SBA 504 Lending and Small Business News: May 4, 2016

May 4, 2016

Sioux City, IA was honored by the SBA with a Community of the Year award for the city’s efforts to support small business. The city’s leveraging of federal, state and local government, higher education and community resources helps “create an ideal small business culture,” reported the Sioux City Journal. Economic development specialist Renae Billings said that the award was recognition of Sioux City’s efforts “to make a positive environment for small businesses and entrepreneurs.”

The SBA is “strutting.” According to SBA Administrator Maria Contreras-Sweet, the SBA is much like John Travolta in Saturday Night Fever. In a speech during the National Small Business awards ceremony in Washington DC, the SBA chief said the agency “has really been strutting” over the last couple of years. “We are at historic levels of putting access to capital out the doors, record levels of contracting, record levels of investment, and renewed and refined and more efficient programs around our disaster recovery,” said Contreras-Sweet.

On Federal News Radio’s website, Helen Russell, co-founder and CEO of Equator Coffees & Teas, supported the SBA 504 program. “Only in this country can you start in a garage and fast forward have over 350 wholesale customers, have 90 employees, have four retail stores, own a farm in Panama, win the Good Food Awards,” Russell said. “We are the first LGBT-certified business in the United States to be recognized as the small business of the year. We’re really, really proud of that.”

Liberty SBF has lowered its rates and increased referral premiums for its National First Lien SBA 504 Wholesale Program. Click here to download a PDF of Liberty SBF’s National First Lien SBA 504 Wholesale Program rates and referral premium sheet. Liberty SBF will partner with approved banks, non-bank lenders and other SBA loan intermediaries to originate 504 loans across the country and can pay up to 4 points of premium to its partners. Liberty SBF also services the loans in its portfolio and will introduce a third party loan servicing platform to banks and credit unions later this year. “Liberty SBF expects to originate over $200MM in 504 loans in the next 12 months on asset types that range from industrial and self-storage facilities to hotels among others,” said Alex Cohen CEO of Liberty SBF. “By increasing our already substantial nationwide network we will help serve more small businesses seeking commercial property financing.”

8+1 (That’s 9) Things You Need To Know

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  3. How business owners can avoid micromanaging
  4. Why the SBA is an incredible tool for acquisition financing
  5. Curbside cafes come to Baltimore to boost local business
  6. SBA tours CT city during Small Business Week
  7. SBA chief urges respect, support for small businesses
  8. Regional Development Company is in business of make dreams come true
  9. Business users trial new Facebook Live streaming video