New SBA program to help SMEs with indebted commercial mortgages



Up to 20,000 small businesses nationwide may benefit from a new program launched this week by the U.S. Small Business Administration, which utilizes traditional 504 SBA-backed commercial mortgage loans to help struggling small enterprises.

The $15 billion measure stipulates that eligible businesses have at least 10 percent equity on a given property and structure a 50 percent/ 40 percent split between a private lender and the SBA.

Because the program does not require applicants to be expanding, the SBA is hoping the initiative will help out struggling or disadvantaged businesses in particular.

"Even small businesses that are performing well and making their payments on time could face foreclosure because of the difficulties they face in refinancing and restructuring their mortgage debt," said SBA Administrator Karen Mills. "This temporary program is another tool SBA can provide to help these small businesses remain viable and protect jobs."

Earlier this week, TMC, a Certified Development Company that provides SBA-backed 504 real estate loans, announced that lending to small businesses in California grew by 140 percent in the first fiscal quarter, providing a bit of encouragement for entrepreneurs creating a California LLC.

Tags : ca, financial management, small business management
Posted: Feb 17th, 2011
Annual Maintenance

Blog

Customer Service

Financial Management

Forming an LLC

Incorporating

Operations

Qualifying in Another State

Registered Agent

Sales & Marketing

Business Confidence, Business Hiring, California, Certified Documents, compliance , Corporate Agreements, Corporate Books, Corporate Bylaws, Corporate Compliance, Corporate Kits, Corporate Marketing, Corporate Minutes, corporate planning, corporation, entrepreneurship, Finance, Finances, financing, healthcare, incorporation, Leadership, LLC, Management, Marketing, New York, Operating Agreement, Operating Agreements, risk management, S Corp, Taxes, Texas, Annual filings, Arizona, Az, Business Licenses, Business licenses & permits, C corp, Ca, Certified Documents, CherryFusion has received an investment to help fund the launch of its website. , Corporation, Create an llc, Customer relationship management, Employee Management, Entity types, Entrepreneur, File for an llc, Finance, Financial management, Financing, Form an llc, Formation, How to incorporate, Incorporation, Incorporation information, Incorporation news, Jurisdictions, Llc, Llc filing, Llc formation, Lp, Marketing, New York, Ny, Operating agreement, Operating Agreements, Operations, Qualification, S corp, Sales & marketing, Small business management, Taxes, Texas, Tx,