SBA Loan Guarantees – New Equity Injection Rule
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 A copy of the statements of account for the account from which the funds are being withdrawn for each of the two most recent months prior to disbursement showing that the funds were available; and
3. A subsequent statement of the borrower’s account showing that the funds were deposited or a copy of an escrow settlement statement showing the use of the cash.
Continue reading “SBA Loan Guarantees – New Equity Injection Rule”
Links to FedConnect and Federal Grants Sources
This is a little old, but still valuable…
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.
View Grants.gov here: http://www07.grants.gov/search/basic.do
View FedConnect here: https://www.fedconnect.net/FedConnect/PublicPages/PublicSearch/Public_Opportunities.aspx
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.
Apple Logo Is an Agnostic’s Crucifix, Star of David: Study | Fast Company
“Brands are a signal of self-worth,” said Gavan Fitzsimons, professor of marketing and psychology at Duke. “We’re signaling to others that we care about ourselves and that we feel good about ourselves and that we matter in this world. It’s more than ‘I’m hip or cool’…I’m a worthwhile person, and I matter, and you should respect me and think that I’m a good person, because I’ve got the D&G on my glasses.”
Start-up lessons learned the hard way – latimes.com
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.
Wayne Brady, Bobby Brown and MIKE TYSON – “Every Little Step You Take” | Funny or Die
Y Combinator, TechStars: Investor Mentorship and Leverage Outweigh Capital | Fast Company
“You’re starting to see a trend of investors having to work harder to convince founders that they should be able to invest in that company,” he explains. “There is very much early-stage capital available for startups–many are getting involved in angel investing, and lots of traditional VCs are too. Founders are now asking investors, What are you going to do? Why should I take your money over the other angels? On a day-to-day basis, why is having you in my company going to be a good thing? These are questions that people never asked before.”
The Most Detailed Forensic Analysis Of The Flash Crash To Date (And Likely Ever) | zero hedge
Technical, demanding and breathtaking. Understand the flash crash of May 6th where the market dropped 1000 points in a few minutes.
Is the market manipulated or just out of control? Either answer sucks. If you think about equities, just remember, you are the hunted.
Taste the rainbow!
The Seven Deadly Sins of Social Media | Fast Company
Posting on someone’s wall with a seven-line signature, mass-inviting people to every event (even if the event is local and the person is not even in the same country), to tagging people in articles that they are not even mentioned in just to get them to read it. There is a special vein in my forehead that you can clearly see when these things occur.
Small Business Dashboard | U.S. Department of Energy – Office of Economic Impact and Diversity
Transparency, Accuracy, and the Small Business Dashboard
With small businesses creating two out of every three net new jobs, holding more patents than the largest corporations and universities combined, and employing half of all working Americans, we can’t afford to ignore opportunities to improve and advance federal contracting opportunities to small businesses.
Today President Obama’s Interagency Task Force on Federal Contracting Opportunities for Small Businesses put forward thirteen recommendations to:
- Develop clearer and more comprehensive small business contracting policies;
- Provide for a better workforce and hold agencies accountable for meeting small business goals; and
- Leverage technology to enhance transparency, increase federal procurement accessibility for small businesses, and improve data quality.
Transparency, Accuracy, and the Small Business Dashboard
Read the Executive Summary here.
Small business contracting goals, started in 1978, help agencies map out the percentage of annual prime contract spending that should be awarded to small businesses every year. The thirteen recommendations that the Interagency Task Force put forward today will address the gap between the annual government-wide goal for contracting and the actual annual prime contract spending. While the Department of Energy received an “A” grade for FY 2009 achievement from the Small Business Administration, we are fully committed to improving government-wide small business contracting.
The brand-new Small Business Dashboard is a reflection of this commitment. On the Small Business Dashboard visitors can see government-wide goaling information, design their own data feeds from small business data, perform detailed searches on government contractors, view top types of contracts used and states by vendor locations, and learn more about the contracts at each Federal agency.
Visit the Small Business Dashboard here.
The Department of Energy’s Office of Small and Disadvantaged Business Utilization is looking forward to working with the Task Force as we implement the recommendations put forward today and evaluate progress. We hope resources like the Small Business Dashboard prove useful to your small business, and we welcome the opportunity to continue talking with you.
