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.
December 6, 2010
NORTH BAY — The economy is still challenged, and businesses are still struggling. But there are some positive things happening, according to leading SBA lenders in the North Bay.
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.