On Thursday, when they spoke, the bank executive was sweetness and light—she told them that Ilsa and Brian qualified for HAMP, that they would get refinanced, that they would not have to pay the difference in mortgage of the last three months—“Your lower mortgage rate is locked in!”
And as to the $84 penalty fee, which had driven Brian in particular up the wall: It was waived.
Ilsa told me, “It was the nicest conversation we’ve ever had with a bank executive.”
The executive promised to have the papers drawn up, ready to be signed before November 1.
That’s right: November first. After dicking them around for months on end, Wells Fargo all of a sudden went from turtle-speed to light-speed—to warp-speed—boom!—just like that. They didn’t even engage thrusters, Captain—it was warp drive the instant Brian e-mailed that threat.
HR 5297 passed the Senate last week. It will rush through the house and likely be signed into law by President Obama as early as Friday of this week. This bill will have a huge impact on business. Here, courtesy of Jack Kykendahl and Tom Yuhas is a quick run down of the bill: Continue reading “Small Business Bill HR 5297 | An Overview”→
With the release of the SOP 50 10 5(C), which goes into effect on October 1, 2010, the SBA has revised the SOP to provide a specific list of documents required to be obtained by a Lender as adequate proof of equity injection. The requirements to document a cash equity injection are as follows:
1. A copy of a check or wire transfer along with evidence that the check or wire was processed showing the funds were moved into the borrower’s account or escrow;
2. A copy of the statements of account for the account from which the funds are being withdrawn for each of the two most recent months prior to disbursement showing that the funds were available; and
Important Application Information for New Small Business Funding
Earlier today, our office sent you an email regarding yesterday’s announcement for $30 million in funding from the Recovery Act and FY 2010 budget appropriations which will be made available to qualified small businesses to support the commercialization of promising new technologies.
Qualified small businesses can submit applications through Grants.gov to be considered for award. Use the Grants.gov “Basic Search” feature to search for the Xlerator program. Questions relating to the content of the FOA must be submitted through the FedConnect portal at www.fedconnect.net. While there is not a direct link to the SBIR Phase III FOA, applicants can search for it by typing “DE-FOA-0000397” in the search box under the reference number search.
Please note that only DOE Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) Phase I and Phase II grantees from FY 2005 to FY 2009 are eligible to apply to this U.S. Department of Energy Phase III Funding Opportunity Announcement (FOA).
For additional information please review the attached FOA for the DOE FY2010 Phase III Xlerator Program for Energy Efficiency and Renewable Energy, Electricity Delivery, Energy Reliability, Fossil Energy, and Nuclear Energy.
New entrepreneurs make many of the same mistakes, said Ethan Mollick, a professor who specializes in entrepreneurship at the University of Pennsylvania’s Wharton School. They fail to fully develop a business plan. They neglect important market research. They get into trouble by making poor hiring choices.
“You just did a very bad thing,” said Bill Gates, reacting to a presentation of Stan Slap’s suggestions. In this excerpt from his upcoming book, “Bury My Heart at Conference Room B,” consultant Stan Slap relates how Bill Gates, Steve Ballmer, and a room full of Microsoft execs loved and loathed the concept of leading with your values.
No math involved. Just cruzin on a boat. Y stands for yacht. And this yacht goes by the name “CUT.” It’s not only made for rippin up waves, it’s green.
Whether you’re a small business owner and want to demo a product, an artisan wanting to show off your skills, or even a consumer with a passion for sharing knowledge, before you pick up the camcorder, have a read of our top tips below.
Many business owners think that EVERYONE is their customer, so they create a coupon, find a monthly delivery system (a coupon magazine or coupon mailer) and hope for the best. But understanding your target customer can give you insights into how to price, how to promote, how to utilize media and what special offers will appeal to them.
Is Generation X the most likely group of people to purchase your goods and services?
How would you know? Start with your current customers. What is the average age of the majority of your customers? Who typically makes the largest purchase during an average visit. Who are return customers?
If you are not in business yet, look at the neighborhoods where you are thinking of locating your business. What is the average age and income of the people in the immediate one mile radius. Check out the three mile radius also. If you have a retail business, the majority of your customers will be local to those areas.
With the release of the SOP 50 10 5(C), which goes into effect on October 1, 2010, the SBA has revised the SOP to provide a specific list of documents required to be obtained by a Lender as adequate proof of equity injection. The requirements to document a cash equity injection are as follows:
“You just did a very bad thing,” said Bill Gates, reacting to a presentation of Stan Slap’s suggestions. In this excerpt from his upcoming book, “Bury My Heart at Conference Room B,” consultant Stan Slap relates how Bill Gates, Steve Ballmer, and a room full of Microsoft execs loved and loathed the concept of leading with your values.
Many business owners think that EVERYONE is their customer, so they create a coupon, find a monthly delivery system (a coupon magazine or coupon mailer) and hope for the best. But understanding your target customer can give you insights into how to price, how to promote, how to utilize media and what special offers will appeal to them.
Dispatches From The Front 