6.33% 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.

The borrower fee has dropped to 0.018%, and that is reflected in the lower rates this month. Your clients will be pleased to see that rates are continuing to trend down from the spike to 7.25% in July, as the 10-year Treasury rates have come back down from earlier fears of steadily increasing inflation.

(Rate as of Nov. 13, 2006)

You've probably seen that the U.S. EPA's "All Appropriate Inquiries" Standards for environmental review went into effect Nov. 1.

The SBA is revising its Standard Operating Procedures (SOP) on environmental standards. The changes will affect all SBA loans - including those made through the 504 and the 7(a) loan programs.

We are monitoring these changes carefully, and will give you regular updates, including our document called "Environmental Assessment Standards for SBA 504 Loans" - a quick guide to complying with SBA environmental review criteria. (If you need a copy of the current version, please e-mail us.)

The SBA now requires that all Phase I reports conducted as part of an SBA loan be "AAI-compliant." The AAI Phase I standards stress several major issues:

1. The environmental professional signing off must have a higher threshold of education and experience than under previous standards.
2. The analyst must trace the property's history back to its developed use – as compared to the old 1940 standard.
3. The analyst must perform additional interviews to determine there is no evidence of recognized environmental conditions.

Your regular Phase I analysts will know how to meet these standards – but you'll need to specify that they adhere to AAI guidelines to get the report we'll need.

Underwriting Hint: Before you decide what sort of environmental analysis to do on a property you want to finance through the SBA 504 program, call your local Self-Help loan officer. We'll give you timely information on the most cost-efficient way to satisfy SBA standards.

Also, we'll keep you updated as we learn more about the SBA's revised standards.

Thank you for making October a spectacular month!

LENDER	LOCATION	INDUSTRY	PROJECT AMOUNT
Bank of America	Durham	Pharmaceutical Distributor	$1,345,000
BB&T	Southern Pines	Motel	$1,150,000
Capital Bank	Asheville	Boat Dealership	$380,000
First Bank	Southern Pines	Day Care	$300,000
First Citizens Bank & Trust	Bladenboro	Day Care	$250,000
First Citizens Bank & Trust	Fletcher	Disaster Resoration Services	$490,000
GE Capital	Lumberton	Home Health Care	$7,200,000
Stearns Bank	Charlotte	Extended-Stay Hotel	$4,000,000
Zions First National Bank	Kings Mountain	Full-Service Hotel	$3,247,000

Lending Partner: GE Capital
Location: Lumberton, N.C.
Company: Native Angels Home Care Agency Inc.
Project: Construction of new 36,000 square-foot headquarters building; $7,200,000
Community Impact: Rural development, Lumbee Native American woman-owned

Sisters Bobbie Jacobs-Ghaffar and Lesa Jacobs used their more than 20 years of health and human-services experience to found Native Angels, a holistic, home-grown health care business that provides a broad range of services to southeastern North Carolina - with a focus on Robeson, Cumberland, Hoke and Scotland Counties.

Jacobs, who is a registered nurse, says "A lot of people said we wouldn't make it - 'it's a fly-by-night operation' - but we’re flying high now."

This $7.2 million project involves constructing a new building called Angel Exchange, located on the east side of Lumberton in a new office park the county developed. Along with health care services, it will house an urgent care service, pharmacy, spa, full-service cafeteria, chapel, and gift shop. The facility will also include a 110,000 square-foot sports complex run by the Angel Elite Sports Foundation.

At a recent groundbreaking ceremony attended by about 100 federal, state and local leaders as well as business community members, U.S. Rep. Mike McIntyre said, "What a great example to hold up nationally to show what communities can do when they come together - I encourage you to continue fighting for what is important - our health, our families and our future."

A unique strength of the business stems from the Certificate of Need (CON) it holds, which has allowed them to expand their services dramatically. The N.C. Division of Health and Human Services issues and controls these certificates, and they may restrict the move of new players into these health-care fields in regard to health care that draws reimbursements from state and federal sources.

At the groundbreaking ceremony Jimmy Goins, chairman of the Lumbee tribe said, "This is not a new business venture, this is a new love venture. On behalf of the Lumbee tribe, we are so proud of you today."

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 * 336-478-2611

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