The Loan Committee™

A distinguished panel of five SBA and banking representatives discussed “Hot Topics and Trends in SBA Financing” at the October 8th Loan Committee luncheon held at the Tower Club.  Mitch Fogel with Fogel Law Group moderated the discussion and Adam Von Romer with KoRes Corp. was the MC.

Points of interest included:

• Why SBA Financing is Good for Your Clients…and YOU!
• Working with the SBA (or How to Properly Use SBA Financing for Your Deals)
• Underwriting and Eligibility Topics for SBA 7(a) and 504 Loans
• Documenting SBA 7(a) and 504 Loans…pre-Approval and Loan Closing
• How to work with the CDC in SBA 504 Loans…Before, During and After the Closing
• The Closing: Where the Rubber meets the Road
• What’s on the Horizon?

Last week, the U.S. Small Business Administration shut down its 7(a) loan program again, leaving thousands of small business owners scrambling to finance a wide range of business projects. This shutdown was swiftly overturned, as Congress approved an increase in the 7(a) program cap to $23.5 billion for the remainder of this current fiscal year. That’s $4.75 billion more than the current ceiling that had effectively been hit, necessitating the shutdown. President Obama quickly signed the bill into law. Crisis averted. Or is it?  read more… Source: Fountainhead Commercial Capital.

After a grueling two-year application process, Miami Beach’s Hotel Astor has been granted EB-5 status by the U.S. Citizenship and Immigration Services office. That means the 18 investors from Brazil, China, and Venezuela who are funding $9 million of the hotel’s renovation will be getting visas that pave the way for their permanent U.S. residency. The investors put in $500,000 each. read more… Source:  The Real Deal.

FORMER BANK SPACE FOR LEASE
2800 East Oakland Park Boulevard
Fort Lauderdale, Florida 33306
Click here for flyer!

PROPERTY FEATURES:
~ 3,132 SF Former Branch Bank Location
~ 2-Lane Drive Thru with ATM
~ 3,121 SF 2nd Floor Bank Office Space Also Available For Lease
~ Immediate Occupancy
~ East Fort Lauderdale Corridor – .5 Mile East of N Federal Highway (US-1)
~ Close Proximity to Shopping, Restaurants and Fort Lauderdale Beach
~ Located at the SEC of E Oakland Park Boulevard and Bayview Drive

CONTACT:
The Rotella Group, Inc.
Rick Edlund or Buzz Smith
3300 N. Federal Highway
Fort Lauderdale, Florida 33306
P: 954-568-9015 F: 954-568-9597
rick@rotellagroup.com or buzz@rotellagroup.com
www.rotellagroup.com

The 2013 ABA Annual Convention, October 20-22, 2013 in New Orleans at the Hyatt Regency, will gather bankers from around the country to explore the forces challenging and reshaping financial services — and how you can respond to ensure a strong future for banks and industry. The program will deliver inspiration from industry experts, ideas from banker peers, and solutions to enable banks to compete effectively.

photo credit: Prayitno/ more than 1.5 millions views: thank you! via photopin cc