August e-News
August 2007 e-News Brief
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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=1101785582071&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><span style="font-weight: bold;"><br />August 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">504 lending volume is starting to tick up again after a mid-summer slump. In this issue we take a look at the consequences of the recent financial shocks and how this market volatility may or may not affect 504 rates. You'll also find a 504 borrower story about a high-end fence, gate and railing manufacturer bringing 70 new jobs to a rural area.<br /><br />We appreciate your ongoing support and look forward to working with you to provide 504 financing in all seven Self-Help locations statewide for growing small business communities.<br /><br />For an in-depth look at the SBA 504 program, please visit the 504 section of Self-Help's website at </font><font size="2"><a href="http://rs6.net/tn.jsp?t=xpstydcab.0.0.6a6fftbab.0&ts=S0272&p=http%3A%2F%2Fwww.self-help.org%2F504loans&id=preview" linktype="undefined" target="_blank">www.self-help.org/504loans</a></font><font style="color: rgb(0, 0, 0);" size="2">.</font><font style="color: rgb(0, 0, 0);" size="2"><br /></font><font style="color: rgb(0, 0, 0);" size="2"><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=1101785582071"><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;"><font size="2"><span style="font-weight: bold;"><span style="color: rgb(0, 0, 102); text-decoration: underline;">UNDERWRITING TIP: 504 Rates in a Turbulent Financial Market</span><br /><br /></span>In the face of recent financial shocks -stock market worries, the sub-prime mortgage market implosion - we've been getting nervous calls from some 504 customers. They've wondered how these issues might affect their rate when we fund their loan.<br /><br />Though we always have to be cautious, we can say it's mostly good news: 504 rates remain stable.<br /><br />A quick refresher on the drivers for 504 rates:<br /></font><ol><li><font size="2">We sell debentures to investors in long-term financial markets. For the most part, they use 10-year treasuries as a reliable yardstick for pricing our product.</font></li><li><font size="2">They do seek a bump over long-term rates to ensure against issues that could affect their long-run return, such as loan prepayments.</font></li><li><font size="2">Our financial representatives negotiate the rate with the investors, we sell the debentures, and then add servicing fees to the debenture rate to arrive at our effective rate to the borrower.</font></li></ol><font size="2">In July, the borrower rate was <span style="font-weight: bold;">6.79%</span>. The 10-year Treasury rate on the sale date was<span style="font-weight: bold;"> 5.01%</span> -- meaning there was a 178 basis-point difference between the two rates.<br /><br />In August, we sold debentures on Aug. 7 - smack-dab in the middle of market volatility. The end rate to the borrower was <span style="font-weight: bold;">6.75%</span>. The 10-year T-rate was<span style="font-weight: bold;"> 4.74%</span>. The spread between the two rates went up to 201 basis points - a noticeable but not huge differential.<br /><br />Here's a quick-and-dirty interpretation of the pricing:<br /></font><ol><li><font size="2">Investors were a bit nervous, and did negotiate a slightly higher premium on debentures than in July, or in most prior months.</font></li><li><font size="2">The Fed's action to control long-term rates had brought 10-year treasuries and comparable instruments down in price - so the "base rate" was lower.</font></li><li><font size="2">The end result was that 504 borrowers still got a heck of a deal.</font></li></ol><font size="2">The 504 industry watches rate conditions very closely, and monitors the factors that can drive our rates to anticipate future problems. If we could predict future rates we'd be in a more lucrative line of business - but we can draw several conclusions:<br /></font><ol><li><font size="2">The investment community still views our debentures as a good investment.</font></li><li><font size="2">As long as the Federal Reserve continues to keep long-term rates stable and low, our prices will be relatively stable.</font></li><li><font size="2">For the last year, our effective rates to borrowers have been under <span style="font-weight: bold;">7.0%</span>. For a 20-year fixed-rate loan, that's a pretty good deal.</font></li></ol><font size="2">We'll continue to monitor the situation, and let you know if we see longer-term market shifts - but for now, we think you can anticipate that 504 loans will remain a solid financing mechanism for your borrowers.</font>
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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.BLOCK11"><font color="#000000" size="1" face="Arial,Helvetica,sans-serif" style="color:#000000;font-family:Arial,Helvetica,sans-serif;font-size:8pt;">504 Rates in Financial Market</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.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.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 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;"><div style="text-align: center;"><span style="color: rgb(0, 0, 102); font-family: Arial,Helvetica,sans-serif; font-size: 12pt;" styleclass="style_ArticleHeadline"><font size="2" face="Arial,Helvetica,sans-serif"><strong>CURRENT 504 LOAN RATES</strong></font></span><br /></div><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><br /></strong></font></font></span><div style="text-align: center;"><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 style="text-decoration: underline;">6.75%</strong> <br />fixed for 20 years for real estate projects, including acquisition, new construction and major renovation</font></font></span></div></div><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 /></strong></font></font></font></span></font></font><div style="text-align: center;"><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 style="text-decoration: underline;">6.85%</strong> <br /></font></font></font></span></font></font><div style="text-align: center;"><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">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><div style="text-align: left;"><font size="2"><font face="Arial,Helvetica,sans-serif"><font color="#000000"><br /></font></font></font><div style="text-align: center;"><font size="2"><font face="Arial,Helvetica,sans-serif"><font color="#000000"><font size="1">(as of August 7, 2007)</font></font></font></font></div></div>
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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 JULY 2007 SBA 504 APPROVALS</font></b></font></td></tr>
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<p class="MsoNormal"><font color="#000000"><em>Thanks for your partnership in boosting colume back up with some great deals in July!</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 Kannapolis Cable & Wire Manufacturer $732,000<br />BB&T Durham Golf Course<span> $1,700,000</span><br />BB&T Southern Pines Hotel $3,150,000<br />First Citizens High Point Import Car Dealership <span> </span></span><span style="font-size: 10pt; font-family: Arial;"><span> $595,000<br /><span style="text-decoration: underline;">HomeTrust Bank Swannanoa Childcare Center $340,000</span></span><span>
</span><b>TOTAL<span> </span><span> </span>$6,517,000</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. </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></font></font><a href="mailto:adelcio.lugo@self-help.org" linktype="undefined" target="_blank">Adelcio Lugo</a><font face="Arial,Helvetica,sans-serif"><font size="2"><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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