April e-News
April 2007 e-News
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<body topmargin="0" leftmargin="0" rightmargin="0"><!--Copyright (c) 1996-2007 Constant Contact. All rights reserved. Except as permitted under a separate
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contact legal@constantcontact.com.--><div align="center" style="background-color:#ffffff;padding-bottom:10px;"><div align="left" style="font-family:verdana,arial;font-size:8pt;color:#000000;width:600;"><font face="verdana,arial" size="1" color="#000000" style="font-family:verdana,arial;font-size:8pt;color:#000000;">Thank you for subscribing to Self-Help Ventures Fund's e-News Brief. To ensure that you continue to receive email from us, please add 504loans@self-help.org to your address book. <div style="overflow: auto;"> </div><div>You may <a style="color:#0000ff;" shape="rect" href="http://visitor.constantcontact.com/d.jsp?p=un&m=1101228340253&ea=jung.ryu@self-help.org&t=1101613822384&lang=en&reason=T&id=preview.1101228340253&id=preview" target="_blank">unsubscribe</a> if you no longer wish to receive our emails.</div></font></div></div>
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<td style="color:#FFFFFF;font-family:Arial,Helvetica,sans-serif;font-size:12pt;" styleclass="style_TitleText" rowspan="1" colspan="1"><font color="#FFFFFF" size="3" face="Arial,Helvetica,sans-serif" style="color:#FFFFFF;font-family:Arial,Helvetica,sans-serif;font-size:12pt;"><span style="font-weight: bold;">Self-Help Ventures Fund</span><br /><span style="font-weight: bold;">SBA 504 Loan Program e-news Brief</span><br /><span style="font-weight: bold;">April 2007<br /></span></font></td>
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<td style="font-family: Arial,Helvetica,sans-serif; font-size: 12pt; color: rgb(0, 0, 0);" styleclass="style_Greeting"><font style="color: rgb(0, 0, 0);" size="2">The first quarter of the year got off to a great start for our SBA 504 lending team, with nearly five million dollars of projects getting SBA loan approval last month alone.<br /><br />Each month we deliver current SBA 504 loan rates and share information beneficial to you and your small business customers. For an in-depth look at the SBA 504 program, please visit the 504 section of Self-Help's website at </font><font style="color: rgb(0, 0, 0);" size="2"><a href="http://rs6.net/tn.jsp?t=qn7zu5bab.0.0.6a6fftbab.0&ts=S0241&p=http%3A%2F%2Fwww.self-help.org%2F504loans&id=preview" target="_blank">www.self-help.org/504loans</a></font><font style="color: rgb(0, 0, 0);" size="2">.<br /><br />Thank you for your ongoing support and we look forward to working with you to provide 504 financing for North Carolina's growing small business communities in all seven Self-Help locations across the state.</font><font style="color: rgb(0, 0, 0);" size="2"><br /><br /></font> <font style="color: rgb(0, 0, 0);" size="2"><font face="Arial,Helvetica,sans-serif"><img height="30" border="0" name="ACCOUNT.IMAGE.21" width="102" contenteditable="false" src="http://ih.constantcontact.com/fs056/1101228340253/img/21.gif?a=1101613822384"><br />
Jim Overton
<div>Director of SBA 504 Lending </div></font></font></td></tr></table>
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<td style="color:#000000;font-family:Arial,Helvetica,sans-serif;font-size:8pt;" styleclass="style_MainText" rowspan="1" colspan="1"><font color="#000000" size="1" face="Arial,Helvetica,sans-serif" style="color:#000000;font-family:Arial,Helvetica,sans-serif;font-size:8pt;"><div style="text-align: left;"><span style="color:#000000;font-family:Arial,Helvetica,sans-serif;font-size:12pt;" styleclass="style_ArticleHeadline"><font color="#000000" size="3" face="Arial,Helvetica,sans-serif" style="color:#000000;font-family:Arial,Helvetica,sans-serif;font-size:12pt;"><font color="#000000" size="2" face="Arial,Helvetica,sans-serif"><strong><span style="color: rgb(0, 0, 102);">CURRENT 504 LOAN RATES</span><br /><br />6.29%</strong> fixed for 20 years for real estate projects, including acquisition, new construction and major renovation</font></font></span></div>
<div style="text-align: left;"><font size="2"><font face="Arial,Helvetica,sans-serif"><span style="color:#000000;font-family:Arial,Helvetica,sans-serif;font-size:12pt;" styleclass="style_ArticleHeadline"><font color="#000000" size="3" face="Arial,Helvetica,sans-serif" style="color:#000000;font-family:Arial,Helvetica,sans-serif;font-size:12pt;"><font color="#000000"><font size="2"><strong><br />6.30%</strong> fixed for 10 years for heavy-duty equipment and</font> </font><font color="#000000" size="2">machinery</font></font></span></font></font><br /></div><div style="text-align: left;"><font size="2"><font face="Arial,Helvetica,sans-serif"><font color="#000000"><br /><font size="1">(as of April 3, 2007)</font></font></font></font></div>
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<p style="color: rgb(0, 0, 102); font-family: Arial,Helvetica,sans-serif; font-weight: bold;"><font size="2"><strong>504 UNDERWRITING TIP: <br /></strong></font></p><p style="color: rgb(0, 0, 102); font-family: Arial,Helvetica,sans-serif; font-weight: bold;"><font size="2"><strong>HOW CAN YOU BUY A BUSINESS USING AN SBA 504 LOAN?</strong><span style="font-size: 12pt;"><br /></span></font></p><font size="2">There are some tricks to using the SBA 504 program to help buy a business:<br /></font><ol><li><font size="2">We can only finance the portion involving real estate and eligible equipment. We can't finance goodwill, inventory, or other sales components.</font></li><li><font size="2">We can't finance a transaction structured as a stock purchase. We need to have a purchase agreement for the fixed assets transaction. The seller and buyer can have a separate agreement that governs the sale of other assets.</font></li><li><font size="2">We can't count existing jobs as "new jobs created" - we need to see potential for new job creation or meet a public policy goal.</font></li><li><font size="2">The borrower must show strong management skills, and project reasonable cash-flow.</font></li><li><font size="2">We need appraisals on real estate and equipment confirming their value, ideally borrower's at the time of approval. </font></li><li><font size="2">In terms of a downpayment, the criterion we measure is the experience, not the company's history. If the management team does not have experience owning and operating this kind of business, we may need to treat it as a start-up, which requires an additional 5% down.</font></li><li><font size="2">It is feasible to use SBA 7(a) financing for the part of the transaction not eligible for SBA 504 financing. We can help you look at that option.</font></li></ol><font size="2">Obviously, structuring these deals can be complicated - so please get us involved early on to help determine whether 504 financing can help make the transaction work.<br /><br />Let's take a sample transaction:<br /></font><ol><li><font size="2">The borrower wishes to buy assets of an existing business for $1.2 million; the transaction is mostly real estate, with little equipment involved, and few current assets like inventory. The property is a multi-purpose building that will appraise for $1 million.</font></li><li><font size="2">The borrower owns a very similar business, and has operated it for three years.</font></li><li><font size="2">The owners are willing to structure the purchase to maximize financing.</font></li><li><font size="2">Our analysis indicates that the borrower can successfully cash-flow the debt.</font></li></ol><font size="2">We would propose the following transaction:<br /></font><ol><li><font size="2">There is one sales agreement for $1 million on the building, and another for $200,000 for the remaining assets.</font></li><li><font size="2">We split the real estate acquisition on the standard "50-40-10" basis, so you finance $500,000, we finance $400,000, and the borrower invests $100,000.</font></li><li><font size="2">The borrower provides $50,000 in owner's equity for upfront working capital.</font></li><li><font size="2">You finance the remaining $200,000 through your normal lending channels; if you decide to have an SBA guarantee on that loan, we can help prepare the application.</font></li></ol><font size="2">If you face a similar situation, please give us a call. We'll be happy to work with you to provide an attractive financing package for your borrower.</font></font></td></tr></table>
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<td rowspan="1" colspan="1" align="center"><a style="color:#000000;font-family:Arial,Helvetica,sans-serif;text-decoration:none;font-size:8pt;" shape="rect" href="#LETTER.BLOCK3"><font color="#000000" size="1" face="Arial,Helvetica,sans-serif" style="color:#000000;font-family:Arial,Helvetica,sans-serif;font-size:8pt;">Current 504 Loan Rates</font></a></td>
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<td rowspan="1" colspan="1" align="center"><a style="color:#000000;font-family:Arial,Helvetica,sans-serif;text-decoration:none;font-size:8pt;" shape="rect" href="#LETTER.BLOCK5"><font color="#000000" size="1" face="Arial,Helvetica,sans-serif" style="color:#000000;font-family:Arial,Helvetica,sans-serif;font-size:8pt;">Underwriting Tip</font></a></td>
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<td rowspan="1" colspan="1" align="center"><a style="color:#000000;font-family:Arial,Helvetica,sans-serif;text-decoration:none;font-size:8pt;" shape="rect" href="#LETTER.BLOCK9"><font color="#000000" size="1" face="Arial,Helvetica,sans-serif" style="color:#000000;font-family:Arial,Helvetica,sans-serif;font-size:8pt;">Lenders Spotlight</font></a></td>
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<td rowspan="1" colspan="1" align="center"><a style="color:#000000;font-family:Arial,Helvetica,sans-serif;text-decoration:none;font-size:8pt;" shape="rect" href="#LETTER.BLOCK10"><font color="#000000" size="1" face="Arial,Helvetica,sans-serif" style="color:#000000;font-family:Arial,Helvetica,sans-serif;font-size:8pt;">Contact Us</font></a></td>
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<td style="color:#000000;font-family:Arial,Helvetica,sans-serif;font-size:8pt;" styleclass="style_MainText" rowspan="1" colspan="1"><font color="#000000" size="1" face="Arial,Helvetica,sans-serif" style="color:#000000;font-family:Arial,Helvetica,sans-serif;font-size:8pt;"><font style="font-weight: bold; color: rgb(0, 0, 102); text-decoration: underline;" size="2">504 BORROWER BENEFITS</font><br /><br /><font size="2">How buying a business with an SBA 504 Loan will be benefical:</font><br /><br /><font size="2">1. They will likely put a lot less money down than they might in another financing structure.</font><br /><font size="2">2. They get the benefits of long-term fixed-rate financing on the
504 component, and you offer attractive terms on your senior debt piece.</font><br /><font size="2">3. We size up the transaction quickly, help you structure the deal, and move it through the SBA swiftly.</font></font></td>
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<td style="background-color:#FFCC33;color:#000000;font-family:Arial,Helvetica,sans-serif;font-size:10pt;padding-left:10px;padding-right:10px;" bgcolor="#FFCC33" styleclass="style_Accent3 Headline2 ContactPad"><font color="#000000" size="2" face="Arial,Helvetica,sans-serif" style="color:#000000;font-family:Arial,Helvetica,sans-serif;font-size:10pt;"><b><font color="#000066">LENDERS SPOTLIGHT: SELF-HELP FEB. 2007 SBA 504 APPROVALS</font></b></font></td></tr>
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<p><font color="#000000"><em>Thank you for making March a productive month!</em></font></p>
<p class="MsoNormal"><b><u><span style="font-size: 10pt; font-family: Arial;">LENDER<span> </span></span></u></b><b><span style="font-size: 10pt; font-family: Arial;"><span> </span><u><span> </span>LOCATION<span>
</span></u><span> </span><span> </span><u><span> </span><span> </span>INDUSTRY<span>
</span><span> </span></u><span> </span><span> </span><u>PROJECT
COST</u></span></b><br /><span style="font-size: 10pt; font-family: Arial;">Bank of America<span> </span>Pineville<span> </span>Funeral Home<span> </span><span> </span><span> </span><span> </span><span> </span><span> </span>$1,150,000<br />CIT Lending
Services<span> </span>Graham <span> </span>Breakfast Sandwich
Manufacturer<span> </span><span> </span><span> </span><span> </span>$978,620<br />Fidelity
Bank<span> </span><span> </span>Raleigh
<span> </span>Decorative Glass and Doors<span> </span><span>
</span><span> </span>$1,314,000<br />First
Citizens<span> </span><span> </span>Mooresville<span> </span>Martial Arts Instruction <span> </span><span> </span><span> </span><span> </span>$742,000<br />First
Citizens<span> </span><span> </span>Clemmons<span> </span><u>Direct Mail, Money Mailer<span> </span> <span> </span></u><span> </span><span> </span><u><span><span style="text-decoration: underline;"> </span> </span><span> </span><span> </span><span> </span>$321,000</u><br /><span> </span><span>
</span><b>TOTAL<span> </span><span> </span><span> </span>$4,505,620</b></span></p>
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<p><font face="Arial,Helvetica,sans-serif"><font color="#000000" size="2">Call the Self-Help loan officer nearest you to discuss a project or learn more about how you can use an SBA 504 loan to help your small business customers with expansion needs. </font></font></p>
<p><font face="Arial,Helvetica,sans-serif"><font size="2"><font color="#000000"><strong>Charlotte NC Region:</strong> </font></a><a href="mailto:dale.harrold@self-help.org" target="_blank"><font color="#3300ff">Dale Harrold</font></a><font color="#000000"> and </font><a href="mailto:ralph.ansell@self-help.org" target="_blank"><font color="#3300ff">Ralph Ansell</font></a><font color="#000000">, Self-Help, Great Aunt Stella Center, 926 Elizabeth Ave., Suite 302, Charlotte, NC 28204 * 800-394-7428</font></font></font></p>
<p><font face="Arial,Helvetica,sans-serif"><font size="2"><font color="#000000"><strong>Sandhills NC Region:</strong> </font><a href="mailto:allen.cofiori@self-help.org" target="_blank"><font color="#3300ff">Allen Cofiori</font></a><font color="#000000">, Self-Help, 100 Hay St., Suite 300, Fayetteville, NC 28301 * 800-774-7966</font></font></font></p>
<p><font face="Arial,Helvetica,sans-serif"><font size="2"><font color="#000000"><strong>Northeastern NC Region:</strong> </font><a href="mailto:gerry.blood@self-help.org" target="_blank"><font color="#3300ff">Gerry Blood</font></a><font color="#000000">, Self-Help, 301 South Evans St., Suite 306, Greenville, NC 27858 * 800-893-9669</font></font></font></p>
<div><font face="Arial,Helvetica,sans-serif"><font size="2"><font color="#000000"><strong>Southeastern NC Region:</strong> </font><a href="mailto:louis.rogers@self-help.org" target="_blank"><font color="#3300ff">Louis Rogers</font></a><font color="#000000">, Self-Help, 272 N. Front St., Suite 300, Wilmington, NC 28401 * 877-559-4284</font></font></font></div>
<p><font face="Arial,Helvetica,sans-serif"><font size="2"><font color="#000000"><strong>Triad NC Region:</strong> </font><a href="mailto:anna.tefft@self-help.org" target="_blank"><font color="#3300ff">Anna Tefft</font></a><font color="#000000">, Self-Help, 122 N. Elm St., Suite 1015, Greensboro, NC 27401 and 500 West Fourth Street, Suite 200, Winston-Salem, NC 27101 * 800-269-7426</font></font></font></p>
<div><font face="Arial,Helvetica,sans-serif"><font size="2"><font color="#000000"><strong>Central NC Region:</strong> </font><a href="mailto:joe.osowski@self-help.org" target="_blank"><font color="#3300ff">Joe Osowski</font></a><font color="#000000">, Self-Help, 301 W. <font color="#000000">Main</font> St., P.O. Box 3619, Durham, NC 27702 * 800-476-7428</font></font></font></div>
<p><font face="Arial,Helvetica,sans-serif"><font size="2"><font color="#000000"><strong>Western NC Region:</strong> </font><a href="mailto:tom.byers@self-help.org" target="_blank"><font color="#3300ff">Tom Byers</font></a><font color="#000000">, Self-Help, 34 Wall St., Suite 704, Asheville, NC 28801 * 800-229-7428</font></font></font></p>
<p><font face="Arial,Helvetica,sans-serif"><font size="2"><font color="#000000">Contact our <strong>SBA 504 Program Director</strong>, </font><a href="mailto:jimo@self-help.org" target="_blank"><font color="#3300ff">Jim Overton</font></a><font color="#000000">, at 919-956-4473.</font></font></font></p>
<p><font face="Arial,Helvetica,sans-serif"><font size="2"><font color="#000000">Or contact our <strong>SBA 504 Marketing Officer</strong>, </font><a href="mailto:jamie.miyares@self-help.org" target="_blank"><font color="#3300ff">Jamie Miyares</font></a><font color="#000000">, at 919-956-4670. </font></font></font></p></font></td></tr></table>
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<div style="font-family:verdana,arial;font-size:8pt;color:#000000;background-color:#ffffff;padding-top: 20px;" align="left" id="LETTER.PHYSICALADDRESS"><font style="font-family:verdana,arial;font-size:8pt;color:#000000;" color="#000000" size="1" face="verdana,arial">Self-Help Ventures Fund | 301 West Main St. | P.O. Box 3619 | Durham | NC | 27701</font></div>
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