“The SBA-504 refinance program came at the right time,” said Walt Carbonell of US Technical Ceramics. Walt is one of many SBA loan borrowers that are taking advantage of the SBA’s limited time offer for refinance on their commercial property.  “We were facing a significant balloon payment with our old loan. The refi offered a fixed rate over 20 years. It gives us more financial flexibility and allows us to allocate more dollars to initiative that will help the company grow and create new jobs.”

This special program will end September 27, 2012 so it is recommended that the application process start no later than July 2012 to ensure ample time for processing. For more information and eligibility, call us at 800.611.5170. More information can be found on our website or at the SBA’s website here

The Gilroy Dispatch has the full story of Walt Carbonell’s Refinance success.

We would like to congratulate Wahoo International for their recent win as 2012 SBA Small Business Exporter of the Year!

“Gary Fisher’s Wahoo International is the perfect example of a small business that has been able to create revolutionary products and create worldwide use and demand. Wahoo’s product Solarez is the leader in resin repairs and can literally be found all over the world. It’s the name that comes to mind every time you think of surfboard repair just as Kleenex is to tissues. Another one of Wahoo’s revolutionary products, Lifesled has set the standard for waterborne rescue extraction and is used by fire, county, state, national and military rescue agencies worldwide.

This small San Diego business has been able to create a global network of over 30 distributers to export to represented by nearly every continent on the globe. Adding to Wahoo’s global rach is the expansive list of 300 plus vendors located everywhere from Japan, New Zealand, Indonesia, Cyprus, Chile, Dubai and Germany just to name a few.”

For the full story read the article in the Union Tribune here. For more information on Wahoo International visit their website here.

A big thank you to Aaron Dmitrenko – Marketing Assistant at CDC Small Business Finance for contributing to this week’s post.

Entrepreneurs looking to finance their startup businesses often run into hurdles with traditional bank financing. This is usually due to the startup not having much of an operating track record in their industry or an established business credit history.

But, entrepreneurs looking into starting a business do have alternative options for financing. An SBA Microloan is one of those options. This loan maxes out at $50,000 but averages at around $13,000. Used specifically for working capital, purchasing supplies, furniture or machinery equipment the SBA Microloan is a great option for a startup business. The exciting news is the SBA has reported that the SBA Microloan Program is currently their  fastest growing loan category as reported in the latest San Diego Business Journal.

Banks will team up with our loan experts to give their qualified customers the financing help they need. To learn more about the Microloan program click here to visit the SBA’s site.