Small Business Lending Fund Finally Begins Disbursements – Austin Business Journal
Pioneer Bank received more than $3 million for its Small Business Lending Fund program. The U.S. Department of the Treasury provided the capital in exchange for preferred stock. Pioneer Bank topped the Austin Business Journal's "Fast 50" list last year for growth among companies with less than the $10 million revenue. The lender increased revenue 418 percent from 2007 to 2009. The federal Small Business Lending Fund was created as part of the 2010 Jobs Act. The $30 billion program is meant to encourage small business lending to qualified community banks though incentives. . . . keep reading about Small Business Lending
Pioneer Bank received more than $3 million for its Small Business Lending Fund program. The U.S. Department of the Treasury provided the capital in exchange for preferred stock. Pioneer Bank topped the Austin Business Journal's "Fast 50" list last year for growth among companies with less than the $10 million revenue. The lender increased revenue 418 percent from 2007 to 2009. The federal Small Business Lending Fund was created as part of the 2010 Jobs Act. The $30 billion program is meant to encourage small business lending to qualified community banks though incentives. . . . keep reading about Small Business Lending
The federal Small Business Lending Fund was created as part of the 2010 Jobs Act. The $30 billion program is meant to encourage small business lending to qualified community banks though incentives. Unfortunately, its not enough! The article featured above reports that Pioneer Bank received more than $3 million for its Small Business Lending Fund program. We have businesses that need millions of dollars and banks are not lending.
On Friday, we closed a $6.4 Million loan through our in-house lending facility for one of the largest re-modeling contractor companies in the country. That loan will pay off a bank loan and will free up credit lines to help him handle the huge orders he just received that are going to add millions to his bottom line. That leads to more jobs and more growth. A broker brought the deal to us. We split the one point fee and we locked the client in at 5.11% fixed for 5 years – WOW! And I did almost all the work on the file! This guy is a multi-millionaire with a strong company and is a strong borrower with millions in the bank and he could not get funded locally and ended up with a broker. Lucky for him, that broker found us.
We can get deals closed. Our Company Mission Statement is this, "Commercial Capital brings funding sources from around the country to the local business owner and investor to help keep this economy moving!" WE ARE SERIOUS ABOUT IT.
WHAT WE DO IS IMPORTANT. WHAT WE DO IS NEEDED. THE
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Commercial Capital Limited
Commercial Capital Limited
Florida Real Estate & Commercial Loans, Inc.
Tel: 863-298-8900
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