News You Can Use: SBA Small Loan Guaranty Fee Relief Saves Borrowers Money, Success with Online Reviews, Upcoming Events, and more...

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SBA Santa Ana District Office

SBA Small Loan Guaranty Fee Relief Yields Savings to Borrowers

Small business borrowers who receive SBA 7(a) guaranteed loans of $150,000 or less during Fiscal Year 2014 (October 1, 2013 - September 30, 2014) have saved more than $6.3M nationwide in fees that were eliminated on the agency's smallest loans, including approximately $142,000 in savings to 179 borrowers in the Santa Ana District.

The initiative is part of the agency's broader initiative to make it more cost effective to originate smaller loans.  In addition to the fees that borrowers typically pay based on the amount guaranteed by the government, the ongoing monthly fee paid by SBA lenders will be eliminated for the entire life of 7(a) loans of $150,000 or less made while the initiative is in effect.

The fees collected on larger loans are expected to offset any losses sustained from the smaller ones, according to remarks made by the agency's former acting Administrator, Jeanne Hulit, in an interview earlier this year, who noted it was important to implement the waiver "in a budget-neutral way."

Upcoming Events

Export Trade Assistance Partnership Seminar #1.  Wednesday, March 5, 2014 from 8:30 a.m. to 4:00 p.m. in Riverside.

Inexpensive Marketing.  Presented by Linda Hollander, Wealthy Bag Lady.  Tuesday, March 11 from 9am to Noon in Mission Viejo.

Veterans and Entrepreneurship.  Thursday, March 12, 2014 from 9 to 11am in Cypress.

In Case You Missed It - Success with Online Reviews

SBA and Yelp have partnered to provide America's small businesses with the information they need to successfully engage with online reviewers and tips for monitoring their online reputation.  A recent webinar conducted highlighted some take aways worth sharing:

  • 95% of consumers use the internet to find a local business
  • 85% of consumers say they read online reviews for local businesses
  • 82% of Yelp visitors typically visit because they intend to buy a product or service and are trying to inform their decision
  • 79% of Yelp reviews are 3-stars or higher - shattering the myth that reviewers are more likely to share negative experiences

There's tons of other great information in the webinar, which was recorded and can be viewed here in case you missed it.  Coming up in April SBA and Yelp will present a panel discussion with small business owners in Orange County, "Success with Online Reviews."

Opportunities in Federal Contracting for Small Businesses

Here are some opportunities you may have missed that were listed on the Federal Business Opportunities website,  

Architect/Engineer Services for Preparation of Navy & Marine Corps Environmental Planning Documents for In-Water & Coastal Projects.  Presolicitation.  Response date: March 25, 2014.

Sources Sought - Repair Services for a Government Owned EMD Emergency Generator.  Long Beach VA Medical Center.  Response date: March 4, 2014.

Project Leader/Technical Writer for Stream Restoration Implementation Guidebook.  Response date: March 24, 2014.

Hundreds of opportunities are posted each day.  To learn more about doing business with the government, you can visit the SBA's Government Contracting Classroom, attend local government contracting workshops, or make an appointment with an SBA resource partner for free one-on-one counseling.