6.09% fixed for 20 years for real estate projects, including acquisition, new construction and major renovation.

6.73% fixed for 10 years for equipment and machinery.

(Rate as of December 5th, 2006)

The North Carolina Banker's Association will host an SBA Lender's Conference Tues. and Wed., Feb. 27 and 28, at the downtown Greensboro Marriott. This is a great opportunity learn how SBA programs can benefit your small businesses and to network with other SBA lenders and Self-Help officers. Details to follow soon, or visit http://rs6.net/tn.jsp?t=qzxgx9bab.0.0.6a6fftbab.0&ts=S0221&p=http%3A%2F%2Fwww.ncbankers.org%2Fevents.

We look forward to seeing you there!

Thank you for making November a stellar month! You helped fund $20,718,935 in projects!

LENDER	LOCATION	INDUSTRY	PROJECT AMOUNT
Capital Bank	Raleigh	Food, Beverage & Entertainment	$3,600,000
First Citizens	Charlotte	Wholesale Home Fashions & Nondurable Goods	$548,000
GE Capital	Raleigh	Information Technology Services	$865,000
Harrington Bank	Southern Pines	Historic Inn & Tavern	$2,580,000
Wachovia	High Point	Barber School	$3,089,000
Zions First National Bank	Durham	Luxury Hotel	$10,036,935

Lending Partner: Bank of North Carolina (formerly SterlingSouth Bank & Trust Company)
Location: Greensboro
Company: Ashtae Products Inc.
Project: Purchase of 46,000 square-foot headquarters building; $1,327,000 total project cost
Community Impact: African-American owned, 10 jobs created

Michael and Ramona Woods, who have been married for more than 15 years and in business together over 10 years, are the President/CEO and CFO respectively of Ashtae Products, Inc., a multicultural hair-care distribution company headquartered in Greensboro. They launched Ashtae Products in 1995 by taking out an SBA loan, a mortgage on their house and even borrowing from loyal customers.

They’ve grown tremendously since then, doubling sales each of the company’s first three years, and in March were named the 2006 SBA Minority Small Business Champions of the year. The award recognizes the Woods' for their efforts to "Advance minority small business interests and improve economic conditions in the minority small business community." The previous year, the Woods won the Greensboro Chamber of Commerce Minority Small Business Persons of the Year award.

In April this year, Ashtae Products was approved for an SBA 504 loan for $530,800 in partnership with Self-Help and Bank of North Carolina (formerly SterlingSouth Bank) in order to purchase a building on Eugene St. just south of downtown Greensboro to help double its capacity. In 2005 its sales were $5,000,000 and now that is slated to double as well, with $10,000,000 in projected sales over the next five years. Last year alone, Ashtae expanded its network from 11 to 17 distributors and has entered many new markets, including Japan, Jamaica, Canada, England and the Caribbean.

"Working with the bank and with Self-Help was a simple process," says Ramona. "Although there was lots of paperwork, the process itself was easy and we liked the low rate and the fact that the loan was fixed over 20 years. If you would have caught us seven years ago, the loan process may have been different and riskier, but we are a sound, profitable business with substantial savings, which is a refreshing place to be."

The new 46,000 square-feet building houses offices and a warehouse, with 24,000 square feet serving as its for-profit minority-focused small-business incubator. Most of the 20-30 participating businesses specialize in consumer products or cosmetics and cosmetology, in synch with Ashtae Product's core competencies. Prior to creating the incubator, the Woods had been holding business development classes for many of its customers.

Ashtae Products faces fierce competition in an industry dominated by big brands, but is using its in-depth customer knowledge to create innovative products like hair wax that works in hot or cold settings, for example, to prevail. They're also implementing strong new business tactics, like allowing clients to order only one week's worth of product so they don't tie up cash in inventory.

Two years ago Ramona and Michael published Against the Grain, a book inspired by their clients and own personal experiences. Ashtae means "the power of positive thought" in Nigerian and matches their two daughters' names, Ashley and Taylore.

In addition to running their operations and business incubator, management offers International Hair & Business Symposiums. These events give cosmetologists the opportunity to gain hands-on experience. Symposiums in places like Atlanta and Buffalo have been huge successes.

One fellow stylist and customer says of Ramona and Michael, "They started out at the bottom, but they show they care about their customers. I see that they're going to go higher."

For more information about Ashtae Products Inc., visit http://www.ashtae.com.

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.

Charlotte Region: Dale Harroldand Ralph Ansell, Self-Help, Great Aunt Stella Center, 926 Elizabeth Ave., Suite 302, Charlotte, NC 28204 * 800-394-7428

Fayetteville Region: Allen Cofiori, Self-Help, 100 Hay St., Suite 300, Fayetteville, NC 28301 * 800-774-7966

Northeastern NC Region: Gerry Blood, Self-Help, 301 South Evans St., Suite 306, Greenville, NC 27858 * 800-893-9669

Southeastern NC Region: Louis Rogers, Self-Help, 272 N. Front St., Suite 215, Wilmington, NC 28401 * 877-559-4284

Triad/Greensboro Office: Anna Tefft, Self-Help, 122 N. Elm St., Suite 1015, Greensboro, NC 27401 * 800-269-7426

Triad/Winston-Salem Office: Anna Tefft, 500 West Fourth Street, Suite 200, Winston-Salem, NC 27101 * 800-269-7426

Triangle Region: Joe Osowski, Self-Help, 301 W. Main St., PO Box 3619, Durham, NC 27702 * 800-476-7428

Western NC Region: Tom Byers, Self-Help, 34 Wall St., Suite 704, Asheville, NC 28801 * 800-229-7428

Contact our SBA 504 Program Director, Jim Overton, at 919-956-4473.

Or contact our SBA 504 Marketing Officer, Jamie Miyares, at 919-956-4670.

Email : 504loans@self-help.org

Visit Us Online : http://www.self-help.org/504loans