BOARD AGENDA: 1/13/09 ITEM: 7.1 THE REDEVELOPMENT AGENCY OF THE CITY OF SAN JOSE AGENCY FROM: HARRY S. MAVROGENES BOARD EXECUTIVE DIRECTOR

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "BOARD AGENDA: 1/13/09 ITEM: 7.1 THE REDEVELOPMENT AGENCY OF THE CITY OF SAN JOSE AGENCY FROM: HARRY S. MAVROGENES BOARD EXECUTIVE DIRECTOR"

Transcription

1 BOARD AGENDA: 1/13/09 ITEM: 7.1 THE REDEVELOPMENT AGENCY OF THE CITY OF SAN JOSE MEMORANDUM AGENCY FROM: HARRY 1 S. MAVROGENES BOARD EXECUTIVE DIRECTOR SEE BELOW DECEMBER 19,2008 SUBJECT: REVISIONS TO THE SMALL BUSINESS LOAN PROGRAM GUIDELINES RECOMMENDATION It is recommended the Redevelopment Agency Board approve revisions to the guidelines for the Small Business Loan Program (SBLP) to better serve the needs 7 of businesses in Downtown, Neighborhood Business Districts (NBD), Strong Neighborhood Initiative (SNI) Areas and Neighborhood Business Clusters (NBC). OUTCOME Approval of the proposed revised SBLP guidelines (Attachment B) will allow the SBLP to more effectively support the ground-level retail small businesses in the Redevelopment Project Areas and will leverage and support other Redevelopment small business technical assistance programs that support the Agency's Downtown and Neighborhood Business District retention and expansion efforts. BACKGROUND On June 25,2002, the San Jose City Council and Redevelopment Agency Board approved the SBLP and the set of lending guidelines (Attachment A) that set forth the terms by which the SBLP would make loans to small retail businesses. The purpose of the program was to strengthen and improve the retail environment in the Downtown and NBD's. Additionally, new strategies to diversify the mix of retail tenants in the project areas were implemented by staff. The availability of financing to these small businesses was an important factor to successfully implement these strategies. SBLP Guidelines

2 Redevelopment Agency Board SBLP GUIDELINES Page 2 December 19,2008 Funding for SBLP was provided by the Redevelopment Agency?om 2002 until July The Office of Economic Development (OED) administered the SBLP through a Project Services Memorandum. The SBLP will continue to be funded by non tax increment sources of revenue, which will allow SBLP funds to be used for operating and business expenses not typically eligible for Redevelopment assistance. In July 2008, the SBLP program and the staff responsible for administering the program were transferred to the Agency, along with the Enterprise Zone program and staff. The Agency now administers both the SBLP and the Enterprise Zone program. These programs are key tools used by staff for outreach and retention programs. - to attract and retain businesses. Other tools used include the Facade Improvement Program, the Signage Grant Program, retail business planning technical assistance and restaurant operations advisory services. Staff meets with businesses, assesses their needs and refers them to the appropriate technical assistance program. The SBLP was initially approved for an allocation of $2,000,000 in FY as stated in Attachment A. However, the actual amount funded by the Agency was $500,000 due to budget limitations. Twelve loans to downtown retail businesses were immediately issued for a total of $490,000 in FY In FY an additional $250,000 was made available and eight additional loans were approved. In FY a final $250,000 was made available to the SBLP program, for a total funding since inception of $1,000,000. Principal and interest pay-offs, plus the FY allocation, constitute the current fund balance available for loans of approximately $750,000; sufficient for approximately 15 loans. To date, the SBLP has provided twenty loans to retail businesses. Eleven of the loans have been repaid in full and eight loans are active and making monthly payments. Only one loan, to a restaurant, has defaulted and, as a result, is now being reviewed by staff and the City Attorney's office. Relative to other small business loan programs, the default rate of the SBLP is considered very low. The Small Business Administration (SBA) fully expects up to 50% default after the first two years of operations, while banks typically operate with an expected default rate of 1% to 3% for their high-risk small retail business loans. A loan default rate of 15% is typically considered to be an acceptable risk for community-based commercial loan programs. As noted, only one of the 20 loans issued to date by the SBLP has defaulted and it is still under review. The SBLP program's relative success is primarily due to the careful assessment of the businesses applying for loans. SBLP Guidelines

3 Redevelopment Agency Board SBLP GUIDELINES Page 3 December 19,2008 ANALYSIS The SBLP Lending Guidelines were approved in 2002 by the City Council and the Agency Board. These guidelines set the terms and conditions for the program with respect to loan rates, terms, lending amounts, eligibility, use of funds and how the program is administered and operated. Currently SBLP loans can be used for any normal business uses such as equipment, inventory, fixtures, furniture, supplies, refinancing high interest credit card business debt and working capital. The loans cannot be used for payment of taxes, personal notes of the owners, real estate financing or speculative investments. These loans can be combined with other loan programs such as the Opportunity Fund (previously known as Lenders for Community Development), the Small Business Administration loan programs, Facade Improvement Program Grants or Sign Grants. To better respond to market changes and the needs of retail businesses, the SBLP would benefit from greater flexibility with respect to specific lending terms, especially in light of recent fluctuations in the financial market. Staff is recommending the following revisions to the guidelines to better serve the needs of businesses and respond to market changes: Expand the service area to include Strong Neighborhood Initiatives (SNI) - areas and Neighborhood Business Clusters (NBC). Increase the maximum amount that can be loaned from $40,000 to $50,000. The maximum term of the loan will remain unchanged (up to ten years). Authorize the Executive Director to adjust the interest rate as warranted by market conditions up to a maximum of three percent. Require that a business loan recipient remain in one of the City's Redevelopment Project Areas dulillg the term of the Loan. If the business moves out of the project area, the note is subject to being recalled. This provision is necessary to ensure that Redevelopment funds are being used to benefit Redevelopment Areas as required by California Community Redevelopment Law. Expand the underwriting criteria used to evaluate the loans. It is recommended the SBLP loan use the five "C's" of credit used by the banking industry in evaluating each application. The criteria include cash flow, SBLP Guidel~nes

4 Redevelopment Agency Board SBLP GUIDELINES Page 4 December 19,2008 capacity, credit, collateral and character. More emphasis will now be placed on capacity and cash flow to provide a platform for extending technical and financial assistance. Expand the pool of applicants toajlow loansmo>ki-up & s&~s.~ current^-~ guidelines require that a retail business must be in operation at least one year to be eligible for a loan. This policy has precluded the eligibility of many start-up businesses that are located in or want to locate in Redevelopment Areas and can demonstrate they are a good credit risk. By using the 5 "Cs" of credit analysis previously mentioned, risk levels with start-up businesses can be minimized. In addition, extensive technical assistance will be provided to the start-up business during the loan application process. Create a new loan advisory committee titled the Credit Advisory Committee (CAC) to replace the Funding Advisory Board and to assist staff in reviewing and approving loan applications. The CAC will be comprised of the Agency's Director of Finance, the Director of Downtown Management and Industrial Development and the Senior Vice President of Focus Bank, which is located in the Downtown. Focus Bank was selected due to its 20 years of experience making loans to small businesses and, in particular, the Vice-President's prior experience on another community-based credit committee. In the event that Focus Bank's Vice President becomes unable to serve on the CAC, the Agency's Executive Director will select a qualified replacement. The size of the committee is kept small and the loan review process streamlined to ensure that businesses can be served in a timely and efficient manner. EVALUATION AND FOLLOW-UP Updates will be provided to the Agency Board as part of the Agency's Quarterly Projects Status Report. PUBLIC OUTREACHIINTEREST The proposed action does not meet any of the criteria for added outreach efforts. This staff report will be posted on the Agency's website and made available for public review in the Agency's public lobby area. 0 Criterion 1: Requires Council action on the use of public funds equal to $1 million or greater. SBLP Guidelines

5 Redevelopment Agency Board SBLP GUIDELINES Page 5 December 19,2008 Criterion 2: Adoption of a new or revised policy that may have implications for public health, safety, quality of life, or financial/economic vitality of the City. Criterion 3: Consideration of proposed changes to service delivery, programs, or staffing that may have impacts to community services and have been identified by staff, the Board or Council, or a community group that requires special outreach. COORDINATION This proposed action has been coordinated with the Agency's General Counsel. FISCAL IMPACT Funding is provided in the Agency's Adopted FY Capital Budget, Merged Area, Small Business Loans Program, Downtown Business Improvement & Loans project line. Any increase in loan interest rates will result in higher interest income. Not a project. p HA Y S. MAVROGENES Executive Director SBLP Guidelines

6 ATTACHMENT A GUIDELINES APPROVED BY CITY COUNCIL 2002 THE REDEVELOPMENT AGENCY OF THE CITY OF SAN JOSE SAN JOSE OFFICE OF ECONOMIC DEVELOPMENT Small Business Assistance Loan Program The San Jose Office of Economic Development and the San Jose Redevelopment Agency propose a $2 million Loan Fund to provide 3% financing up to $40,000 per loan with flexible terms for retail businesses located in the Downtown Core or in Neighborhood Business Districts that have experienced declining or stagnant sales during the last year. The program intends to fill a financing gap, not currently available from other governmental or private sector loan programs, for small businesses to stabilize or to undertake expansion plans in a more difficult economic environment. The program is being funded by the San Jose Redevelopment Agency and administered by the San Jose Office of Economic Development. This program is an extension of their existing Development Enhancement Special Fund, but with more flexible underwriting criteria. Loans are reviewed and approved by the Fund Advisory Board, which is comprised of banking, small business, and community and city representatives. Technical Assistance will be provided to any applicant who requests it. The Entrepreneurial Center, the Hispanic Chamber of Commerce, the Vietnamese Chamber of Commerce or the Office of Economic Development staff will provide technical assistance. Eligibility Criteria Any retail small business operating in the Downtown Core or a Neighborhood Business District (West San Carlos, Story Road, Alum Rock, East Santa Clara, Monterey Corridor, The Alameda or Japantown) is eligible to apply. Only those businesses that have been in operation for a minimum of one-year in an eligible area can apply. A business must be able to show that it is: 9 Currently breaking even; or 9 Profitable; or 9 Were profitable for a majority of the last three years and having a net loss for no more than the last six months.

7 An applicant must either be a tenant, a subtenant, or the owner of the space they are in. An applicant must meet the Small Business Administration (SBA) definition of a small business based on total annual receipts or number of employees (excerpt attached). No more than one application will be permitted for any given business owner. An applicant must have a written plan on how they intend to stabilize or grow their revenue. If an applicant is applying for more than one loan from OED, only one application will be required. The Fund Advisory Board and OED will review and, if approved, underwrite the loans as one assistance whenever possible. Applicants should contact OED staff before submitting their SBLP application to discuss whether they may be eligible for other loans or small business assistance. Loan Terms Loans can be for between $1,000 and $40,000 and will carry an interest rate of 3% simple interest. Loans can be for between two and ten-year terms. The first two years may be interest only, at the discretion of the Fund Advisory Board. The loan will become due upon the business ceasing to operate in the City of San Jose, any violation of the loan agreement, or at the end of its term. Loan payments will be due at the first of each month, if payments are not received by the 10" of the month a late charge of 5% will be added to that monthly payment. The business may be asked to provide collateral of at least 50% of the loan amount. The collateral may be personal or real property. The SBLP loan will take second or third position to any private existing lien. There are no fees or points for this loan. If collateral is not available, the Fund Advisory Board may approve the loan without collateral. Applicants must submit: 9 Application; page plan that describes the process for achieving business stabilization or growth (must include current and anticipated future revenue and expenses); and 9 A budget for utilization of the SBLP funds. 9 Applicants must also submit a copy of their lease/sublease/ownership documentation and most recent IRS tax returns.

8 Eligible Uses for Loan Proceeds Loan proceeds can be used for: Purchasing inventory and equipment; Physical improvements to a retail store; Repayment of credit card or other high interest debt that is directly attributable to the business (up to 50% of the loan amount); Advertising or promotional campaigns; Overhead, including staff salaries and rent (not to exceed 50% of the loan amount); Other reasonable costs that enable the business to meet its articulated growth goals.

9 ATTACHMENT B SBLP GUIDELINES - DECEMBER 2008 THE REDEVELOPMENT AGENCY OF THE CITY OF SAN JOSE Small Business Assistance Loan Program The San Jose Redevelopment Agency (SJRA) is providing a small business loan program (SBLP) for the purpose of assisting small storefkont retail businesses in Redevelopment Project Areas only. Small storefront retail business in the Downtown, Neighborhood Business Districts (NBD), Strong Neighborhood Initiatives (SNI) and Neighborhood Business Cluster (NBC) Redevelopment Project Areas in San Jose are eligible to apply. The maximum loan amount is $50,000. This special loan can be combined with other private and governmental loans or grants to fund business assets. Loan proceeds can be used for equipment, working capital, inventory, furniture & fixtures, and other reasonable businesses uses consistent with the goals of increasing sales tax revenues in San Jose and creating an economically viable small business climate in downtown and neighborhoods. Eligibility Criteria Any small storefi-ont retail business, start-up or existing, located in the Downtown, NBD, SNI and Neighborhood Business Cluster (NBC) Redevelopment Project Areas is eligible to apply. An applicant must either be a tenant, a subtenant, or the owner of the space they are in. An applicant must meet the Small Business Administration (SBA) definition of a small business based on total annual receipts or number of employees. Applicants must provide financial and other related documentation as described in the loan application checklist. Applicants must have a written business plan on how they intend to stabilize or grow their revenues. Applicants must be able to show that the business meets one of the following criteria: (a) currently breaking even or making a profit; (b) was profitable for a majority of the last three years and has a net loss for no more than the last six months; or (c) is a start-up business that is a good credit risk. The Agency's Credit Advisory Committee will review applications based on the Agency's underwriting guidelines. SBLP assistance may be combined with other forms of assistance.

10 Loan Terms Loans can be for any amount up to $50,000. The maximum loan term is ten years. There are no fees or points for these loans. Loans will have a fixed interest rate set by the Agency Executive Director, not to exceed three percent (3%) per annum. Accrual of interest and commencement of repayment of the Loan may be deferred for up to 60 days for the convenience of the Agency. The first two years may be interest only, at the discretion of the Credit Advisory Committee. The loan will become due upon the business ceasing to operate in one of the Redevelopment Areas, or for any violation of the loan agreement. If the business is sold or closed, the loan is due and payable in full. Loan payments will be due at the first of each month; if a payment is not received by the loth of the month a late charge of 5% of the amount due will be added to that monthly payment. The business may be asked to provide collateral of at least 50% of the loan amount. The collateral may be personal or real property. The SBLP loan may take second or third position to any private existing lien. If collateral is not available, the Credit Advisory Committee may approve the loan without collateral. Personal or Corporate guarantees may be required. Eligible Uses for Loan Proceeds Funds provided under the SBLP may be used for the following types of uses: Equipment Working capital Inventory Furniture & Fixtures Refinancing high interest credit card debt used for business Other reasonable business uses. Funds provided under the SBLP may NOT be used for the following types of uses: Speculative investments Shareholder loan repayments Financing tax payments Real Estate financing. Additionally, funds provided under the SBLP may not be used for "construction, alteration, demolition, installation, or repair work done under contract".

11 Financial Guidelines All loans should meet the following underwriting standards, unless waived at the time of approval by the Credit Advisory Committee: Fully amortizingjat least 1 : 1 positive cash flow coverage/collateral Ratio 1.5:1/Current ratio 1: llleverage 4: 1 maximum. The Applicant should not have filed a Bankruptcy within the past three years.

BOARD AGIINDA: 4121109 ITEM: 3.1 THE RELIEVELOPMENT AGENCY OF TIE CITY 01;: SAN JOSE DATE:

BOARD AGIINDA: 4121109 ITEM: 3.1 THE RELIEVELOPMENT AGENCY OF TIE CITY 01;: SAN JOSE DATE: BOARD AGIINDA: 4121109 ITEM: 3.1 THE RELIEVELOPMENT AGENCY OF TIE CITY 01;: SAN JOSE MEMORANDUM REDEVELOPMENT AGENCY BOARD SU13JECT: SEE BELOW DATE: HARRY S. MAVROGENES EXECUTIVE DIRECTOR APRIL 9,2009

More information

I BOARD 1 EXECUTIVE DIRECTOR 1

I BOARD 1 EXECUTIVE DIRECTOR 1 BOARD AGENDA: 1/26/10 ITEM: 7.1 THE REDEVELOPMENT AGENCY OF THE CITY OF SAN JOSE MEMORANDUM I BOARD 1 EXECUTIVE DIRECTOR 1 SUBJECT: SEE BELOW DATE: JANUARY 14,20 10 I SUBJECT: UPDATED SMALL BUSINESS LOAN

More information

Item 7.1, September 10, 2002

Item 7.1, September 10, 2002 Item 7.1, September 10, 2002 SUBJECT: AMENDMENT TO SMALL BUSINESS LOAN PROGRAM TO ASSIST DOWNTOWN AND NEIGHBORHOOD BUSINESS DISTRICTS BUILDING OWNERS AND TENANTS RECOMMENDATION It is recommended that the

More information

Building Up Business Loan Program Overview

Building Up Business Loan Program Overview Building Up Business Loan Program Overview The Building Up Business Loan Program is sponsored and administered by Wheat Ridge 2020, Inc., with the goal of improving the economic vitality and appearance

More information

Building Up Business Loan Program Overview

Building Up Business Loan Program Overview Building Up Business Loan Program Overview The Building Up Business Loan Program is sponsored and administered by Wheat Ridge 2020, Inc., with the goal of improving the economic vitality and appearance

More information

URA / Bridgeway Capital Workshop for Mainstreets Managers. Tom Link, Manager, Business Development Center. May 15, 2009

URA / Bridgeway Capital Workshop for Mainstreets Managers. Tom Link, Manager, Business Development Center. May 15, 2009 URA / Bridgeway Capital Workshop for Mainstreets Managers Tom Link, Manager, Business Development Center Please take away from this workshop. A process and tool to work better and more efficiently with

More information

Franklin-Southampton Economic Development, Inc. and the SunTrust Foundation Small Business Loan Guidelines

Franklin-Southampton Economic Development, Inc. and the SunTrust Foundation Small Business Loan Guidelines Franklin-Southampton Economic Development, Inc. and the SunTrust Foundation Small Business Loan Guidelines Program Sponsors and Key Stakeholders The Micro Loan Program (MLP) is sponsored by the SunTrust

More information

BOARD AGENDA: 8/25/09 ITEM: 6.1 THE REDEVELOPMENT AGENCY OF THE CITY OF SAN JOSE DATE:

BOARD AGENDA: 8/25/09 ITEM: 6.1 THE REDEVELOPMENT AGENCY OF THE CITY OF SAN JOSE DATE: BOARD AGENDA: 8/25/09 TEM: 6.1 THE REDEVELOPMENT AGENCY OF THE CTY OF SAN JOSE MEMORANDUM SUBJECT: REDEVELOPMENT AGENCY SEE BELOW DATE: HARRY S. MAVROGENES EXECUTVE DRECTOR AUGUST 11,2009 SUBJECT: LEASE

More information

THE REDEVELOPMENT AGENCY OF THE CITY OF SAN JOSE DATE:

THE REDEVELOPMENT AGENCY OF THE CITY OF SAN JOSE DATE: BOARD AGENDA: 6/23/09 TEM: 3.1 THE REDEVELOPMENT AGENCY OF THE CTY OF SAN JOSE MEMORANDUM SUBJECT: REDEVELOPMENT AGENCY BOARD SEE BELOW DATE: HARRY S. MAVROGENES EXECUTVE DRECTOR JUNE 1 1,2009 SUBJECT:

More information

Revolving Loan Fund for Commercial Development Summary*

Revolving Loan Fund for Commercial Development Summary* Owatonna Economic Development Authority (EDA) City of Owatonna Revolving Loan Fund for Commercial Development Summary* Program Purpose: How It Works: Project Eligibility: Minimum Requirements: Use of Funds:

More information

Plan and Track Your Finances

Plan and Track Your Finances Plan and Track Your Finances 9.1 Financing Your Business 9.2 Pro Forma Financial Statements 9.3 Recordkeeping for Businesses Lesson 9.1 Financing Your Business Goals Estimate your startup costs and personal

More information

LOAN. Program Guide SMALL BUSINESS. ECONOMIC DEVELOPMENT Phone: 916.478.3690 Fax: 916.691.3168 elkgrovecity.org/econdev

LOAN. Program Guide SMALL BUSINESS. ECONOMIC DEVELOPMENT Phone: 916.478.3690 Fax: 916.691.3168 elkgrovecity.org/econdev SMALL BUSINESS LOAN Program Guide Funded by City of Elk Grove with Community Development Block Grant (CDBG) Funds ECONOMIC DEVELOPMENT Phone: 916.478.3690 Fax: 916.691.3168 elkgrovecity.org/econdev Elk

More information

Page 1 of 9 MICROLOAN RULES AND REGULATIONS

Page 1 of 9 MICROLOAN RULES AND REGULATIONS Page 1 of 9 MICROLOAN RULES AND REGULATIONS Micro Loans will be made available to small businesses located in or locating in, the City of Darlington. The Darlington Downtown Revitalization Association

More information

SBA Programs to Help You Start & Grow Your Small Business

SBA Programs to Help You Start & Grow Your Small Business SBA Programs to Help You Start & Grow Your Small Business U.S. Small Business Administration 6501 Sylvan Road, Suite 100 Citrus Heights, CA 95610 916-735-1700 www.sba.gov 08?11 BUSINESS LOANS & THE SBA

More information

B. A current bank account in the name of the business, the business owner, or a representative capable of cashing/administering the loan award.

B. A current bank account in the name of the business, the business owner, or a representative capable of cashing/administering the loan award. Program Sponsors and Key Stakeholders The Micro Loan Program (MLP) is sponsored by the SunTrust Community Foundation and administered by Franklin Southampton Economic Development, Inc. (FSEDI). Key Stakeholders

More information

Business Financing. An Article by Michael L. Messer and Thomas L. Hofstetter SCHENCK, PRICE, SMITH & KING, LLP

Business Financing. An Article by Michael L. Messer and Thomas L. Hofstetter SCHENCK, PRICE, SMITH & KING, LLP Business Financing An Article by Michael L. Messer and Thomas L. Hofstetter SCHENCK, PRICE, SMITH & KING, LLP Even in these challenging economic times, businesses still have a need to grow and to obtain

More information

MILWAUKEE DOWNTOWN, BUSINESS IMPROVEMENT DISTRICT #21 BUSINESS DEVELOPMENT LOAN POOL (BDPL) GUIDELINES & APPLICATION

MILWAUKEE DOWNTOWN, BUSINESS IMPROVEMENT DISTRICT #21 BUSINESS DEVELOPMENT LOAN POOL (BDPL) GUIDELINES & APPLICATION MILWAUKEE DOWNTOWN, BUSINESS IMPROVEMENT DISTRICT #21 BUSINESS DEVELOPMENT LOAN POOL (BDPL) GUIDELINES & APPLICATION Created in proud partnership with BUSINESS DEVELOPMENT LOAN POOL (BDLP) Milwaukee Downtown,

More information

Understanding Financial Statements. For Your Business

Understanding Financial Statements. For Your Business Understanding Financial Statements For Your Business Disclaimer The information provided is for informational purposes only, does not constitute legal advice or create an attorney-client relationship,

More information

BUSINESS PLANS. . The best part of this is that it is free!

BUSINESS PLANS. . The best part of this is that it is free! BUSINESS PLANS A business plan is absolutely essential to the creation of a new business entity as well as the continued profitable operation of an established business. The conduct of a business in the

More information

BUSINESS LOAN PROGRAM GUIDELINES For CDBG California Community Enterprise Fund and Micro-enterprise Revolving Loan Fund (Adopted 6-19-12)

BUSINESS LOAN PROGRAM GUIDELINES For CDBG California Community Enterprise Fund and Micro-enterprise Revolving Loan Fund (Adopted 6-19-12) BUSINESS LOAN PROGRAM GUIDELINES For CDBG California Community Enterprise Fund and Micro-enterprise Revolving Loan Fund (Adopted 6-19-12) 1.0 INTRODUCTION The City of Oroville s Community Development Block

More information

SMALL BUSINESS LOAN GUIDE JANUARY 2014. A guide to help small business owners navigate the loan application process

SMALL BUSINESS LOAN GUIDE JANUARY 2014. A guide to help small business owners navigate the loan application process JANUARY 2014 A guide to help small business owners navigate the loan application process TABLE OF CONTENTS Contents WHY THIS GUIDE? 1 EQUITY INVESTMENT 2 CASH FLOW PROJECTIONS 4 WORKING CAPITAL 6 COLLATERAL

More information

SSBCI PROGRAM PROFILE: LOAN PARTICIPATION PROGRAM. May 4, 17, 2011 State Small Business Credit Initiative (SSBCI) U.S. Department of the Treasury

SSBCI PROGRAM PROFILE: LOAN PARTICIPATION PROGRAM. May 4, 17, 2011 State Small Business Credit Initiative (SSBCI) U.S. Department of the Treasury SSBCI PROGRAM PROFILE: LOAN PARTICIPATION PROGRAM May 4, 17, 2011 (SSBCI) U.S. Department of the Treasury What is a Loan Participation Program? A Loan Participation Program enables small businesses to

More information

AVAILABLE ASSISTANCE TO BUSINESSES

AVAILABLE ASSISTANCE TO BUSINESSES AVAILABLE ASSISTANCE TO BUSINESSES The Arlington EDA is pleased to offer local businesses access to the following incentives and information resources. TAX INCREMENT FINANCING Tax increment financing is

More information

cash collateral support

cash collateral support 12/15.v4 table of contents 1 Overview 2 2 Program Description 2 3 Application 2 4 Credit Enhancement Levels 3 5 Cedit Enhancement Terms and Extensions 3 6 Security and Loan Documents 4 7 Reporting and

More information

PEF closes funding gaps growth businesses commonly face as they move from start-up to commercialization and fast growth.

PEF closes funding gaps growth businesses commonly face as they move from start-up to commercialization and fast growth. PITTSBURGH ENTREPRENEUR FUND Program Guidelines I. Statement of Purpose The Pittsburgh Entrepreneur Fund (PEF) will provide capital for new and growing businesses, including emerging technology-based firms,

More information

City of Mequon Town Center

City of Mequon Town Center City of Mequon Town Center Business Development Loan Program Participating Partners: City of Mequon First Bank Financial Centre Funding Source: Public/Bank Consortium Description: A revolving loan fund

More information

BUSINESS DEVELOPMENT LOAN PROGRAM

BUSINESS DEVELOPMENT LOAN PROGRAM BUSINESS DEVELOPMENT LOAN PROGRAM Overview Established in 2013, the Business Development Loan Program provides below market rates and favorable terms for new and existing businesses located in the Town

More information

TOWN of BRATTLEBORO, VERMONT SMALL BUSINESS ASSISTANCE PROGRM POLICIES AND PROCEDURES

TOWN of BRATTLEBORO, VERMONT SMALL BUSINESS ASSISTANCE PROGRM POLICIES AND PROCEDURES TOWN of BRATTLEBORO, VERMONT SMALL BUSINESS ASSISTANCE PROGRM POLICIES AND PROCEDURES A. POLICIES I. Purpose: Conventional sources of funding for start-up or business expansion purposes are largely inaccessible

More information

BUSINESS OWNER PROGRAM GUIDELINES

BUSINESS OWNER PROGRAM GUIDELINES BUSINESS OWNER PROGRAM GUIDELINES Table of Contents 1. Executive Summary 2. How the Business Owner Track Works 3. Award Details 4. Eligibility Criteria 5. Application Process 6. Selection Process 7. Match

More information

SSBCI PROGRAM PROFILE: COLLATERAL SUPPORT PROGRAM. May 17, 2011 State Small Business Credit Initiative (SSBCI) U.S. Department of the Treasury

SSBCI PROGRAM PROFILE: COLLATERAL SUPPORT PROGRAM. May 17, 2011 State Small Business Credit Initiative (SSBCI) U.S. Department of the Treasury SSBCI PROGRAM PROFILE: COLLATERAL SUPPORT PROGRAM May 17, 2011 (SSBCI) U.S. Department of the Treasury What is a Collateral Support Program? A Collateral Support Program is designed to enable financing

More information

SSBCI PROGRAM PROFILE: LOAN GUARANTEE PROGRAM. May 17, 2011 State Small Business Credit Initiative (SSBCI) U.S. Department of the Treasury

SSBCI PROGRAM PROFILE: LOAN GUARANTEE PROGRAM. May 17, 2011 State Small Business Credit Initiative (SSBCI) U.S. Department of the Treasury SSBCI PROGRAM PROFILE: LOAN GUARANTEE PROGRAM May 17, 2011 (SSBCI) U.S. Department of the Treasury What is a Loan Guarantee Program? A Loan Guarantee Program enables small businesses to obtain term loans

More information

SURVEY OF ECONOMIC DEVELOPMENT PROGRAMS IN MICHIGAN

SURVEY OF ECONOMIC DEVELOPMENT PROGRAMS IN MICHIGAN Citizens Research Council of Michigan SURVEY OF ECONOMIC DEVELOPMENT PROGRAMS IN MICHIGAN 2ND EDITION June 2007 Repor ort 347 CITIZENS RESEARCH COUNCIL OF MICHIGAN MAIN OFFICE 38777 West Six Mile Road,

More information

SBA 504 Loan Program. Jobs, Communities

SBA 504 Loan Program. Jobs, Communities SBA 504 Loan Program Growing Small Businesses, Jobs, Communities What is 504? Economic Development Financing Tool Financesfixed assets for healthy, expanding businesses Low down payment to preserve cash

More information

Q&A for Small Business Owners

Q&A for Small Business Owners Q&A for Small Business Owners What did the Obama Administration announce today? The Treasury Department will commit up to $15 billion to help unlock the secondary markets for small business loans. By purchasing

More information

THE REDEVELOPMENT AGENCY OF THE CITY OF SAN JOSE

THE REDEVELOPMENT AGENCY OF THE CITY OF SAN JOSE B O W AGENDA: ZIIUIUY ITEM: 6.1 THE REDEVELOPMENT AGENCY OF THE CITY OF SAN JOSE MEMORANDUM TO: REDEVELOPMENT AGENCY BOARD FROM: HARRY S. MAVROGENES EXECUTIVE DIRECTOR SUBJECT: SEE BELOW DATE: JANUARY

More information

CITY OF WATERVILLE DOWNTOWN FORGIVABLE LOAN PROGRAM

CITY OF WATERVILLE DOWNTOWN FORGIVABLE LOAN PROGRAM CITY OF WATERVILLE DOWNTOWN FORGIVABLE LOAN PROGRAM I. PROGRAM SUMMARY The City of Waterville has established a Downtown Forgivable Loan Program to provide financial assistance to business and property

More information

WESTERN REGION CORPROATION

WESTERN REGION CORPROATION WESTERN REGION CORPORATION Buffalo, New York 14203 (716) 945-5301 WESTERN REGION CORPROATION REGIONAL REVOLVING LOAN TRUST FUND (RRLTF) General Description Administered by: Western Region Corporation Buffalo,

More information

ADMINISTRATION PLAN for the Franklin County Revolving Loan Fund

ADMINISTRATION PLAN for the Franklin County Revolving Loan Fund ADMINISTRATION PLAN for the Franklin County Revolving Loan Fund I. PROGRAM ELEMENTS OF THE PLAN A. GOALS AND OBJECTIVES The primary purpose of the Franklin County Revolving Loan Fund, hereafter known as

More information

Eligibility and Application Guidelines for the Low Interest Loan Program for the Downtown Historic District (DHD)

Eligibility and Application Guidelines for the Low Interest Loan Program for the Downtown Historic District (DHD) Eligibility and Application Guidelines for the Low Interest Loan Program for the Downtown Historic District (DHD) GOAL: To attract new businesses and investors, to provide private property owners access

More information

ARC LOAN PROGRAM. Office of Small Business & Entrepreneurship and SBA

ARC LOAN PROGRAM. Office of Small Business & Entrepreneurship and SBA ARC LOAN PROGRAM Office of Small Business & Entrepreneurship and SBA 1 Timeline June 8 th : Regulation, Procedural Guidance and Forms Released Week of June 8 th : Lender Training June 15 th : SBA Begins

More information

SCORE. Counselors to America s Small Business SMALL BUSINESS START-UP FINANCING OVERVIEW

SCORE. Counselors to America s Small Business SMALL BUSINESS START-UP FINANCING OVERVIEW SCORE Counselors to America s Small Business SMALL BUSINESS START-UP FINANCING OVERVIEW One key to a successful business start-up and expansion is your ability to obtain and secure appropriate financing.

More information

SUBJECT: EXPANSION OF THE TEACHER HOMEBUYER PROGRAM DOWN PAYMENT ASSISTANCE PROGRAM TO INCLUDE CREDENTIALED NON-TEACHING STAFF

SUBJECT: EXPANSION OF THE TEACHER HOMEBUYER PROGRAM DOWN PAYMENT ASSISTANCE PROGRAM TO INCLUDE CREDENTIALED NON-TEACHING STAFF COUNCL AGENDA: 11/18/08 ITEM: 0.2 CITYOF ~ SAN]OSE CAPITAL OF SIUCON VALLEY Memorandum TO: HONORABLE MAYOR AND CITY COUNCIL FROM: Leslye Krutko SUBJECT: SEE BELOW DATE: Date COUNCIL DISTRICT: Citywide

More information

KALAMAZOO DOWNTOWN DEVELOPMENT AUTHORITY BUILDING REHABILITATION PROGRAM

KALAMAZOO DOWNTOWN DEVELOPMENT AUTHORITY BUILDING REHABILITATION PROGRAM KALAMAZOO DOWNTOWN DEVELOPMENT AUTHORITY BUILDING REHABILITATION PROGRAM PURPOSE As a fundamental goal of the Downtown Development Plan and Tax Increment Financing Plan (Plan), the Kalamazoo Downtown Development

More information

Financial. Management FOR A SMALL BUSINESS

Financial. Management FOR A SMALL BUSINESS Financial Management FOR A SMALL BUSINESS Welcome 1. Agenda 2. Ground Rules 3. Introductions FINANCIAL MANAGEMENT 2 Objectives Explain the concept of financial management and its importance to a small

More information

SBA 504 Expanded Refinancing Eligibility

SBA 504 Expanded Refinancing Eligibility SBA 504 Expanded Refinancing Eligibility When is a commercial mortgage considered eligible for refinancing under the new rules? 1. The loan must have funded at least 2 years ago 2. 85% of the loan proceeds

More information

GUIDELINES FOR DIRECT FINANCIAL ASSISTANCE

GUIDELINES FOR DIRECT FINANCIAL ASSISTANCE GLENVILLE LOCAL DEVELOPMENT CORPORATION BUSINESS ASSISTANCE LOAN PROGRAM GUIDELINES FOR DIRECT FINANCIAL ASSISTANCE Prepared by: Shelter Planning & Development, Inc. 94 Glenwood Avenue Queensbury, NY 12804

More information

USDA IRP LOAN FUND PROSPERA BUSINESS NETWORK 2015 CHARLOTTE STREET, SUITE 1 BOZEMAN, MT 59718 406.587.3113

USDA IRP LOAN FUND PROSPERA BUSINESS NETWORK 2015 CHARLOTTE STREET, SUITE 1 BOZEMAN, MT 59718 406.587.3113 USDA IRP LOAN FUND Prospera s Intermediary Relending Program Revolving Loan Fund ( IRP Loan Fund ) provides financing to businesses located in Gallatin County and Park County. Prospera s IRP Loan Fund

More information

Financial support at the Speed of Business

Financial support at the Speed of Business Commercial Business and Real Estate Consultants Financial support at the Speed of Business SBA 504 LOAN PROGRAM For smarter Commercial Financing of: Real Estate Buildings Mix use properties Machinery Equipment

More information

Small Business Loan Guarantee Program Report

Small Business Loan Guarantee Program Report GOVERNOR S OFFICE OF BUSINESS AND ECONOMIC DEVELOPMENT STATE OF CALIFORNIA OFFICE OF GOVERNOR EDMUND G. BROWN JR. Small Business Loan Guarantee Program Report Budget Item # 0509-001-0001 Edmund G. Brown

More information

Pennsylvania Minority Business Development Authority Loan

Pennsylvania Minority Business Development Authority Loan Pennsylvania Minority Business Development Authority Loan Program Guidelines November 2015 Commonwealth of Pennsylvania Tom Wolf, Governor Department of Community & Economic Development Table of Contents

More information

Enterprise Development Loan (EDL) Program

Enterprise Development Loan (EDL) Program Enterprise Development Loan (EDL) Program Statement of Purpose The Enterprise Development Loan (EDL) program is intended to encourage private lenders to provide credit to firms that have difficulty securing

More information

www.houstontx.gov/obo www.houstontx.gov/hbsc 832-393-0954

www.houstontx.gov/obo www.houstontx.gov/hbsc 832-393-0954 HOUSTON BUSINESS SOLUTIONS CENTER 611 Walker St., Lobby Level Houston, Texas 77002 www.houstontx.gov/obo www.houstontx.gov/hbsc 832-393-0954 TABLE OF CONTENTS TABLE OF CONTENTS WHAT IS AN ALTERNATIVE LENDER

More information

BUSINESS DEVELOPMENT LOAN POOL (BDPL) GUIDELINES & APPLICATION MENOMONEE FALLS, WISCONSIN

BUSINESS DEVELOPMENT LOAN POOL (BDPL) GUIDELINES & APPLICATION MENOMONEE FALLS, WISCONSIN BUSINESS DEVELOPMENT LOAN POOL (BDPL) GUIDELINES & APPLICATION MENOMONEE FALLS, WISCONSIN BUSINESS DEVELOPMENT LOAN POOL (BDLP) VILLAGE OF MENOMONEE FALLS, WISCONSIN PARTICIPATING PARTNERS Participating

More information

EVANGELICAL LUTHERAN CHURCH IN CANADA CHURCH EXTENSION AND CAPITAL FUND MANAGEMENT HANDBOOK

EVANGELICAL LUTHERAN CHURCH IN CANADA CHURCH EXTENSION AND CAPITAL FUND MANAGEMENT HANDBOOK EVANGELICAL LUTHERAN CHURCH IN CANADA CHURCH EXTENSION AND CAPITAL FUND MANAGEMENT HANDBOOK PREAMBLE A. ADMINISTRATION B. CAPITAL FUND I. OPERATING PRINCIPLES II. OPERATING POLICIES APPENDIX I CRITERIA

More information

VILLAGE OF GRAFTON DOWNTOWN BUSINESS DEVELOPMENT LOAN PROGRAM

VILLAGE OF GRAFTON DOWNTOWN BUSINESS DEVELOPMENT LOAN PROGRAM VILLAGE OF GRAFTON DOWNTOWN BUSINESS DEVELOPMENT LOAN PROGRAM PARTICIPATING PARTNERS Village of Grafton First Bank Financial Centre FUNDING SOURCE Government/Bank Consortium DESCRIPTION A revolving loan

More information

SBA Policy Notice. TO: All SBA Employees CONTROL NO.: 5000-1382. SUBJECT: Reauthorization of 504 Debt EFFECTIVE: 05/26/2016. Refinancing Program

SBA Policy Notice. TO: All SBA Employees CONTROL NO.: 5000-1382. SUBJECT: Reauthorization of 504 Debt EFFECTIVE: 05/26/2016. Refinancing Program SBA Policy Notice TO: All SBA Employees CONTROL NO.: 5000-1382 SUBJECT: Reauthorization of 504 Debt Refinancing Program EFFECTIVE: 05/26/2016 The Small Business Jobs Act of 2010 (Jobs Act), P.L. 111-240,

More information

Utah Center for Neighborhood Stabilization Introduces

Utah Center for Neighborhood Stabilization Introduces A summary for Utah financial institutions Utah Center for Neighborhood Stabilization Introduces Utah Small Business Growth Initiative In addition to the Utah Center for Affordable Housing s (UCAH) efforts

More information

colorado capital access program guidelines

colorado capital access program guidelines table of contents for lenders 1 Overview 2 2 Program Description 2 3 Lender Participation 3 3.1 Lender s Participation Agreement; Reserve Fund Set-up 3 3.2 Loan Enrollment 3 3.3 Registration Fees; CCA

More information

SBA Business Loan Programs

SBA Business Loan Programs SBA Business Loan Programs Horizon Certified Development Company Horizon Certified Development Company Incorporated in 1982 as Hamilton County Development Co., Inc. (HCDC) HCDC is a Certified Development

More information

How Bankers Think. Build a sound financial base to support your company for future growth

How Bankers Think. Build a sound financial base to support your company for future growth How Bankers Think Build a sound financial base to support your company for future growth Presented by: Lisa Chapman Business Planning, Social Media Marketing & SEO 615-477-8412 Questions to Consider First

More information

EXPLANATORY NOTES TO SCHEDULE 10-B: ESTIMATED DEVELOPMENT COSTS AND CAPITAL REQUIREMENTS.

EXPLANATORY NOTES TO SCHEDULE 10-B: ESTIMATED DEVELOPMENT COSTS AND CAPITAL REQUIREMENTS. EXPLANATORY NOTES TO SCHEDULE 10-B: ESTIMATED DEVELOPMENT COSTS AND CAPITAL REQUIREMENTS. 1. SOURCES OF FUNDS DURING CONSTRUCTION List all funding sources to be used during the construction of the project

More information

Project Financing Tools

Project Financing Tools OVERVIEW The City of Ramsey has a number of financial tools available for economic development projects. In general, tools include gap financing loans, SBA loans/loan guarantees and project based local

More information

A Guide For Business Operation, Start-Up, Relocation, and Expansion in Downtown Naples

A Guide For Business Operation, Start-Up, Relocation, and Expansion in Downtown Naples A Guide For Business Operation, Start-Up, Relocation, and Expansion in Downtown Naples This Section provides information on Financial Resources & Assistance. D owntown Naples, Florida is the ideal place

More information

Financial. Management FOR A SMALL BUSINESS

Financial. Management FOR A SMALL BUSINESS Financial Management FOR A SMALL BUSINESS 1 Agenda Welcome, Pre-Test, Agenda, and Learning Objectives Benefits of Financial Management Budgeting Bookkeeping Financial Statements Business Financing Key

More information

Small Business Development Program Program Guidelines

Small Business Development Program Program Guidelines City of North Liberty Small Business Development Program Program Guidelines A joint program of the City of North Liberty and the University of Iowa s John Pappajohn Entrepreneurial Center April 2012 Introduction

More information

MISSISSIPPI DEVELOPMENT AUTHORITY SMALL BUSINESS LOAN GUARANTY PROGRAM

MISSISSIPPI DEVELOPMENT AUTHORITY SMALL BUSINESS LOAN GUARANTY PROGRAM EXHIBIT C MISSISSIPPI DEVELOPMENT AUTHORITY SMALL BUSINESS LOAN GUARANTY PROGRAM APPLICATION MISSISSIPPI DEVELOPMENT AUTHORITY APPLICATION FOR SMALL BUSINESS LOAN GUARANTY PROGRAM INSTRUCTIONS TO LENDER:

More information

City of Eyota Historic Downtown Business Incentive for Revitalization Projects

City of Eyota Historic Downtown Business Incentive for Revitalization Projects City of Eyota Historic Downtown Business Incentive for Revitalization Projects Purpose: The Eyota Economic Development Authority (EDA) was established to attract, promote and build a future for the City

More information

Graduate School of Colorado SBA lending Presentation

Graduate School of Colorado SBA lending Presentation Graduate School of Colorado SBA lending Presentation SBA lending course summary The course will provide an overview and comparison of SBA 7a, SBA 504 and USDA Business & Industry (B&I) loan programs. SBA

More information

Growing Your Loan Portfolio Through SBA Lending

Growing Your Loan Portfolio Through SBA Lending Growing Your Loan Portfolio Through SBA Lending Presented By: U.S. Small Business Administration Tennessee District Office 2 International Plaza, Suite 500 Nashville, TN 37217 Today s SBA: Smart, Bold,

More information

Five C s of Credit: Understanding Bank Decision Process. Shane Tiernan SVP Chief of Lending GNB Bank

Five C s of Credit: Understanding Bank Decision Process. Shane Tiernan SVP Chief of Lending GNB Bank Five C s of Credit: Understanding Bank Decision Process Shane Tiernan SVP Chief of Lending GNB Bank Who Is GNB Bank? Locally owned community bank with $350MM in total assets. Four locations: Grundy Center,

More information

LENDERS SUMMARY OF 504 RULES

LENDERS SUMMARY OF 504 RULES LENDERS SUMMARY OF 504 RULES Eligibility applies to Nine areas 1. Size 2. Credit Not Available Elsewhere 3. Personal Resources of the Borrower 4. Use of Proceeds 5. Types of Businesses 6. Job Criteria(Economic

More information

Aurora Capital. $50,000 maximum (this amount is subject to the availability of funds) Five year balloon with a 20-year amortization schedule.

Aurora Capital. $50,000 maximum (this amount is subject to the availability of funds) Five year balloon with a 20-year amortization schedule. Aurora Capital Summary: Aurora Capital will be used to finance the rehabilitation and construction of commercial real estate in downtown Elkhart. The objective of the loan pool will be to stimulate physical

More information

VISION INCREASING OPPORTUNITIES FOR ALL SMALL BUSINESSES TO SUCCEED

VISION INCREASING OPPORTUNITIES FOR ALL SMALL BUSINESSES TO SUCCEED VISION INCREASING OPPORTUNITIES FOR ALL SMALL BUSINESSES TO SUCCEED SBA FINANCIAL ASSISTANCE An SBA guaranty is designed to help small businesses get access to reasonable credit from commercial lenders.

More information

Department of Small and Local Business Development DSLBD (EN)

Department of Small and Local Business Development DSLBD (EN) DSLBD (EN) MISSION The mission of the (DSLBD) is to foster the economic growth, development and retention of District based businesses. SUMMARY OF SERVICES The provides assistance and services to Districtbased

More information

Big. SBA Helps Small. Corporate icons such as Nike, FedEx, and Apple Computer all. Businesses Think. Small Business

Big. SBA Helps Small. Corporate icons such as Nike, FedEx, and Apple Computer all. Businesses Think. Small Business Small Business SBA Helps Small Businesses Think Big B Y H ENRY W ICHMANN, J R., CPA; K ENNETH A BRAMOWICZ; AND H. C HARLES S P ARKS, CPA Corporate icons such as Nike, FedEx, and Apple Computer all started

More information

W i n t r u s t B a n k

W i n t r u s t B a n k W i n t r u s t B a n k 1 WHO ARE WE Wintrust Financial is a financial services holding company We provide traditional community banking services, commercial banking, wealth management, commercial insurance

More information

Swift County Loan Program Guidelines and Application

Swift County Loan Program Guidelines and Application Swift County Rural Development Authority 1228 Atlantic Ave Benson MN 56215 Swift County Loan Program Guidelines and Application Swift County RDA 1228 Atlantic Ave Benson MN 56215 320-842-4769 rda@co.swift.mn.us

More information

BUSINESS DEVELOPEMENT LOAN FUND PROGRAM

BUSINESS DEVELOPEMENT LOAN FUND PROGRAM BUSINESS DEVELOPEMENT LOAN FUND PROGRAM Program Guidelines and Operating Criteria 1. STATEMENT OF PURPOSE The BDF Economic Adjustment Revolving Loan Fund Program is designed to stimulate the creation and

More information

SMALL BUSINESS LENDING OPPORTUNITIES FOR CREDIT UNIONS

SMALL BUSINESS LENDING OPPORTUNITIES FOR CREDIT UNIONS SMALL BUSINESS LENDING OPPORTUNITIES FOR CREDIT UNIONS February 14, 2012 Terrence K. McHugh President Commercial Alliance 1 Business Lending in Credit Unions 1998 regulation limits business lending in

More information

DEPARTMENT OF COMMERCE REVOLVING LOAN FUND (RLF) SUMMARY

DEPARTMENT OF COMMERCE REVOLVING LOAN FUND (RLF) SUMMARY DEPARTMENT OF COMMERCE REVOLVING LOAN FUND (RLF) SUMMARY The Revolving Loan Fund (RLF) program is designated to make direct business loans with other financing sources (public sector loans, governmental

More information

USDA RURAL DEVELOPMENT INTERMEDIARY RELENDING PROGRAM FACT SHEET

USDA RURAL DEVELOPMENT INTERMEDIARY RELENDING PROGRAM FACT SHEET USDA RURAL DEVELOPMENT INTERMEDIARY RELENDING PROGRAM FACT SHEET Area of Operations The South Central Tennessee Development District will utilize Intermediary Relending Program Loan Fund to assist business

More information

Southern Dallas Small Business Lending Program

Southern Dallas Small Business Lending Program Southern Dallas Small Business Lending Program Economic Development Committee April 19, 2010 WWW.DALLAS-EDD.ORG 1 PURPOSE Highlight small business capital access challenges and address ECO Committee concerns

More information

BaltimoreMICRO - Revolving Loan Fund

BaltimoreMICRO - Revolving Loan Fund BaltimoreMICRO - Revolving Loan Fund sbrcbaltimore.com FACT SHEET Description and purpose Administered by the Baltimore Development Corporation (BDC), the purpose BaltimoreMICRO is to provide existing

More information

Applying for a Business Loan A Cardinal Bank Lender s View. Components of an Application Package

Applying for a Business Loan A Cardinal Bank Lender s View. Components of an Application Package Applying for a Business Loan A Cardinal Bank Lender s View By James N. Estep, AVP, Business Lending Contents Loan Interview Expectations Types of Business Loans Preferred Business Attributes Components

More information

SAN]OSE I~U/~ f--;;j-'lj If Jf3 Memorandum. Ii/If) 1- FROM: Leslye Corsiglia SUBJECT: SUBSTANTIAL REHABILITATION LOAN REVISIONS. DATE: August 25,2004

SAN]OSE I~U/~ f--;;j-'lj If Jf3 Memorandum. Ii/If) 1- FROM: Leslye Corsiglia SUBJECT: SUBSTANTIAL REHABILITATION LOAN REVISIONS. DATE: August 25,2004 CITYOF ~ SAN]OSE CAPITAL OF SILICON VALLEY COUNCIL AGENDA: ITEM: f--;;j-'lj If Jf3 Memorandum TO: HONORABLE MAYOR AND CITY COUNCil. SUBJECT: SUBSTANTIAL REHABILITATION LOAN REVISIONS FROM: Leslye Corsiglia

More information

WHAT IS BUSINESS CREDIT?

WHAT IS BUSINESS CREDIT? 1 WHAT IS BUSINESS CREDIT? Why Do I Need Credit? Establishing a good credit rating is an important financial priority for every business. Having good business credit means that owners of businesses can

More information

Wright County Enterprise Loan Fund Policies and Procedures

Wright County Enterprise Loan Fund Policies and Procedures Wright County Enterprise Loan Fund Policies and Procedures Established 1993 Revised December 1998 Revised December 2002 Revised in 2004 & approved by commissioners January 2005 1 I. OVERVIEW The purpose

More information

Financing Downtown Businesses

Financing Downtown Businesses Financing Downtown Businesses Presented by: David Kircher 1 Wisconsin Business Development Finance Corporation Certified Development Company Authorized to work with SBA 504 Program Fixed Asset Financing

More information

DOWNTOWN BOND PROGRAM. Revolving Loan. Administered and Serviced by Eastern Savings Bank

DOWNTOWN BOND PROGRAM. Revolving Loan. Administered and Serviced by Eastern Savings Bank DOWNTOWN BOND PROGRAM Revolving Loan Administered and Serviced by Eastern Savings Bank Revolving Loan Checklist Initial Meeting Date Application Personal Financial Statements Business Tax Returns Business

More information

1702 Short-Term Emergency Student Loans. 1703 Extension of Credit for Sales & Services. 1704 Loans to Affiliates. 1705 Employee Loans

1702 Short-Term Emergency Student Loans. 1703 Extension of Credit for Sales & Services. 1704 Loans to Affiliates. 1705 Employee Loans LOAN AND RECEIVABLE POLICIES 1701 Long-Term Student Loans NDSL, NSL & International 1702 Short-Term Emergency Student Loans 1703 Extension of Credit for Sales & Services 1704 Loans to Affiliates 1705 Employee

More information

CITY OF LOS ANGELES CALIFORNIA

CITY OF LOS ANGELES CALIFORNIA RICHARD L. BENBOW GENERAL MANAGER September 2, 2011 Jobs and Business Development Committee Los Angeles City Hall C/0 City Clerk Room 395, City Hall CITY OF LOS ANGELES CALIFORNIA ANTONIO R. VILLARAIGOSA

More information

Zionsville Micro Loan Program

Zionsville Micro Loan Program Zionsville Micro Loan Program A Program of the Zionsville Redevelopment Commission OVERVIEW The Zionsville Micro Loan Program is a unique financial tool available to small businesses in the Zionsville

More information

Entrepreneurship (E-) Community Loan Application

Entrepreneurship (E-) Community Loan Application Reno County E-Partners Entrepreneurship (E-) Community Loan Application Local Participating Organizations Quest Center for Entrepreneurs, Downtown Hutchinson Revitalization Partnership, Hutchinson/Reno

More information

Business Start-Up Basics II

Business Start-Up Basics II Business Start-Up Basics II P R E B U S I N E S S P L A N P R E P A R A T I O N Presented by: SBDC Business Advisors Lisa Hutson Ana Badillo Susan Patton Agenda 1. Determine financing needs a. Discuss

More information

Funding Your Business

Funding Your Business Page 12 County of Bucks Community Services Division Lynn T. Bush, Executive Director and County Chief Clerk Community and Business Development Department Vitor A. Vicente, Director Neshaminy Manor Center

More information

CITY OF NEWARK SECTION 108 LOAN PROGRAM. DRAFT PROGRAM GUIDELINES As approved on 7/28/13 by HUD and written on 9/15/14

CITY OF NEWARK SECTION 108 LOAN PROGRAM. DRAFT PROGRAM GUIDELINES As approved on 7/28/13 by HUD and written on 9/15/14 CITY OF NEWARK SECTION 108 LOAN PROGRAM DRAFT PROGRAM GUIDELINES As approved on 7/28/13 by HUD and written on 9/15/14 A Program Financed Under the U.S. Department of Housing & Urban Development Section

More information

Rural Entrepreneur Assistance (REA)

Rural Entrepreneur Assistance (REA) Rural Entrepreneur Assistance (REA) Eligibility Criteria A. APPLICANT 1. Must be aged 18 or over, eligible to work in Canada, and a Manitoba resident. 2. Must develop and submit a sound business plan which

More information

Report Description. Business Counts. Top 10 States (by Business Counts) Page 1 of 16

Report Description. Business Counts. Top 10 States (by Business Counts) Page 1 of 16 5-Year County-Level Financial Profile Industry Report Architectural Services (SIC Code: 8712) in Prince George County, Maryland Sales Range: $500,000 - $999,999 Date: 11/07/08 Report Description This 5-Year

More information

Entrepreneur Academy: SBA 504 & 7(a) Loan Programs & Updates

Entrepreneur Academy: SBA 504 & 7(a) Loan Programs & Updates Entrepreneur Academy: SBA 504 & 7(a) Loan Programs & Updates Wendy J. Jeffers Sr. Lending Officer: SBA Programs wjeffers@sbacsav.com Mobile: 912.398.3090 or 888.287.2137 In full operation since September

More information

CITY OF REDWOOD FALLS PORT AUTHORITY REVOLVING LOAN FUND (RLF) APPLICATION

CITY OF REDWOOD FALLS PORT AUTHORITY REVOLVING LOAN FUND (RLF) APPLICATION CITY OF REDWOOD FALLS PORT AUTHORITY REVOLVING LOAN FUND (RLF) APPLICATION October, 1999 Revolving Loan Fund Guidelines City of Redwood Falls The purpose of the Revolving Loan Fund (RLF) is to provide

More information