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.
August 13, 2012
Executive vice president and chief financial officer, Lixit Corporation, Napa. Financial leaders in the current economy should work to “relay financial information to other leaders in the organization so that sound business decisions can be made.”
July 16, 2012
NAPA — Lixit Corporation, as its name implies, is the largest small animal watering device manufacturer in the world, with a 70 percent market share in its category and revenues in excess of $10 million annually. The firm has been growing at a double-digit rate for the past couple of years, despite a five percent decline during the recession.
June 13, 2012
The North Bay Business Journal is proud to present the 2012 Top Manufacturers Awards to 13 North Bay companies.
“We want to recognize the contribution all North Bay manufacturers add to our local economy, through high-wage jobs, training and exports that bring critical dollars back into our economy and communities,” said Business Journal Editor and Associate Publisher Brad Bollinger. “They are terrific employers and members of the community. And they bring innovation to our region in a big way.”
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