Franchise Eligibility Changes for SBA Loans –Effective January 1, 2014

Jessica SarterSBA Loans

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SBA’s new SOP 50 10 5 (F) contains some beneficial processing changes for PLP and SBA Express lenders and borrowers in determining whether an “affiliation” exists between the franchisor and franchisee that would make the loan ineligible under SBA size standards. If an affiliation is found to exist, the franchisor’s financial information would be combined with the borrower’s to determine … Read More

Cyber Attacks on Small Business Increase–Costing an Average of $8,699 Per Attack

Jessica SarterSBA Loans

Guardian Network Solutions

Cyber attacks on small business have tripled since 2011, according to the Symantec Internet Security Threat Report. The cost to small businesses for each attack average $8,699 according to the 2013 Small Business Technology Survey. According to a report in Entrepreneur Magazines Trends 2014 edition, the use of personal mobile devices in the work place exposes companies to increased exposure … Read More

New Rules Get Small Commercial Loans Back on Track

Jessica SarterSBA Loans

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Large loans are easier to get than small ones. That’s because it takes just as much effort for bankers to originate and close small loans as it does for large ones. And the fees charged may not cover the cost of putting very small on the books — especially for large banks with substantial overhead costs. That is why the … Read More

Did you Borrow Against Your Home to Start, Expand or Buy a Business?

Jessica SarterSBA Loans

Mike Arriola cropped 6-2-12 (2)

SBA’s New Rules Might Refinance Your Home Equity Line of Credit With a Business Loan and Release the HELOC Lien Against Your House   Jerry Chautin Business Mentoring If you used your home equity line of credit (HELOC) for business purposes, you may be able to refinance with a federally guaranteed bank loan under the U.S. Small Business Administration’s new … Read More