Utah District January Newsletter

 

 

Nancy Byerly

Lead Business Development Specialist

U.S. Small Business Administration

125 S. State Street, Room 2227

Salt Lake City, UT 84138

Phone: (801) 524-6831

Fax: (801) 524-4160

The latest Michigan Bank Notes newsletter is ready!

Dear Subscriber,

The latest Michigan Bank Notes newsletter is attached.

The Michigan Bank Notes is a periodic newsletter that provides the lending
community with up-to-date information on SBA programs and issues affecting
SBA’s loan programs.

In this edition you will find:

1. Reinstatement of Recovery Act Provisions

2. Recovery Act Loan Documentation

3. Lender Portal Updates

For more information about the SBA's Michigan District Office, please visit our
Web site at www.sba.gov/mi or telephone (313) 226-6075.

Thank you for subscribing to our newsletter.

The Michigan District Office

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ADDITIONAL $125 MILLION IN RECOVERY ACT FUNDING

December 29, 2009
SBA TN Lenders,
ADDITIONAL $125 MILLION IN RECOVERY ACT FUNDING
On December 19, 2009, President Obama signed the Department of Defense
Appropriations Act, 2010 (P. L. 111-118). This legislation provides an
additional $125 million to support approximately $4.5 billion in new SBA 7(a)
and 504 loans under Sections 501 and 502 of the American Recovery and
Reinvestment Act of 2009 (the "Recovery Act"). Specifically, these funds are
available for the payment of certain 7(a) and 504 loan fees and a higher SBA
guaranty of up to 90 percent for certain 7(a) loans. Both initiatives have
contributed to a significant resurgence in funding to small business by SBA's
participating lenders and Certified Development Companies (CDCs) since
President Obama signed the Recovery Act into law on February 17, 2009.
As soon as the additional funds appropriated in the recent legislation are ready
to be released, all "conditionally approved" requests in the 7(a) and 504
Recovery Loan Queues will be funded, along with new loan requests, in the
order they are received, until the new funds are exhausted. Because of this
extension, new 7(a) loan applications with the higher guaranty may be
approved by SBA through February 28, 2010 or such earlier date as funds are
exhausted. Approvals of loans made possible by the new funding are expected
to begin December 28, 2009.
SBA will refund to lenders eligible fees on those non-Recovery Act loans
approved on or after December 19, 2009 that would have been eligible for fee
relief. There will be no fee refunds or higher guarantees for loans approved as
non-Recovery Act loans prior to December 19, 2009.
Please see attached SBA Notice 5000-1136 for complete details. Contact
your Lender Relations Specialist if you have any questions.

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December 2009 Newsletter

Here's our December 2009 newsletter.

Happy Holidays from your friends at the SBA - San Diego District Office.

Rick

As always, if you no longer want to be on the mailing list; just forward this
message to me with "UNSUBSCRIBE" in the message. I will remove your name
from the list and send a message to you to let you that it was removed.

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A message from the California State Board of Equalization

The California State Board of Equalization has asked us to send this notice and
message to our newsletter subscribers to inform them of a new federal law.
We will send these notices from Federal, State or Local government agencies
to inform you of changes to laws that affect business interests.

As always, if you no longer wish to receive our newsletters or these notices,
please forward this e-mail to richard.blum@sba.gov with unsubscribe in the
message and I will remove your name from the e-mail distribution list.

Rick

Dear Community Partners and Associations:
Flavored Cigarettes Banned in U.S.

A new federal law went into effect on September 22, 2009, banning flavored
cigarettes and roll-your-own tobacco from being manufactured, imported or
sold in the United States. These products are subject to seizure by federal,
state, or local enforcement authorities. Members of your association who sell
cigarettes or roll-your-own tobacco may be affected by this new law. It is
important, therefore, that your members are informed of the new restrictions
regarding the sale of these products.

The State Board of Equalization (BOE) is asking for your assistance with our
efforts to inform individuals and businesses who sell these types of products.
Attached to this email is Special Notice on this topic. This Special Notice is
also available on the BOE website at
http://www.boe.ca.gov/news/pdf/SpecNote%20web.pdf.

Your assistance in helping us spread the word is greatly appreciated! We
encourage you to share this information with your members as soon as
possible.

In addition to the attached Special Notice, the BOE has a variety of other
outreach tools. We would greatly appreciate your time in completing the brief
online survey to provide us your feedback on how you can assist with our
education and outreach efforts. Please respond by Friday, December 11,
2009.

Click here to take the brief survey
http://www.boe.ca.gov/info/flavcig_survey.htm

If you indicated you are interested in partnering with us, one of our Outreach
Analysts listed below will be contacting you soon to coordinate our joint
outreach efforts.

Southern California Northern California & Bay
Area
Ms. Joan Groener Ms. Linda Lewis
Phone: 310-342-1043 Phone: 916 322-8400
Email: Joan.groener@boe.ca.gov Email:
Linda.lewis@boe.ca.gov

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SBA Utah District December Newsletter

 

 

Nancy Byerly

Lead Business Development Specialist

U.S. Small Business Administration

125 S. State Street, Room 2227

Salt Lake City, UT 84138

Phone: (801) 524-6831

Fax: (801) 524-4160

Upcoming ReadyTalk Session on Thursday

First Thursday ReadyTalk Agenda
December 3, 2009
10:00 am

The agenda for the next monthly ReadyTalk session for lenders is scheduled
for Thursday, December 3 (if there are any additional items you'd like the
Michigan District Office to cover beyond these, let Al Cook know by e-mail at
allen.cook@sba.gov):

Agenda:

New Unilateral Matrix (Again!)

Update on Recovery Act, Notice 5000-1131
Updates on Loan Activity

Lenders' Conference, (scheduled for Tuesday, March 23, 2010)

General Q & A with participating lenders

ReadyTalk is a Webinar program utilizing the Internet and a conference call
system. To access the system:

From your computer:

1. Logon to www.readytalk.com

2. Login as a participant using the access code 3051501

3. Enter your name, e-mail address, and company name as requested

From your telephone:

1. Dial 866.740.1260

2. Enter the Access Code 3051501 & press #

3. Say hello!

If this is your first ReadyTalk Conference, we recommend that you test your
browser compatibility and network connection prior to the conference by
logging onto the ReadyTalk site and click on the "Test your Computer" button
under the login.

Please join us on December 3.

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