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Self-Help Ventures Fund January e-News Brief |  |
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Happy New Year from the Self-Help's SBA 504 lending team. We hit new records in 2006 partnering with you, our lenders, to bring the 504 program to many outstanding borrowers. We're excited to be kicking off a new year and look forward to deepening our partnerships with you and expanding the program's reach to benefit our small business communities in all seven Self-Help locations across the state. Each month we'll continue delivering 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 http://www.self-help.org/504loans. As always, we thank you for your support and look forward to working with you to provide 504 financing for North Carolina's growing small businesses.  Jim Overton Director of SBA 504 Lending
6.29% fixed for 20 years for real estate projects, including acquisition, new construction and major renovation. 6.44% fixed for 10 years for equipment and machinery. (Rate as of January 12, 2007)
Thank you for making December a solid month!
The Office of the Comptroller of Currency will be hosting a teleconference on SBA 504 loan program for lenders and CDC's Wed., Jan. 31, 2007, 2-3:30 p.m. "The 504 program is an attractive option for banks," said John C. Dugan, Comptroller of the Currency. "These loans can help banks retain and attract customers, assist in risk management, and earn fee and interest income." The seminar panelists include a senior banker, a CDC president, and an examiner from the OCC who will provide information and share their experiences with the 504 program. The seminar will include a welcome from Comptroller of the Currency, John C. Dugan. "Last year the SBA made over $5 billion in loans through our 504 program," said SBA Administrator Steven C. Preston. "I am pleased that the OCC is making an effort to highlight this program with banks as a way to better serve the small business community." For information and registration details visit the OCC website.
The North Carolina Banker's Association will host an SBA Lenders' Conference on Tues. and Wed., Feb. 27 and 28, at the downtown Greensboro Marriott. This is a great opportunity to learn how SBA programs can benefit your small business clients and to network with other SBA lenders and Self-Help officers. Details to follow soon or you can visit http://rs6.net/tn.jsp?t=46d6n8bab.0.8piyv8bab.6a6fftbab.1&ts=S0219&p=http%3A%2F%2Fwww.ncbankers.org%2F.
Are some of your clients veterans? There is a new veteran page on the SBA NC Web Site, offering information to veterans who want to start a business or expand. Veterans will find links to counseling and training resources; a training calendar; financing; and one-on-one assistance from an SBA Veterans BDO.
Owners: Ken and Ruth Bowers (50-50%) This project is a classic 504 economic development loan. It allowed co-owners Ken and Ruth Bowers to purchase and remodel a closed, run-down 1940s-era supermarket located directly across from town hall in Mount Holly, a Gaston County community hard-hit by textile and other manufacturing closures. The Bowers are using the space to house both City Cafe and Unique Systems. Since 1986 the Bowers have run Unique Systems, a heat control devices manufacturer founded in 1952. The company manufactures electronic control systems for thermoforming plastic extrusion machines. Cold and hot drink cups and lids, truck bed liners, horticulture products and fuel tanks are some examples of products the machines produce. They opened City Cafe in 2000 in Belmont to serve a varied menu to customers seven days a week. In June, 2005, the cafe lost its lease so the Bowers decided to relocate five miles away to Mount Holly. In May 2006, the Bowers were approved for an SBA 504 loan to purchase a new, 12,420-square foot building. The extra space allowed for a larger dining area and additional banquet meeting facility. 2,380 square feet of the space would house Unique Systems. This loan allowed them to transform an eyesore into a downtown anchor and sparked a retail renaissance. When this project first started nearly two years ago, there were numerous empty storefronts in this part of town, but now there are few. Both the restaurant and manufacturing businesses have survived the move, and the Bowers are now able to offer banquet services which had not previously been available in Gaston County. Huntersville Mayor Kim Phillips was in Mount Holly in November for the city’s first economic development conference held by the Mount Holly Community Development Foundation and the Gaston Chamber of Commerce. Mount Holly is working to protect its assets to accommodate inevitable growth as Charlotte residents look west for a place to live, officials say. "That caution will help the city maintain its small-town atmosphere, while building a healthy tax base," said Phillips.
Small businesses have generated 60-80% of net new jobs annually over the last decade.
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 NC Region: Dale Harrold and Ralph Ansell, Self-Help, Great Aunt Stella Center, 926 Elizabeth Ave., Suite 302, Charlotte, NC 28204 * 800-394-7428 Sandhills NC 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 NC Office: Anna Tefft, 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 Central NC 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
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