-broker services in getting this funding.
The owner would consider selling the website at the appraised value. Owner is Industry savvy and understands the value of the website.

American Recovery and Reinvestment Act of 2009

As part of the American Recovery and Reinvestment Act of 2009, signed by President Obama on February 17th, the Small Business Administration has been allocated $730 million intended to fund fee reduction, program policy changes and new loan programs that will collectively help to provide immediate financing assistance to small business owners. While the program and policy procedures have not yet been finalized by the agency, the following incentives were announced:

1. $375 million for temporary fee reductions or eliminations on SBA loans for the 7(a) Guaranty and 504 Loan Programs, as well as an increased SBA- loan guaranteed percentage up to 90% for certain loans
2. $255 million for a new SBA loan program which would provide up to $35,000 in guaranteed financing to help small businesses meet existing debt payments.
3. $30 million for expanding the SBA Microloan Program through new lending and technical assistance grants to participating micro lenders
4. $20 million for technology systems to streamline SBA’s lending and oversight processes
5. $15 million to expand the SBA’s Surety Bond Guarantee Program
6. $25 million for increased staffing
7. $10 million for the Office of Inspector General

The SBA is working quickly to develop the policies necessary to implement the provisions of this act. As soon as the details are in place, http://CommerialLendingPros.com will provide an update.

For detailed information or a specific quote on a loan scenario, give us a call at: 863-298-8900 or 813-833-3132 Or to fill-out a quick loan scenario Pre-Qualification form visit: http://commerciallendingpros.com.