Foot-dragging at the SBA

Small Business Owners Still Waiting Hurting

I've been a staunch supporter of the U.S. Small Business Administration (SBA) for years. I believe that this government agency has done quite a lot of good for small business owners and our economy, and it continues to do good in many respects.

Recently, however, I (along with lots of small business owners and lenders nationwide) have become very frustrated with the progress of the SBA 504 Refinance Program. This is a program I’ve been arguing for since 2004, when I was first quoted in the Wall Street Journal about it, because it has the potential to help small business owners and our overall economy during these “interesting” economic times. Despite the benefits provided by 504 Refis, the SBA has been slow to stipulate all the regulations and instructions for using it…and it continues to place tight restrictions on which businesses can qualify for these refinances.

The Economic “Recovery” is Stalled

The economy is “officially” in recovery mode, and has been for a while, but we all know that things are still tough throughout our economy. Depending on what you read from various news outlets, it’s getting more and more difficult to understand what’s really going on. So how are small businesses supposed to react to confusing and contradictory new reports?

Discussing SBA Loans at the Florida Statewide Lenders Conference

I had the pleasure of sitting down with Bob Coleman at the Florida Statewide Lenders Conference yesterday to talk about the latest and most relevant issues facing small business owners these days. If you don’t know Bob, he’s a great guy and very influential in the world of small business lending.

Exposed: The Dirty Little Secret of Small Business Lending

When a small business owner wants to buy commercial property for his or her business, there are several financing options to choose from. This probably isn’t news to you, especially if you’ve been reading this blog for a while now. What’s surprising, though, is how often many lenders gloss over (or omit altogether) certain loan options and focus only on ones that are more beneficial for the bank (or non-bank lending institution).

Happy 2011 from the SBA 504 Experts

Our First Video Blog of the New Year

As you may have read in my last blog post, MCC had a very successful 2010. We have some great people working for us, and they really outdid themselves last year. But we also have our Clients and Referral Partners to thank for our success. I’d really like to thank you face to face, so go to www.504blog.com to watch my first video blog post of 2011.

Thanks again, and make it a great 2011!

Chris

P.S. Pay close attention at about 1:40 in the video, when I completely forget our toll-free phone number. We probably should have edited it out, but I thought you it might make you laugh.

P.P.S. Let me know if you or someone you know is interested in owning commercial property. Right now is a great time to make the move from renting to owning, or to acquire a larger facility to accommodate future growth. Call me at 1-866-622-4504 (I remembered it this time!) or email me at ChrisHurn@MercantileCC.com. I look forward to hearing from you!