Small Business Breakthrough Pilot Lets Banks Approve SBA Loans
U S Representative Earl Hutto reports a new pilot program expanding bank authority in SBA backed lending. The Preferred Lender Program allows banks to approve guaranteed loans up to $100,000, shortening the process from months to immediate qualification in many cases, with banks handling paperwork and final decisions. Banks involved include National Bank of Newark Chase Manhattan Chemical and Citibank in New York City Peconic Bank Milleville and National Community Bank.
MENTIONED IN THIS ARTICLE
U.S
Earl Hutto
SBA
National Bank of Newark
Chase Manhattan, Chemical and Citibank
New York City
Peconic Bank
Milleville, NY
National Community Bank
PLP program shifts loan control to banks in Rutherford NJ
Commentary notes the PLP loan plan limits SBA backing to 75 percent of totals and 500000 max, with 90 percent guarantees under 100000 loans. Banks would approve, disburse, service, and liquidate defaults, raising risk but aiming to cut default rates from current 40 percent. Nationwide rollout planned but cautious testing underway.
MENTIONED IN THIS ARTICLE
Rutherford
SBA
PLP
Village Gallery 18th Annual Show Debuts In Destin
Destin's Village Art Gallery marks its 13th anniversary with 31 artists from Louisiana to California. The exhibit features Joe Durrett pen and ink, Dan Dunn watercolors, Sherma Metz wildlife studies, Marcia Oliver serigraphs from the Destin Bridge, Margo Russell floral works, Ben Shute watercolor scenes, Konstanty drawing and paper pieces, and Emil Holzhauer marine paintings The event runs June 19 from 2 to 5 PM at Melvin Street gallery.
MENTIONED IN THIS ARTICLE
Ingrid Kreis
Village Art Gallery
Destin
Lorna
Tom Williams
United States
Joe Durrett
Dan Dunn
Dunn
Sherma Metz
Pensacola
Marcia Oliver
Destin Bridge
Williams
Oliver
Islands
California
Margo Russell
Ben Shute
Konstanty
Village
Picasso
Miro
Emil Holzhauer
Melvin Street
Also Mentioned on This Page
Johnny McGuffie
Tommy Vickers
Greg Marler
Virgil Snellgrose
Robert Hanshaw
Jeff Lienau
Saginaw, MI
Bobby Eason
David Rojas
Bottom Line Marine Company
Exxon
Mary
TARNE
P.O. Box
Village Gallery
Niceville
National Endowment For the Arts
Southern Federation of Art
Busby Electric
Walton and
Lewis, Ft. Walton Beach
Coleman
Susie
Osa
This is just the beginning! Our collection holds over 300 years of history, including rare newspapers, obituaries, marriage records, birth records, and so much more—most of which you won’t find anywhere else!