May 12, 2014
Each year, the Business Journal highlights the leading U.S. Small Business Administration program lenders serving the North Bay.
September 10, 2012
North Bay lenders are lamenting the imminent expiration of the U.S. Small Business Administration’s temporary 504 refinance program, which allows a one-time refinance of debt and reinvestment of equity.
The temporary program, launched by the Jumpstart Our Small Businesses (JOBS) Act of 2010, allows a small-business owner to refinance debt through the typical 504 loan structure used for financing property and other tangible assets: a 10 percent equity contribution from the borrower, a 40 percent, 20-year fixed-rate government loan and a 50 percent second mortgage from a second commercial lender. In combination, up to $10 million can be refinanced through the program.
April 25, 2011
NORTH BAY — North Bay SBA lending — both 504 and 7a — increased by 35 percent in dollars and 21 percent in volume year-over-year for the first half of fiscal 2011 that began in October.