#SBA Recovery Lending Extended Through May 2010

Alan Pruitt — Mon, 19 Apr 2010 18:18:47 +0000

I encourage small business owners to contact your local Small Business Developmenmt Center (SBDC) to learn more about these SBA programs. One thing to keep in mind – it is not ”free money” and your primary lender still needs to be on-board. The SBA is not a “direct lender” (yet), but this $80 million will filter down to Main Street at some point. At least in Arizona, Wells Fargo Bank continues to be the number 1 lender ($42.5M) for SBA lending; followed by JP Morgan Chase Bank ($10.5M) as of FY2010 2Q ending March 31, 2010.

A small business owner still requires a solid business plan (or a “recovery plan”) to submit to the lenders and an above-average credit score (700+?) to be eligible for these programs. These are not programs for start-ups or small businesses with no financial track record. Some lenders now require 3 or more years of business financials and personal finacial disclosure information.

Our nation’s economy is being driven in large part by small businesses and entrepreneurs, and SBA loans will continue to be the critical financial resourse they need in the midst of the economic downturn.

WASHINGTON – President Barack Obama signed legislation yesterday (April 15, 2010) providing $80 million in additional funding to continue important enhancements in the U.S. Small Business Administration’s two key small business loan programs. The enhancements, first made available under the American Recovery and Reinvestment Act, include a higher guarantee on some SBA-backed loans and small business fee relief.

Read SBA Press Release…

@alanpruitt Business Analyst @AWCSBDC

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Why Work Independently?

Alan Pruitt — Fri, 09 Apr 2010 00:27:09 +0000

I choose to work independently with MBOPartners.com for the simple reason that I have control of the terms and conditions of my employment. If I choose to continue a project that I am really excited about — then I continue to contribute to that project with the same vigor of a salaried or hourly employee and reap the benefits of being rewarded financially for my contribution to the project. If I think that my contribution to a project is complete or I don’t have the same degree of enthusiasm when I started the project — then I move on to projects and opportunities that interest me.

Currently, I have the highest number of active projects at MBO Partners — and I have no problem delivering high-quality deliverables to multiple clients and STILL maintain a lifestyle and employment environment that is meaningful to me and my immediate family. Staying gainfully employed AND having 100% control over my career path is a huge “force multiplier” for me.

Contact me about being an independent worker and working with MBOPartners at anytime. My third anniversary with MBOPartners is in May and I am looking forward to many more years with MBO.

@alanpruitt

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#SBA Recovery Lending Extended Through May 2010

Why Work Independently?