Archive for September, 2009

CIT Nears a Restructuring Plan

The CIT Group, who nearly went under earlier this year due to the inability to finance its operations through short-term debt markets, is in talks with its creditors over a restructuring plan that would significantly reduce its debt.Â
According to people briefed on ongoing talks regarding CIT’s future, CIT would cut its debt by 30% through exchange offers [...]

Quote of the Week

“Our growth depends not on how many experiences we devour, but on how many we digest.”
~Ralph W. Sockman

Quote of the Week

“Speaking and writing without thinking is like shooting without aiming”
~Arnold Glasow

SBA to Ease Limits on Loans for Buyouts

The SBA, after enduring a backlash from lenders and business appraisers, plans to modify a restriction it had placed on loans used to finance acquisitions of small companies.  This modification is set too transpire on October 1st.Â
For more information regarding the SBA’s plans to raise the cap on its guarantee of  “goodwill” financing.

Quote of the Week

“The man who is prepared has his battle half fought.”
~Miguel de Cervantes

Reminding Customers to take Advantage of the Fee-Free SBA Loans

Check out our recent email to our broker database, highlighting the benefits of the American Recovery and Reinvestment Act.Â
Mention the email to your Ocean Capital Commercial Loan Officer and he can send you the email to forward onto your clients to showcase the Act’s highlights, including waived loan gaurantee fees and increased loan gaurantee percentage.

Time is running out on an opportunity to access fee-free SBA loans guaranteed up to 90%

Small business owners have less than 3 months to take advantage of the American Recovery and Reinvestment Act (ARRA).  The ARRA, which called for the SBA to set aside $375 million to temporarily eliminate loan fees and increase the agency’s loan gaurantee to 90% for certain loans, is set to cease these benefits by the end [...]

Quote of the Week

“Great minds discuss ideas; average minds discuss events; small minds discuss people.”
~Hugh C. Cameron