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June 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;">&nbsp;</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=1101692748250&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 />June 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">Thanks to all our lending partners for bringing more deals to the table in May than any other this year thus far. Together, we've consistently boosted the number of approved loans every month this year.<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 size="2"><a href="http://rs6.net/tn.jsp?t=9oqcabcab.0.0.6a6fftbab.0&ts=S0255&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. 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 statewide.<br /></font><font style="color: rgb(0, 0, 0);" size="2"><br /></font>&nbsp;<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=1101692748250"><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 />6.68%</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 />6.36%</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 June 8, 2007)</font></font></font></font></div>

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<p style="FONT-WEIGHT: bold; COLOR: rgb(0,0,102); FONT-FAMILY: Arial,Helvetica,sans-serif"><font color="#000066" size="2"><strong>UNDERWRITING TIP: SBA SMOOTHES OUT 504 CLOSING PROCESS</strong></font></p><font size="2">Effective Aug. 1, the SBA will complete a longstanding program to make 504 closing packages more uniform and consistent - and thus easier for CDCs and lenders alike to use in getting 504 loans funded more efficiently.<br /><br /><span style="FONT-WEIGHT: bold; FONT-STYLE: italic">What's New: Streamlined Features</span><br /></font>
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<li><font size="2">The SBA is adopting new versions of several documents - in particular, certifications from lenders, CDCs and borrowers - that will allow CDCs to submit fewer documents for SBA review on each closing package.</font>
<li><font size="2">The CDCs will have a clearer idea of what constitutes a complete closing package, and will be able to systematize the closing process more effectively.</font>
<li><font size="2">The SBA's review process will be less intense on each loan, allowing their counsel to move through loans swiftly.</font></li></li></li></ol><font size="2">In this first phase of the streamlining process, there won't be a lot of direct paperwork reduction - as CDCs will still need to collect most of the same information they have in the past. The industry is still working with the SBA to explore ways to reduce paperwork while still producing appropriate protections for the SBA's and CDC's interests.<br /><br /><span style="FONT-WEIGHT: bold; FONT-STYLE: italic">What this Means for You</span><br /><br />The SBA's move toward streamlining will make it far easier to set expectations for these loans, and pave the way to consistent requirements in the process.<br /><br />Among the documents that will change fairly dramatically are the two documents that lenders must provide regarding the status of their loans: the Third Party Lender Agreement, and the Interim Lender Certification.<br /><br />If you would like to review copies of these new forms to see what impact they might have on your certification process, e-mail us at:
</a> <a href="mailto:504loans@self-help.org" linktype="undefined" target="_blank">504loans@self-help.org</a></font><font size="2">. We'll be happy to send you a sample copy for your review.</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);">BORROWER SUCCESS STORY</span><br /><br />Owners: </span>Neil and Kathy Grigg<br /><span style="font-weight: bold;">Lending Partner: </span>Interim Financing: BB&T; Permanent Finaincing: Bank of N.C. &nbsp;&nbsp; &nbsp;&nbsp;  <br /><span style="font-weight: bold;">Location:</span> Thomasville<br /><span style="font-weight: bold;">Project: </span>Construction of 65,000 square-foot building; $2,240,000 <br /><span style="font-weight: bold;">Community Impact:</span> 69 (59 low-income) jobs maintained; 21 new jobs created (low-income)</font>

<p class="MsoFooter" style="margin: 5pt 0in;"><font size="2">In</font> <font size="2">2000, Neal and Kathy Grigg realized they needed a more efficient facility in
order to boost production at their mattress manufacturing plant in High Point. So they took
out an SBA 504 loan to construct a 65,000 square-foot facility on 10 acres in Thomasville,
strategically located near Bassett and Thomasville Furniture on Business
Interstate 85.</font></p>



<p class="MsoFooter" style="margin: 5pt 0in;"><font size="2">"Using
a 504 loan to finance this big decision was a no-brainer," says Neal, CMG's
president. "All the work was on the front end, and with BB&T, Bank of North
Carolina and Self-Help on board, we didn't really have to think about it."</font></p>



<p class="MsoFooter" style="margin: 5pt 0in;"><font size="2">To read the complete article, </font></font></a><font color="#000000" size="1" face="Arial,Helvetica,sans-serif" style="color:#000000;font-family:Arial,Helvetica,sans-serif;font-size:8pt;"><a href="http://rs6.net/tn.jsp?t=9oqcabcab.0.0.6a6fftbab.0&ts=S0255&p=http%3A%2F%2Fselfhelp.org%2Fsuccess-stories%2F504_Carolina%2520Mattress%2520Guild_Neal%2520Grigg_portrait%2520in%2520warehouse1%2520for%2520web_2007.jpg%2Fview&id=preview" linktype="undefined" target="_blank">click here</a><font size="2">.<br /></font></p></font></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 size="2"><span style="font-weight: bold; color: rgb(0, 0, 102);">NEWS</span><span style="font-weight: bold;"><span style="color: rgb(0, 0, 102);">: SBA ANNOUNCES NEW PATRIOT EXPRESS LOAN INITIATIVE</span><br /></span></font>&nbsp;<br /><font size="2">On June 13 the SBA added to its portfolio of financial, procurement and technical assistance programs, a loan product aimed at the military community: the<span style="font-style: italic;"> Patriot Express Loan Initiative</span>.&nbsp; The program is similar to the SBA Express program, but features enhanced guarantee and interest rates. Veterans, Reservists and National Guard members as well as their spouses and widows or widowers of veterans are among the group slated to receive assistance. They may use the program to start-up or expand their businesses; buy equipment, inventory or real-estate; or assist with working capital needs.&nbsp; The SBA guarantees more than $1 billion annually in loans to veteran business owners.<br /><br />For more information, please visit
          </a> <a href="http://rs6.net/tn.jsp?t=9oqcabcab.0.0.6a6fftbab.0&ts=S0255&p=http%3A%2F%2Fwww.sba.gov%2Fpatriotexpress&id=preview" linktype="undefined" target="_blank">www.sba.gov/patriotexpress</a>.&nbsp;</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.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;">504 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.BLOCK7"><font color="#000000" size="1" face="Arial,Helvetica,sans-serif" style="color:#000000;font-family:Arial,Helvetica,sans-serif;font-size:8pt;">Borrower Success Story</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.BLOCK12"><font color="#000000" size="1" face="Arial,Helvetica,sans-serif" style="color:#000000;font-family:Arial,Helvetica,sans-serif;font-size:8pt;">New SBA Loan Initiative</font></a></td>
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		<div style="background-color:#000066;color:#FFFFFF;font-family:Arial,Helvetica,sans-serif;font-size:10pt;" bgcolor="#000066"><font color="#FFFFFF" size="2" face="Arial,Helvetica,sans-serif" style="color:#FFFFFF;font-family:Arial,Helvetica,sans-serif;font-size:10pt;"><b>Did You Know?</b></font></div>




<p class="MsoNormal"><span>More than 30 percent
of small-business owners report working an average of at least 10 hours daily,
compared to only 19 percent of the general population, according to the monthly
Discover Small Business Watch index.</span></p>


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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 MAY 2007 SBA 504 APPROVALS</font></b></font></td></tr>
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<p><font color="#000000"><em>Thank you for making MAY a productive month!</em></font></p>











<p class="MsoNormal"><b><u><span style="font-size: 10pt; font-family: Arial;">LENDER<span>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></span></u></b><b><span style="font-size: 10pt; font-family: Arial;"><span>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span><u><span>&nbsp;</span>LOCATION<span>&nbsp;&nbsp;
</span></u><span>&nbsp;</span><span>&nbsp;&nbsp;</span><u><span>&nbsp;</span><span>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</span>INDUSTRY<span>&nbsp;
</span><span>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</span></u><span>&nbsp;&nbsp;</span><span>&nbsp;</span><u>PROJECT
COST</u></span></b><br /><span style="font-size: 10pt; font-family: Arial;">Aquest Bank&nbsp;&nbsp;  &nbsp;&nbsp;  &nbsp;&nbsp;  &nbsp;&nbsp;  &nbsp;&nbsp;  Cornelius&nbsp;&nbsp;  &nbsp;&nbsp;  &nbsp;&nbsp; <span>Tea, light food service, gift shop&nbsp;&nbsp;&nbsp; </span><span>&nbsp;</span><span>&nbsp;</span><span>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span>$475,000<br />BB&T&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; Greensboro&nbsp;&nbsp;&nbsp; &nbsp; Convient Store&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; &nbsp;&nbsp; &nbsp; $1,600,000&nbsp;&nbsp;&nbsp; SunTrust Bank&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; &nbsp;<span>Raleigh&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; Full-service furniture restoration&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; $280,000<br /></span>SunTrust Bank&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; Mebane&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; <span style="text-decoration: underline;">Cabinetry & millwor</span><span><span style="text-decoration: underline;">k &nbsp; &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;</span> &nbsp;<span style="text-decoration: underline;">&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; &nbsp; $2,230,000</span></span></span><span style="font-size: 10pt; font-family: Arial;"><br /><span>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span><span>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</span><b>TOTAL<span>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span><span>&nbsp; </span><span>&nbsp;&nbsp;&nbsp;&nbsp; </span>$4,585,000</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 with expansion needs.&nbsp; </font></font></p>
<p><font face="Arial,Helvetica,sans-serif"><font size="2"><font color="#000000"><strong>Charlotte NC Region:</strong>&nbsp;</font></a><a href="mailto:dale.harrold@self-help.org" target="_blank"><font color="#3300ff">Dale Harrold</font></a><font color="#000000">&nbsp;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&nbsp; * 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&nbsp;919-956-4670.&nbsp; </font></font></font></p></font></td></tr></table>
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