SBA's Free Online Tool Helps Small Businesses Develop an Export Business Plan

Small businesses interested in starting or expanding sales of their goods and services overseas now have access to a new, free online tool that will gauge their readiness to export and help them develop an export business plan.

The Export Business Planner, developed by the U.S. Small Business Administration, offers a ready-made, customizable and easily accessible document that can be updated and referenced continuously as the business grows.

The Planner, located at www.sba.gov/exportbusinessplanner, allows users to:
* Determine their export readiness;
* Learn about training and counseling opportunities;
* Complete worksheets for global market research;
* Obtain financing information and options;
* Customize export marketing plans, and;
* Access resources for exporters

"Creating jobs through exporting is one of the nation’s top economic priorities, as the President indicated when he launched the National Export Initiative," said SBA Administrator Karen G. Mills [pictured]. "Giving exporters the tools to do their part in this effort is essential. The new Export Business Planner is one such tool and will serve businesses in the critical process of planning for their success."

The Planner is a PDF file that can be easily downloaded, accessed, customized and updated every time you use it. It features an extensive compilation of export research and information -- including quick links to websites, video profiles, training podcasts, trade statistics, contact information to counseling resources such as SCORE and SBDCs, a list of current SBA lenders, plus much more.

The tool is organized in comprehensive chapters that are cross-linked and indexed for efficiency and easy access to related topics.

The chapters include:
* Introduction to Exporting
* Training and Counseling
* Getting Started: Creating an Export Business Plan
* Developing your Marketing plan
* Financing your Export Venture
* Accounting Worksheets: Costing, Financial Forecasting and Product Pricing
* Utilizing Technology for Successful Exporting
* Your New Marketing Plan: Summary, Timeline
* Updates, Transportation and Documentation

A distinct and very useful feature of the Planner is the customizable worksheets. These documents provide templates for developing your export business plan; conducting business assessments and foreign market research; creating your marketing plan; costing and sale projections; goal-setting; and much more.

Additional SBA Programs Available
For more information about all of the SBA’s programs for small businesses, call the SBA Answer Desk at 1-800 U ASK SBA; or, TDD 704-344-6640. Or, visit the SBA’s website at http://www.sba.gov.

SOURCES: U.S. Small Business Administration, The White House
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SBA Approves First Six Lenders to Start Making Community Advantage Loans to Small-Business Borrowers

The U.S. Small Business Administration has approved an initial group of six community-based, mission-focused lenders to start accepting and processing Community Advantage loan applications from small-business borrowers immediately, the agency announced today.

The new Community Advantage pilot program was announced by SBA in December, and is designed to expand access to lower-dollar loans and lending in traditionally underserved communities.

SBA and U.S. Department of Commerce studies have shown the importance of lower-dollar loans to small-business formation and growth in underserved communities. Even though SBA loans are three to five times more likely to go to women and minority-owned small businesses, underserved communities were hit disproportionately hard by the recession.

The pilot is specifically aimed at expanding points of access to capital for small-business owners by opening SBA’s 7[a] loan program to community-based, mission-focused financial institutions -- including Community Development Financial Institutions, SBA’s Certified Development Companies, and SBA’s nonprofit microlending intermediaries. Community Advantage leverages the experience these institutions already have in lending in economically challenged markets, along with their management and technical-assistance expertise to help make their borrowers successful.

"Working with these community-based, mission-focused lenders will greatly enhance our ability to bring much-needed financial backing to small businesses in underserved communities, which include minority-, women- and veteran-owned, as well as rural, businesses," said SBA Administrator Karen Mills [pictured]. "These businesses are among the hardest-hit by the recent economic downturn, and helping them to recover, expand and create jobs will strengthen both their local, and our nation’s, economy."

SBA began accepting applications from lenders on Feb. 15. The first Community Advantage approved lenders are:
* Central Texas CDC [CTCDC] dba BCL of Texas -- Austin, Tex.
* The Progress Fund -- Greensburg, Penn.
* Eastern Maine Development Corporation -- Bangor, Me.
* Idaho-Nevada Community Development Financial Institution -- Pocatello, Id.
* Kentucky Highlands Investment Corporation -- London, Ken.
* CDC Small Business Finance -- San Diego, Cal.

These lenders may begin making Community Advantage loans immediately. SBA will continue approving lenders on a rolling basis.

Expanding opportunities for entrepreneurs and small-business owners in underserved communities is core to SBA’s mission. As a result, all of SBA’s programs are having an impact in underserved communities.

In addition to the Community Advantage pilot program, in December, SBA announced the new Small Loan Advantage, which is open to the agency’s 630 existing Preferred Lenders.

Both Community Advantage and Small Loan Advantage offer a streamlined application process for SBA-guaranteed 7[a] loans up to $250,000. Advantage loans will come with the regular 7[a] government guarantee -- i.e., 85 percent for loans up to $150,000; and 75 percent for those loans greater than $150,000.

SOURCE: U.S. Small Business Administration
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SBA Renews Popular Patriot Express Loan Initiative for Three More Years

A very popular initiative that, in just three-and-a-half years has provided more than $560 million in loan guarantees to nearly 7,000 veterans to start or expand their small businesses, is being renewed for three more years, according to the U.S. Small Business Administration.

Patriot Express, a streamlined pilot loan product based on the agency’s SBA Express program, offers an enhanced guaranty and interest rate on loans to small businesses owned by veterans, reservists and their spouses. Over the past two years, due in part to the American Recovery and Reinvestment Act, loan volume increased dramatically.

"America’s veterans have the leadership skills and experience to become successful entrepreneurs and small-business owners," said SBA Administrator Karen Mills. "The impact of this program over the last three-and-a-half years has meant thousands of veterans and their families have had the resources to pursue their dreams as entrepreneurs and, at the same time, create jobs and drive economic growth at a critical time for our country.

"Renewing it means we can continue to fulfill our sacred commitment to the men and women who serve our country by giving them every opportunity for success."

Patriot Express was launched June 28, 2007, to expand upon the more than $1 billion in loans SBA guarantees annually for veteran-owned businesses across all its loan programs. SBA also offers counseling assistance and procurement support each year to more than 200,000 veterans, service-disabled veterans, reservists, and members of the National Guard and their spouses.

Patriot Express loans are offered by SBA’s network of participating lenders nationwide and feature one of SBA’s fastest turnaround times for loan approvals. Patriot Express loans are available for up to $500,000.

The Patriot Express loan can be used for most business purposes -- including start-up, expansion, equipment purchases, working capital, inventory or business-occupied real-estate purchases. Local SBA district offices can provide lists of Patriot Express lenders in their areas. Details on the initiative can be found at www.sba.gov/patriotexpress.

To learn more about additional opportunities for veterans available through the SBA, please visit the website at www.sba.gov/vets.

SOURCE: U.S. Small Business Administration
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5,000-Plus Small Business Jobs Act Loans Approved in First Month

This morning, Karen Mills [pictured], who heads the U.S. Small Business Administration, announced some of the impressive effects that the Small Business Jobs Act of 2010 has yielded thus far.

"Just one month after the President signed the Small Business Jobs Act, SBA has supported nearly $3 billion in loans to more than 5,000 small businesses across the country," Mills noted. "That’s more than 5,000 small-business owners who’ve felt firsthand, within one month, the impact this new law is having on our economy."

Two examples cited by Administrator Mills:

* Peabody Engineering, a tank and fiberglass manufacturer in Southern California, that is using a Jobs Act loan to hire 10 more workers; and

* Caudill Web Inc., based in Washington, D.C., who will use their Jobs Act loan to hire more programmers to meet increased demand.

"So, how did we do it?" Mills asked. "With the Recovery Act, we learned that raising the guarantee and waiving the fees in SBA’s top two loan programs was a formula for success. With the Recovery Act funding and extensions of funding from Congress, we turned just $680 million in taxpayer dollars into nearly $30 billion in lending support through our lending partners.

"That’s a big bang for the taxpayer buck. The Jobs Act builds on that success by extending those same loan enhancements.

"This is a critical investment in America’s biggest job creators and in the strongest engine of economic recovery: entrepreneurs and small-business owners. By unlocking loans for these small businesses, we are providing them with the tools they need to grow their business and create new jobs in their local communities.

"In all, we estimate the $505 million provided in the Jobs Act for these loan enhancements will support about $14 billion in small-business loans. That’s a $14 billion boost for America’s small businesses and just one of the reasons that the passage of this new law was a top priority for President Obama.

"The Jobs Act also includes $12 billion in tax credits targeted specifically to small businesses, and a $30 billion lending fund that will help small, community banks increase their lending to local small-business owners and entrepreneurs.

"As the President has said, government can’t guarantee the success of a small business, but it can knock down some of the barriers that stand in the way and help create the conditions where small businesses can grow and hire. The Small Business Jobs Act is a critical tool to help us do just that, and we are already seeing its impact with the loans SBA approves every day."

To learn more facts about how small businesses are benefiting from the Small Business Jobs Act, visit http://www.sba.gov/jobsact.

* * *

GoodBiz113's Take: Regardless of the relentlessly negative and downright deceitful rhetoric of those who want to see President Barack Obama and his Administration fail, statistics prove that his policies are gradually boosting small-business interests and getting people back to work.

To folks on both sides of the political aisle, and anywhere in-between, we advise: Be patient. Remember that President Obama has only been in the White House for 21 months -- and he had one helluva mess to clean up when he arrived there.

Signing the Small Business Jobs Act of 2010 was just one of countless positive steps that this Administration has taken thus far in order to get all of America moving forward again. If naysaying members of Congress would simply check their politics, egos and inertia at the door, and actually work with their do-something colleagues for the greater win-win-win good, then our nation can continue on the productive course that President Obama and his truly dedicated and apt Administration and Cabinet members have only just begun to chart.

SOURCES: U.S. Small Business Administration, The White House
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New First-Mortgage Loan Poolers Will Jump-Start Secondary Market for SBA 504 Loans, Make Credit More Available

Today, the U.S. Small Business Administration announced the first nine loan pool originators authorized by the agency to assemble and sell pools of 504 program first-mortgage loans -- a major step to jump-starting a secondary market that should make fixed-asset financing more widely available for small businesses.

The new program was approved under the American Recovery and Reinvestment Act.

Prior to the recent disruption in the credit market, a private secondary market for these loans existed, but has not revived as the economy has started to rebound. SBA expects this new program to breathe new life into that secondary market and improve access to credit for small businesses by providing a resource that can help boost liquidity to small-business lenders.

"With the resources provided in the Recovery Act, we have engineered a turnaround in its SBA lending, putting nearly $30 billion in the hands of small businesses across the country," said SBA Administrator Karen Mills [pictured]. "This added support now to relaunch the 504 first-mortgage secondary market builds on that success, and will help leverage even more capital for small businesses to support their growth and create new jobs."

Under the program, the SBA will provide a government guarantee on pools of portions of eligible 504 first-mortgage loans assembled by approved pool originators to be sold to third-party investors. Lenders will retain at least 15 percent of each individual loan, pool originators will assume five percent of the risk, and the SBA will guarantee the remaining 80 percent.

Typically, a 504 project includes three elements:

1] A loan [or first mortgage] secured with a senior lien from a private-sector lender, covering up to 50 percent of the project cost;

2] A second mortgage secured with a junior lien from a Certified Development Company [backed by a 100 percent SBA-guaranteed debenture], covering up to 40 percent of the cost; and

3] A contribution of at least 10 percent equity from the small-business borrower.

Under the new program, portions of the senior liens are pooled by pool originators and sold to investors in the secondary market. To be eligible to be included in a pool, the first mortgage must be associated with a 504 loan disbursed on or after Feb. 17, 2009. The program will be in place until Feb. 16, 2011 -- or until $3 billion in new pools are created, whichever occurs first.

The pool originators approved thus far are:

* Bank of America, N. A. of New York, N.Y.;

* Cantor Fitzgerald & Co. of New York, N.Y.;

* Citizens Bank of Elizabethton, Tenn.;

* Coastal Securities, Inc. of Houston, Tex.;

* Community South Bank of Knoxville, Tenn.;

* Fidelity Bank of Covington, Ga.;

* Meadows Bank of Las Vegas, Nev.;

* Morgan Stanley Bank, N.A. of Salt Lake City, Utah; and

* Voyager Bank of Eden Prairie, Minn.

For additional information on the pool originators, visit: http://bit.ly/SecondaryMarket.

The list will be updated regularly as new originators are approved.

For more information about all of the SBA’s programs for small businesses, visit the SBA’s website at http://www.sba.gov/.

SOURCE: U.S. Small Business Administration
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Administrator Mills: SBA Re-Activating Recovery Loan Queue by Monday, Feb. 22

SBA issued the following statement today from Administrator Karen Mills [pictured] regarding efforts to ensure continued funding for two key provisions in the American Reinvestment and Recovery Act [ARRA] of 2009:

"SBA’s most popular ARRA provisions -- the increased guarantee and reduced fees in the two largest lending programs -- have helped engineer a significant turnaround in SBA lending. Continuing those ARRA provisions is SBA’s top priority.

"Through the original $375 million and the additional $125 million appropriations for these two provisions, SBA has supported more than $20 billion in lending to small businesses across the country and seen its average weekly loan volume increase by nearly 90 percent since February 2009.

"Through ARRA, we brought nearly 1,100 lending institutions back to the SBA’sprograms that had not made an SBA loan since at least 2007. All told, these steps have benefited tens of thousands of small businesses and supported hundreds of thousands of jobs during these tough economic times. However,we know there is still more work to be done. As the President has requested, we will continue to work with Congress to extend these programs through September 2010.

"The additional $125 million appropriation approved in December to extend SBA’s 7[a] loan guarantee to 90 percent, and reduce or eliminate borrower fees on both the 7[a] and 504 loans, will be used faster than expected.

"Loan volume has surged since earlier this week, when an Information Notice was released to lenders. SBA communicated with its lending partners today that it will re-activate the Recovery Loan Queue no later than Monday, Feb. 22. The Queue is an efficient and transparent process that will ensure that every remaining dollar possible is made available to help small businesses drive economic recovery across the country.

"The SBA advocates for small businesses across the federal government, and will continue its efforts to keep America’s small businesses on a path to recovery and long-term success. Small businesses are a central piece of President Obama’s Jobs Plan because they have been, and will continue to be, a key engine for job creation across the country.

"With that in mind, President Obama laid out an aggressive agenda for providing small businesses with the support they need to create jobs and drive economic recovery. That agenda includes proposals in three key areas: expanding access to capital; providing tax incentives to encourage job creation; and maximizing the potential of innovative, high-growth companies."

SBA’s ARRA Programs
SBA received $730 million in ARRA to support economic recovery programs for small businesses. Included in the appropriation was $375 million to support raising the government guarantee to 90 percent on SBA’s 7[a] loans, and reducing some lender and borrower fees on its 7[a] and 504 loans -- the agency’s two largest lending programs.

The funds for these popular provisions ran out in November 2009. SBA received an additional $125 million appropriation in December 2009, along with authority to continue both of the programs through February.

SBA’s 7[a] and 504 ARRA Transition Plan
SBA is in the process of finalizing the plan for transitioning its 7[a] and 504 programs back to their pre-ARRA terms and communicating those plans with its lending partners. This plan, when implemented, will include re-activating the Recovery Loan Queues no later than Monday, Feb. 22, 2010. The Queues will operate in the same manner as when originally implemented in November 2009.

Sometimes, previously approved loans are later cancelled or never disbursed for a variety of reasons. The Queues take this into account and, beginning on the transition date, will allow eligible small businesses -- in consultation with their lenders -- to choose to be placed in the Queue for possible approval of an ARRA loan if funding becomes available.

Small-business owners and lenders will have transparent access to the Queue via http://www.sba.gov/recoveryq/index.html, and will be able to remove themselves from the Queue at any time to be considered for a non-ARRA SBA loan with all applicable fees and, for 7[a] loans, standard guaranty levels.

Authorization for the 90 percent guarantee on 7[a] loans ends Feb. 28, 2010, though funds may be exhausted sooner. Furthermore, applications in the Queues after Feb. 28, 2010, will only be eligible for decreased or eliminated borrower fees when funds become available.

To learn more about SBA’s ARRA programs and other resources for small businesses, please visit http://www.sba.gov/.

SOURCES: Recovery.gov, U.S. Small Business Administration, The White House
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Recovery Act Funding to Expand Microlending to Small Businesses Across the U.S.

With the American Recovery and Reinvestment Act funding an additional $50 million for loans, plus $24 million for technical assistance, the U.S. Small Business Administration [SBA] is expanding its Microloan program and increasing access to capital for small businesses across the country.

The program is shifting to funding provided under the Recovery Act, now that it has exhausted the regular FY 2009 appropriations for $20 million in loans and $20 million in technical assistance. With the additional resources, SBA is focused on adding new lenders and encouraging entrepreneurs to seek out SBA-backed microlenders to finance their businesses.

"SBA’s Microloan program provides a critical source of capital for entrepreneurs -- including women, low-income individuals and minorities, who often have difficulty obtaining capital to start and grow their businesses," said SBA Administrator Karen G. Mills. "With these resources, we can put more entrepreneurs and small-business owners in a position to succeed and create jobs that will, in turn, help drive our nation’s economic recovery."

Since the Recovery Act, SBA has approved eight new applications from lenders to join the Microloan program, and has 15 new loans to microlenders for $10.7 million in Recovery Act funds ready to be disbursed. Of those 15 loans, eight are for new microlenders.

The approved new microlenders are: Vermont Community Loan Fund Inc., of Montpelier, Vt; Neighborhood Development Center, of St. Paul, Minn.; Cen-Tex Certified Development Corp., of Austin, Texas; The Emperor Organization, of Tallahassee, Fla.; Staunton Creative Community Fund Inc., of Staunton, Va.; Lane MicroBusiness [d.b.a. eDev], of Eugene, Ore.; FINANTA [formerly known as American Street Financial Services], of Philadelphia, Pa; and ACCION USA Inc., of New York, N.Y.

SBA’s Microloan program supports microlenders by providing them with up to $3.5 million in low-cost loans from SBA to finance their lending to small businesses. SBA’s interest rate to microlenders is based on the five-year Treasury rate, with adjustments tied to a microlender’s average loan size.

Microlenders use the SBA funding to provide loans of up to $35,000 to entrepreneurs. Loans can be used for working capital and acquisition of materials, supplies, furniture, fixtures and equipment.

SBA also provides grant funding to microlenders, to finance technical assistance and counseling programs for their borrowers -- including staff, classroom training, and occupancy costs. SBA’s reimbursement is capped at 25 percent of the microlender’s outstanding SBA loan portfolio.

Organizations interested in becoming SBA microlenders must meet specific criteria -- in terms of organizational status, microlending experience, and matching requirements from non-federal sources. For more information, please visit: http://www.sba.gov/services/financialassistance/sbapartners/microloan; e-mail microloans@sba.gov; or, call 202-205-6485.

Entrepreneurs who wish to learn about SBA's Microloan program can visit: http://www.sba.gov/services/financialassistance/sbaloantopics/microloans/index.html.
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Joined by Sen. Dorgan, Franken Proposes New Lifeline for Minnesota Small Businesses

Joined by Sen. Byron Dorgan [D - N.D.] and two local small-business owners, DFL U.S. Senate candidate Al Franken [D-Minn.] today offered a new proposal to unfreeze credit for Minnesota small businesses. His initiative is part of an economic recovery plan designed to create jobs and help Minnesota families in these tough economic times.

Franken unveiled the plan today at a news conference, joined by Dorgan and two local entrepreneurs:

* Mallard Teal is the owner of Payne Ave. Body Shop. A small-business loan enabled him to renovate his storefront and expand his business.

* Mary Leonard is the owner of Chocolat Celeste. She applies for a seasonal loan each year to expand production and hire additional employees for the busy Christmas season -- but this year, has been unable to acquire that capital.

"George Bush and Norm Coleman just don't get it: giveaways to the special interests and tax cuts for millionaire CEOs don't create jobs," Franken declared. "Small businesses create jobs. And, while Washington rushed to bail out huge corporations on Wall Street, we're going to lose jobs here in Minnesota if we don't do something to unfreeze credit for our small businesses. My proposal will ensure that folks like Mallard and Mary can continue to grow their operations and get our economy moving again."

Dorgan wholeheartedly agreed. "Al and I both opposed the bailout because it didn't protect taxpayers by adding in provisions to make sure this type of meltdown would not happen again," he said. "Al Franken is now proposing smart ideas to get this economy moving. We need him in the Senate to help fight for the middle class and stand up to the special interests."

Franken's proposal generates $4 billion for direct loans to small businesses through the Small Business Administration [SBA], and adds another $1 billion to the SBA's loan guaranty programs. It also simplifies the process of obtaining these loans; eliminates associated fees; and expands the network of lenders to increase liquidity and secure better loan rates for small businesses.

The initial $5 billion investment will be repaid by small businesses, resulting in no net cost to taxpayers over time. But Franken called for the $5 billion upfront cost to be paid for, in the short term, by taking it out of the $700 billion earmarked for the bailout package, or by eliminating unwarranted and excess stock-option deductions on executive compensation.

SOURCE: Al Franken for U.S. Senate
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