Linked in Can help you grow your business

Linked in Can help you grow your business

As I continue to grow my business with LinkedIn, I find articles that may help others. This is an informative article on using LinkedIn.

Though lending for small businesses is still tight, Obama extends SBA programs

Though I’ve seen very little in lending for small business loosening. Obama has extended the SBA additional funding. Now is a great time to call PFC to discuss your options if you need any type of small business lending. Phone: 813-835-1253. Pamela Hewett
SBA NEWS RELEASE
Press Office

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SBA Recovery Lending Extended Through May

Administrator Mills presses for longer-term extension for successful programs

Release Date: April 16, 2010
Contact: Hayley Matz (202) 205-6948
Release Number: 10-15
Internet Address: http://www.sba.gov/news

WASHINGTON – President Barack Obama signed legislation yesterday 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.

The SBA estimates the $80 million will support about $2.8 billion in small
business lending under the 7(a) and 504 programs.

“Small businesses across the country have been able to secure critical
financing as a result of the Recovery Act loan provisions and the continued
interim funding we’ve received for the program,” said SBA Administrator Karen
Mills. “The increased guarantees and reduced fees on SBA loans have
generated more than $25 billion in new loans to small business owners and
brought more than 1,200 lenders back to SBA loan programs. In fact, the first
two quarters of the current fiscal year have been our best two opening
quarters ever for the 7(a) program, with more than $7 billion in guaranteed
loans. These programs have been successful in helping jump-start our
economy, which is why we will continue to work with Congress on a longer
term extension of the increased guarantee and reduced fees.

“We also know that small businesses could greatly benefit from the additional
tools the President has proposed, including higher SBA loan limits and
refinancing for commercial property mortgages, which could help thousands of
small businesses avoid potential foreclosure. Small businesses need these
improvements to ensure their access to the capital they need to drive
economic growth and create jobs in communities all across the country.”

As part of the Recovery Act enacted on Feb. 17, 2009, SBA received $730
million to help small businesses, including $375 million to increase the SBA
guarantee on 7(a) loans to 90 percent and to reduce borrower fees on most 7
(a) and 504 loans. The funds for these programs were exhausted on Nov. 23,
2009, and an additional $125 million was provided in December. Those funds
were exhausted in late February, 2010, and an additional $60 million was
provided subsequently. SBA was authorized for an additional $40 million in late
March.

Under the new extension SBA may continue to reduce loan fees in its 7(a) and
504 programs and to provide higher guarantee levels on 7(a) loans through
May 2010, or until the funds provided under the bill are exhausted.

This extension has no effect on the continued availability of financing under
other SBA Recovery Act programs, including SBA’s America’s Recovery Capital
(ARC) loan program and the agency’s Microloan program. Recovery Act funding
still remains available for both of those programs.

Oil Spills Kill

PFC Partners with MedChoice Financial

MedChoice Financial offers PFC the ability to offer patient financing as well as additional capital and sources for business loans. We can secure SBA, start up, difficult credit loans. Working capital, Equipment leasing/loans. For information call Pamela Hewett at 407-619-5053

JOFFREY INSTITUTE
$480,000
Medical Practice Start Up
10 year Financing
Schaumburg, Illinois
Submitted by Professional Finance Consulting to CIT

What’s Going On in Small Business Right Now?
Small Businesses Expect Growth
New CIT study finds cautious optimism among business owners

After a turbulent year, U.S. small business owners have a cautiously optimistic outlook for 2010, according to a new study by CIT and Forbes Insights: U.S. Small Business Outlook 2010: Lessons Learned – A Case for Greater Optimism.

What’s Going On in Small Business Right Now?
Small Businesses Expect Growth
New CIT study finds cautious optimism among business owners

After a turbulent year, U.S. small business owners have a cautiously optimistic outlook for 2010, according to a new study by CIT and Forbes Insights: U.S. Small Business Outlook 2010: Lessons Learned – A Case for Greater Optimism.

Based on the responses of owners and executives at 220 U.S. small businesses with annual revenues between $1 million and $15 million, the report examines how small business owners are responding to current economic challenges and opportunities. It is the last in a series of four middle market and small business studies produced over the past year by Forbes Insights in association with CIT.
“Our study found that a surprisingly high percentage of small business owners are more optimistic about 2010 after having survived the worst of the recession,” said Chris Reilly, President of CIT Small Business Lending. “Many believe that the survival strategies they’ve implemented and hard lessons they’ve learned have better positioned them for growth this year.”
Among the key findings in the study:
• More than 70 percent of small business owners said that they are working harder to run their businesses than ever before. In addition, 81 percent said they are now smarter about running their companies – and a majority believe that the challenges of the recession have made them better leaders.
• While cautious about the general economy, most small business owners expect their businesses to grow in 2010.
• Economic stimulus plans enacted by Washington have not provided any benefits to small businesses, said most respondents, but small business owners remain hopeful that the federal government will take action to help them, particularly in the area of financing.
• A majority of small business leaders (64 percent) intend to be more aggressive in 2010 by implementing a range of actions to advance their businesses.
CIT has served the middle and small business markets for more than a century. Our long-term relationships with clients are built on a deep understanding of the industries in which we operate and deliver high-value solutions and services. We conducted this series of surveys to further our understanding of these industries and our clients. Designed to reinforce our thought leadership and market expertise, and to highlight the intellectual capital of our leaders, these in-depth studies examined the middle and small business markets during one of the most financially challenging times in history.

RESOURCE http://www.cit.com/about-cit/us-small-and-middle-market-outlook/us-small-business-outlook-2010/index.htm
For more information:
Mike Seeley
Regional Account Manager
O: 407.772.4556
M: 407.461.1770
Mike.Seeley@CIT.com

Did you know that…
• According to our
study, 44% of small business owners have a growth
strategy in place once recovery from
the economic downturn begins.

Click here for
Money Rates

The Villages explodes with new medical practices. PFC clients Life Family Medical is one of those premier offices.

Medical industry surging in The Villages
By DAVID R. CORDER, DAILY SUN
THE VILLAGES — During the past year, The Villages medical community experienced a surge in growth that shows no sign of abating.

No fewer than two dozen health care practices of all kinds either expanded or opened new offices to serve the community’s still-growing population.
This is an exciting time for The Villages health care industry and its patients, said Nelson Kraucak, M.D., who has seen the dramatic evolution of the local medical community since opening his family medicine practice about 15 years ago.

“It is very exciting,” said Kraucak, managing physician of Life Family Practice Center and an affiliate of the community’s Villa Medical Group. “This is an oasis. What’s happening here is not happening anywhere else I know of.”

Patriot Loans Available through SBA for former veterans and spouses

If you are a veteran or spouse of a veteran that needs help starting a business, growing a business, or counseling the SBA has programs just for you. We support our military and hope this information will help.
If you try to secure a Patriot loan through your local bank and aren’t having much luck call or go to your local SBA office. For more information you can go to www.pfcfinance.wordpress.com and post a comment or question we will respond.

The U.S. Small Business Administration has announced the SBA’s Patriot Express Pilot Loan Initiative for veterans and members of the military community wanting to establish or expand small businesses.

Monitor Daily reports on the Current Fed Rate – Still Unchanged

Fed Holds Rates, Retains ‘Extended Period’ Timeframe

The Federal Reserve left short-term interest rates untouched following the Federal Open Market Committee’s (FOMC) second meeting of 2010.

The FOMC left the fed funds rate at 0% to 0.25%, where it has been since December 2008. As it has said since March 2009, the committee repeated that the rate would probably remain “exceptionally low” for “an extended period.”

Great video on insurance from Funny or Die click on and go to site

http://FunnyOrDie.com/m/3052

Bank of America – New overdraft rules Buyer Beware Read all the print

Bank of America, Banking on Overdrafts?
Anastasia Crosson
March 12, 2010
File under Tags: Bank of America, overdraft fee, overdraft rules, the Federal Reserve
Bank of America is going ahead with a new overdraft policy, announced Wednesday, intended to protect customers by avoiding account overdrafts. This action comes in advance of the Federal Reserve’s July 1 deadline for banks to comply with new opt-in overdraft regulation. Overdraft fees are a more than $100 million dollar business for banks, so a large decline in profits is imminent. This begs the question, what are these institutions banking on to keep their revenues a float? For Bank of America, overdraft protection plans may be the new revenue earner. For consumers, they may not yet be as protected as hoped for.