SHVF Oct e-News Brief
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size=5>Self-Help Ventures Fund October e-News Brief</FONT></FONT></TD>
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<TD style="PADDING-LEFT: 5px; TEXT-ALIGN: left"><FONT
style="FONT-WEIGHT: bold; FONT-SIZE: 12pt; COLOR: #ffffff; FONT-FAMILY: 'Trebuchet MS',Verdana,Helvetica,sans-serif"
face="'Trebuchet MS',Verdana,Helvetica,sans-serif" color=#ffffff
size=3>Self-Help SBA 504 Program</FONT></TD>
<TD style="PADDING-RIGHT: 5px; TEXT-ALIGN: right"><FONT
style="FONT-WEIGHT: bold; FONT-SIZE: 12pt; COLOR: #ffffff; FONT-FAMILY: 'Trebuchet MS',Verdana,Helvetica,sans-serif"
face="'Trebuchet MS',Verdana,Helvetica,sans-serif" color=#ffffff
size=3>October 2006</FONT></TD></TR></TBODY></TABLE></TD></TR>
<TR style="BACKGROUND-COLOR: #ffffff" bgColor=#ffffff>
<TD style="PADDING-LEFT: 5px" vAlign=top align=left>
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style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; COLOR: #ffffff; FONT-FAMILY: Verdana, Geneva, Arial, Helvetica, sans-serif"
face="Verdana, Geneva, Arial, Helvetica, sans-serif" color=#ffffff
size=2>In This Issue:
<LI style="MARGIN-LEFT: 12pt; COLOR: #ffcc00; TEXT-INDENT: -12pt"
color="#FFCC00"><A style="COLOR: #ffffff"
href="file:///C:/Documents%20and%20Settings/jung/Desktop/New%20HTML%20Document.html#article1"
shape=rect color="#FFFFFF">Current 504 Loan Rates</A>
<LI style="MARGIN-LEFT: 12pt; COLOR: #ffcc00; TEXT-INDENT: -12pt"
color="#FFCC00"><A style="COLOR: #ffffff"
href="file:///C:/Documents%20and%20Settings/jung/Desktop/New%20HTML%20Document.html#article2"
shape=rect color="#FFFFFF">News For Your Borrowers: Lower SBA 504
Rates</A>
<LI style="MARGIN-LEFT: 12pt; COLOR: #ffcc00; TEXT-INDENT: -12pt"
color="#FFCC00"><A style="COLOR: #ffffff"
href="file:///C:/Documents%20and%20Settings/jung/Desktop/New%20HTML%20Document.html#article3"
shape=rect color="#FFFFFF">SBA 504 Underwriting Tip: Loan
Amounts</A>
<LI style="MARGIN-LEFT: 12pt; COLOR: #ffcc00; TEXT-INDENT: -12pt"
color="#FFCC00"><A style="COLOR: #ffffff"
href="file:///C:/Documents%20and%20Settings/jung/Desktop/New%20HTML%20Document.html#article4"
shape=rect color="#FFFFFF">Lenders Spotlight: September
Approvals</A>
<LI style="MARGIN-LEFT: 12pt; COLOR: #ffcc00; TEXT-INDENT: -12pt"
color="#FFCC00"><A style="COLOR: #ffffff"
href="file:///C:/Documents%20and%20Settings/jung/Desktop/New%20HTML%20Document.html#article5"
shape=rect color="#FFFFFF">Lenders' Breakfast in Winston-Salem</A>
<LI style="MARGIN-LEFT: 12pt; COLOR: #ffcc00; TEXT-INDENT: -12pt"
color="#FFCC00"><A style="COLOR: #ffffff"
href="file:///C:/Documents%20and%20Settings/jung/Desktop/New%20HTML%20Document.html#article6"
shape=rect color="#FFFFFF">Borrower Spotlight: Encore Sporthorse</A>
<LI style="MARGIN-LEFT: 12pt; COLOR: #ffcc00; TEXT-INDENT: -12pt"
color="#FFCC00"><A style="COLOR: #ffffff"
href="file:///C:/Documents%20and%20Settings/jung/Desktop/New%20HTML%20Document.html#article7"
shape=rect color="#FFFFFF">Contact Us</A>
<P></FONT></P></LI></TD></TR></TBODY></TABLE><FONT
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<P style="FONT-WEIGHT: bold"></P>
<P>This is Self-Help's electronic news brief for lenders. Each month we
deliver current SBA 504 loan rates and share information that can benefit
you and your small business customers. </P>
<P>For an explanation of the SBA 504 program, please visit the 504 section
of Self-Help's website at <A
href="http://www.self-help.org/504loans">http://www.self-help.org/504loans</A>.
</P>
<P>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. </P><BR>Jim Overton <BR>Director of SBA 504 Lending </FONT>
<P></P>
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face="'Trebuchet MS',Verdana,Helvetica,sans-serif" color=#000066
size=3>Current 504 Loan Rates</FONT></TD></TR>
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<P><B>6.34%</B> fixed for 20 years for real estate projects, including
acquisition, new construction and major renovation. </P>
<P><B>6.87%</B> fixed for 10 years for equipment and machinery. </P>
<P>(Rate as of Oct. 9, 2006) </P></DIV></FONT></DIV>
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<TD style="TEXT-ALIGN: right" vAlign=bottom width="100%"><FONT
style="FONT-WEIGHT: bold; FONT-SIZE: 13pt; COLOR: #000066; FONT-STYLE: italic; FONT-FAMILY: 'Trebuchet MS',Verdana,Helvetica,sans-serif"
face="'Trebuchet MS',Verdana,Helvetica,sans-serif" color=#000066
size=3>News For Your Borrowers: Lower SBA 504 Rates</FONT></TD></TR>
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<DIV style="MARGIN-TOP: -10px">
<P>On Oct. 1, the SBA guaranty fee on 504 loans dropped from <B>0.192%</B>
to <B>0.018%</B>. </P>
<P>What does this mean for you and your borrowers? On all new loans that
<B>are approved after Oct. 1</B>, the effective rate for the borrower will
end up being about <B>20 basis points <I>lower</I></B> than it will be for
loans approved in the prior fiscal year. </P>
<P>To give a sense of the impact of this change, we estimate that rates on
504 loans approved after Oct. 1 would have dropped from <B>6.55%</B> to
<B>6.34%</B>. For a 20-year fixed-rate loan, that's pretty darn good. </P>
<P>Why has this rate come down? Because the 504 loan portfolio has been
performing so well, we are seeing few loan losses, and thus we can charge
much lower guaranty fees (which translate as loan-loss reserves for the
SBA). </P>
<P>These fees change with each year, and apply to the federal fiscal year
in which the SBA approved the loan. So it will apply to all loans we get
approved from <B>Oct. 1, 2006, to Sept. 30, 2007</B>.
</P></DIV></FONT></DIV>
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<TD style="TEXT-ALIGN: right" vAlign=bottom width="100%"><FONT
style="FONT-WEIGHT: bold; FONT-SIZE: 13pt; COLOR: #000066; FONT-STYLE: italic; FONT-FAMILY: 'Trebuchet MS',Verdana,Helvetica,sans-serif"
face="'Trebuchet MS',Verdana,Helvetica,sans-serif" color=#000066
size=3>SBA 504 Underwriting Tip: Loan Amounts</FONT></TD></TR>
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<DIV style="MARGIN-TOP: -10px">
<P>As you look to help your borrowers take advantage of these low rates,
we thought we would review eligible project sizes for 504 financing. </P>
<P><B>Typical cap: </B>For most loans, we can finance up to <U>$1,500,000
</U>of the project amount. At our typical project participation of 40% of
the cost, that translates to projects of up to <U>$3,750,000</U>. </P>
<P><B>Public-Policy: </B>If the borrower�s project meets one of the SBA�s
public-policy goals, then our participation can extend up to
<U>$2,000,000</U>. In these cases, the 40% participation allows us to fund
projects as large as <U>$5,000,000</U>. Eligible public-policy definitions
include rural areas, veteran- owned and export businesses, and many more.
</P>
<P>Each public policy goal has a specific SBA definition. If you need to
figure out whether your customer meets one or more of these goals, <B>your
local Self- Help loan officer will be happy to help</B>. </P>
<P><B>Manufacturing:</B> For manufacturers, our 40% participation can
range up to <U>$4,000,000</U>. This limit means we can finance
manufacturing- related projects as large as <U>$10,000,000</U>. </P>
<P><B>Project Size Considerations:</B> In reality, <B>our projects often
can be much larger than the suggested maximums</B> for these three
categories. For instance, it�s not entirely necessary that we finance 40%
of the project budget (and for new businesses and special-purpose
properties, we have to finance less).Thus, we can use a $1.5 million loan
as part of a $6 million package, if the loan meets our underwriting
standards. </P>
<P>The upper end of the manufacturing scale is somewhat untested, as this
is a new feature of the program. But we <B>could see participating in
projects ranging in the $12-13 million range</B> if the deal is solid and
creates new jobs. </P>
<P>In sum, <B>we may have far more flexibility to help you with large
projects</B> than you realize. Feel free to contact your local Self-Help
loan officer about partnering to finance a large project.
</P></DIV></FONT></DIV>
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face="'Trebuchet MS',Verdana,Helvetica,sans-serif" color=#000066
size=3>Lenders Spotlight: September Approvals</FONT></TD></TR>
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<P><FONT
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<TD><B><FONT size=-1>LENDER </B></FONT></TD>
<TD><B><FONT size=-1>LOCATION </B></FONT></TD>
<TD><B><FONT size=-1>INDUSTRY </B></FONT></TD>
<TD><B><FONT size=-1>PROJECT AMOUNT </B></FONT></TD></TR>
<TR>
<TD><FONT size=-1>First Citizens Bank </FONT></TD>
<TD><FONT size=-1>Durham </FONT></TD>
<TD><FONT size=-1>Dentist </FONT></TD>
<TD><FONT size=-1>$910,000 </FONT></TD></TR>
<TR>
<TD><FONT size=-1>First Citizens Bank </FONT></TD>
<TD><FONT size=-1>Charlotte </FONT></TD>
<TD><FONT size=-1>Law Practice </FONT></TD>
<TD><FONT size=-1>$884,600 </FONT></TD></TR>
<TR>
<TD><FONT size=-1>First National Bank & Trust </FONT></TD>
<TD><FONT size=-1>Ramseur </FONT></TD>
<TD><FONT size=-1>Apparel Manufacturing </FONT></TD>
<TD><FONT size=-1>$2.49 Million</FONT></TD></FONT></TR>
<TR>
<TD><FONT size=-1>GE Capital </FONT></TD>
<TD><FONT size=-1>Fuquay-Varina </FONT></TD>
<TD><FONT size=-1>Construction: Trim/Carpentry </FONT></TD>
<TD><FONT size=-1>$1.2 Million</FONT></TD></TR>
<TR>
<TD><FONT size=-1>Southern Bank & Trust </FONT></TD>
<TD><FONT size=-1>Murfreesboro </FONT></TD>
<TD><FONT size=-1>Restaurant </FONT></TD>
<TD><FONT size=-1>$460,000 </FONT></TD></FONT></TR>
<TR>
<TD><FONT size=-1>Temecula Valley Bank </FONT></TD>
<TD><FONT size=-1>Pineville </FONT></TD>
<TD><FONT size=-1>Disaster Recovery </FONT></TD>
<TD><FONT size=-1>$660,000
</FONT></TD></FONT></TR></TBODY></TABLE></FONT></P></DIV></FONT></DIV>
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size=3>Lenders' Breakfast in Winston-Salem</FONT></TD></TR>
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<DIV style="MARGIN-TOP: -10px">
<P>Date: Oct. 18<BR>Time: 8 a.m.<BR>Price: free, breakfast
provided<BR>Location: Piedmont Club, BB&T Financial Center, 19th
floor, 200 W. Second St., Winston-Salem </P>
<P>Self-Help is hosting a breakfast and panel discussion for Triad
lenders. <B>Stan Mandel</B>, director of Wake Forest University�s Angell
Center for Entrepreneurship, will address the featured topic: <I>Pockets
of growth: small business trends in the Triad</I>. </P>
<P><B>A panel discussion on innovative financing options </B>for small
businesses and owner-occupied commercial real estate will follow. </P>
<P>The event is free and open to Triad-area lending and economic
development professionals. <B>Please RSVP to Linda Comstock</B> at (800)
269.7426 ext. 2610 or lindac@self-help.org by <B>Oct. 16, 2006</B>, as
space is limited. </P></DIV></FONT></DIV>
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size=3>Borrower Spotlight: Encore Sporthorse</FONT></TD></TR>
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<P>Lending Partner: The Fidelity Bank<BR>Location: Sanford,
N.C.<BR>Project: Land purchase of 30 acres and covered arena construction
(15,000 sq. ft). <BR>Community Impact: Rural development, woman-owned sole
proprietorship </P>
<P>Susan "Susie" Wiedman partnered with The Fidelity Bank and Self-Help to
expand her dressage training business in a rural area between Sanford and
Apex. When Susie approached us for a loan she had more than 20 years of
experience as a self-employed horse trainer and award-winning dressage
professional, competing regularly at the Grand Prix de Dressage, the
highest level of competition in the world. </P>
<P>Operating as a sole proprietorship, Susie used her SBA 504 loan to buy
30 acres of land and construct a 15,000 square-foot indoor arena for <A
href="http://rs6.net/tn.jsp?t=6thj4ybab.0.0.6a6fftbab.0&ts=S0206&p=http%3A%2F%2Fwww.encoresporthorse.com">Encore
Sporthorse Dressage Training Center</A>. Prior to this expansion, Encore
Sporthorse had been leasing boarding and training space, usually without
access to an indoor or covered arena, which resulted in an uneven revenue
stream and limited growth opportunities. Poor weather alone was resulting
in estimated annual losses of $50,000. </P>
<P>"My business has doubled," says Susie. "I have 15 horses in full
training now, which is a phenomenal increase in business due to the
quality of facility we were able to buy." </P>
<P>There are three main barns on the property, each with 42 airy box
stalls, tack rooms and wash racks. Services include horse training, riding
lessons, clinics and shows. </P>
<P>�I wouldn�t have been able to do this without the financing,� says
Susie. �We now have one of the largest equestrian facilities in North
Carolina. It was nice to have someone willing to take risk on a horse
farm. Horses don�t generally engender lots of confidence in lenders. This
has turned out really well for us.� </P></DIV></FONT></DIV>
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<P>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. </P>
<P><B>Charlotte Region:</B> <A
href="mailto:dale.harrold@self-help.org">Dale Harrold</A>and <A
href="mailto:ralph.ansell@self-help.org">Ralph Ansell</A>, Self-Help,
Great Aunt Stella Center, 926 Elizabeth Ave., Suite 302, Charlotte, NC
28204 * 800-394-7428 </P>
<P><B>Fayetteville Region:</B> <A
href="mailto:allen.cofiori@self-help.org">Allen Cofiori</A>, Self-Help,
100 Hay St., Suite 300, Fayetteville, NC 28301 * 800-774-7966 </P>
<P><B>Northeastern NC Region:</B> <A
href="mailto:gerry.blood@self-help.org">Gerry Blood</A>, Self-Help, 301
South Evans St., Suite 306, Greenville, NC 27858 * 800-893-9669 </P>
<P><B>Southeastern NC Region:</B> <A
href="mailto:louis.rogers@self-help.org">Louis Rogers</A>, Self-Help, 272
N. Front St., Suite 215, Wilmington, NC 28401 * 877-559-4284 </P>
<P><B>Triad/Greensboro Office:</B> <A
href="mailto:anna.tefft@self-help.org">Anna Tefft</A>, Self-Help, 122 N.
Elm St., Suite 1015, Greensboro, NC 27401 * 800-269-7426 </P>
<P><B>Triad/Winston-Salem Office:</B> <A
href="mailto:anna.tefft@self-help.org">Anna Tefft</A>, 500 West Fourth
Street, Suite 200, Winston-Salem, NC 27101 * 336-478-2611 </P>
<P><B>Triangle Region:</B> <A href="mailto:joe.osowski@self-help.org">Joe
Osowski</A>, Self-Help, 301 W. Main St., PO Box 3619, Durham, NC 27702 *
800-476-7428 </P>
<P><B>Western NC Region:</B> <A href="mailto:tom.byers@self-help.org">Tom
Byers</A>, Self-Help, 34 Wall St., Suite 704, Asheville, NC 28801 *
800-229-7428 </P>
<P>Contact our <B>SBA 504 Program Director</B>, <A
href="mailto:jim.overton@self-help.org">Jim Overton</A>, , at
919-956-4473. </P>
<P>Or contact our new <B>SBA 504 Marketing Officer</B>, <A
href="mailto:jamie.miyares@self-help.org">Jamie Miyares</A>, , at
919-956-4670. </P></DIV></FONT></DIV>
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