December 3, 2012
NORTH BAY — Oakland-based microlender Oakland Business Development Co. is now actively pursuing borrowers in the North Bay and beyond, bolstered by a new loan program backed by the U.S. Small Business Administration and by demand created in a financial climate that has pushed traditional lenders away from smaller loans in recent years.
October 29, 2012
The volume of small business lending backed by the U.S. Small Business Administration in the Bay Area reached an all-time high during the last fiscal year, and volume for such loans in three North Bay counties grew by more than one-third.
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.
May 14, 2012
NORTH BAY – The volume of small business lending in the North Bay backed by the U.S. Small Business Administration was 29 percent lower for the first half of fiscal 2012 compared to the same period last year, with a corresponding 16.7 percent decrease in dollars across Sonoma, Marin and Napa counties, according to the SBA.
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.
September 23, 2010
NORTH BAY – The House passed HR 5297 today, the small business lending bill that once made into law will greatly increase the reach of Small Business Administration loans.
September 16, 2010
NORTH BAY — This morning, the Senate passed HR 5297, the small business lending bill that once made into law will greatly increase the reach of Small Business Administration loans.
March 22, 2010
NORTH BAY – The fee waiver and higher guarantee percentage that rolled out last February for Small Business Administration loans was extended for the second time through the end of this month, and it is expected to be extended again through the end of the year.
December 7, 2009
NORTH BAY – In February, the Small Business Administration and Congress rolled out a program to make SBA loans more attractive to both lenders and borrowers by increasing the guarantee percentage and waiving fees. It worked: $730 million was allotted and the guarantee went from 75 percent to 90 percent. But the money that was [...]
October 5, 2009
Also: Ex-Prudential executive joining Redwood Trust Inc.
August 24, 2009
NORTH BAY – Even with aggressive new rules for Small Business Administration loans intended to increase lending, the program hasn’t delivered the punch it intended.
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