Friday, April 27, 2007

4/27/2007 MINORITIES SUCCEEDING IN THE BEAUTIFUL SOUTH

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MINORITIES SUCCEEDING IN THE BEAUTIFUL SOUTH

Minority and women owned small businesses are finding the funding needed through SBA loans and programs

COSTA MESA, CALIF. (April. 27 2007) - www.iBank.com, Lounging on the beach in Hilton Head is a dream come true to most people, but not to small business owners of South Carolina. Their dreams come true by using SBA loans. South Carolina is known for its beaches, tree house camping, the Riverbanks Zoo, riding the rollercoaster’s at Paramount Carowinds or just exploring the many different cultures; but to small business owners throughout the state, dreams come in the form of beauty shops, day spa’s, flower shops, auto shops and insurance agencies. These dreams were made possible through the governments SBA loans for minority owners in South Carolina.
Dreams come in all shapes and sizes which is fine with the good people associated with SBA funding. There are many certified/preferred lenders in South Carolina, such as First National Business Capital and the Appalachian Development Corporation CDC, both located in Greenville, along with Business Carolina, Inc., the Business Development Corporation of South Carolina and Regions Bank all located in Columbia, South Carolina. All of these institutions, along with many others are listed with the Small Business Administration District Office in Columbia.
“In conjunction with participating SBA lenders, we hold workshops throughout the state to promote small loans to new and existing businesses,” said Elliott Cooper, District Director for the South Carolina SBA office in Columbia. “The workshop format has increased our overall lending to minorities and women. Workshop participants not only learn about the SBA loan programs, but they can even apply for the loan at the workshop.”
The SBA office is dedicated to helping minority and women owned small businesses succeed in today’s competitive marketplace. The owner receives the funds needed to begin or grow their business into successful income generating ventures. The SBA guarantees these specific loans made by South Carolina lenders which in turn helps small business owners that don’t qualify for the typical bank loans. The SBA offers five loan programs that are specific to individual needs of the small business owner. One program is the 7(a) loan guaranty which is best for basic general business purposes; the 504 program which fills the gap in long term financing for such purchases as real estate and heavy equipment; the Micro loan program for small loans up to $35,000; the Small Business Investment company to help businesses find venture capital and the International Trade program to help small businesses enter and survive the international market.
Small businesses throughout South Carolina struggle to compete with larger organizations and corporations, especially minority and women owned businesses. To help support these owners facing special competitive opportunity gaps, the SBA in 2006 helped fund 66,300 loans through its 7(a) program and 6,812 loans through the 504 program, according to the Small Business Association website, www.sba.gov.
The local SBA office, located in Columbia, supports local business owners by offering various services and programs. The office has training seminars, educational sessions, start up help, local resources and financing. Each state office is dedicated to helping small businesses succeed in their state, which will in turn provide revenue for the small business and the state. Realizing that is the fastest growing segment of small business, the SBA is especially focused on helping minority and women owned business owners. Cooper says there are 37,501 minority owned businesses in the state as of 2006. Of these, 398 businesses have been funded through SBA loans, with Bank of America and Innovative Bank 99 funding the most loans. Cooper also estimates that most of these minority businesses are in the Coastal Area’s because of the tourism industries. Offering various programs and seminars to owners help them stay competitive.
“In this way, we bring the lenders to the people, and the participating lenders bring a simplified application process,” says Cooper. “These lenders then often follow up with each small business that receives a loan by providing free technical assistance.”
Another agency that helps minority owned small businesses is the Minority Business Development Agency, MBDA. Their mission is to enhance the growth and expansion of minority business entrepreneurs nationally. According to the U.S. Census Bureaus 2002 Survey of Business Owners, nationwide from 1997 through 2002, minority owned firms outpaced the national rate by 25%. The gross receipts for minority firms grew by 13% which surpasses the growth rate for all classifiable firms. Fourteen percent of all minority owned firms are in Health Care and Social Assistance which is the largest single industry sector for minority firms. With this substantial growth comes the responsibility to fund and invest in the entrepreneurs of tomorrow. With this in mind, the MBDA serves entrepreneurs in various ways with many different programs.
“The vision of MBDA is to serve as an entrepreneurial organization serving entrepreneurs,” said Ronald Langston, National Director Minority Business Development Agency, at the NEXT Regional Conference in April 2007. “At MBDA, we are committed to a long-term policy of strategic growth among the Nation’s minority business entrepreneurs which we hope will result in entrepreneurial parity. In order to achieve this long-term policy strategy we believe minority business enterprise should be a national priority.”


About iBank.com
Based in Costa Mesa, Calif., www.iBank.com, is America’s largest online small business Finance network. The network helps small businesses collect and store all business information inside a secure online VAULT; it helps create a digital loan package, and also insurance and investor application packages. Formed in 1999, www.iBank.com utilizes advanced search engine technology, and numerous other online tools for communication and connecting in real time with a nationwide network of loans, insurance and capital sources for a faster, easier, and lower cost experience.

iBank.com
Kathryn Johnson,
Co-Directors of Communication Technology
(714) 549-4226 ex: 125/127
kjohnson@ibank.com
3151 Airway, Building G-3
Costa Mesa, CA 92626

Thursday, April 12, 2007

2007.4.12 Looking for a Small Business Loan Look Outside Your Comfort Zone

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Kathryn Johnson
Director of Communications Technology
3151 Airway Ave, Building G-3
Costa Mesa, CA 92626
(949) 265-5767
kjohnson@credentrust.com

April 12, 2007
FOR IMMEDIATE RELEASE:
Looking for a Small Business Loan? Look Outside Your Comfort Zone
Small business owners looking for loans must look beyond the large well known sources and contact local establishments

COSTA MESA, Calif. – Are you looking to start a new business? Expand an existing one? Finding the perfect lending source can seem daunting, frustrating and especially exhausting. Whether you have A+ credit or something a little less, finding a funding source that is willing to listen to your story and act accordingly is becoming more and more difficult in today’s harried world of financial competition.
In the past most small business owners would turn to the logical choice for funding, a large bank. But according to a recent report from the California Reinvestment Coalition (CRC), which stated that not one of California’s 15 major business banks did a good job of lending to small businesses, especially those that are minority owned and located in lower income areas. These businesses are the ones most desperate to access capital so they can provide critical services and employment in low income neighborhoods.
“This study highlights the institutional barriers that small and minority-owned businesses continue to face when trying to expand their businesses,” said CRC Executive Director Alan Fisher as reported in company press release. According to the statistics from the study, “Since small businesses are the key to opportunity and hope in lower income communities, these barriers cut the heart out of the American ideal of equal opportunity.” Fisher went on to say, “This is a situation that must be remedied by major financial institutions, investigated by the U.S. Congress and scrutinized by the federal regulators who are responsible for overseeing these lenders.”
Throughout the United States, small business owners, especially the very small and minority-owned, face difficult challenges when dealing with large financial institutions. Most large banks want owners with perfect credit, established business credit and years in business. Small business lending is a niche market that is not being serviced by large banking institutions. Businesses in low income areas that employ local residents must receive help from all lending institutions, not just the small lenders.
With the passing of recent legislation, one government agency, the Small Business Association (SBA) has stepped up to the plate to help the little guys. This new legislation enhances the already successful SBA 7(a) and the 504 loan programs already in place. According to the FDIC Statistics on Banking report in 2006, the SBA 7(a) and 504 loan programs provide almost 40% of all the long-term small business lending. These programs promote low documentation with an 85% guarantee rate for loans up to $250,000. The loans can be made with a guaranteed 36 hour turnaround and supports greater regional SBA office resources, which helps community banks focus more attention on the needs of local families and businesses. With this new program it will expand the number of lenders nationwide that will offer SBA products. This will help the community bankers around the country to better service their small business customers
“The Independent Community Bankers of America (ICBA) supports this small business friendly legislation,” said James P. Ghiglieri, Jr., ICBA chairman and president of Alpha Community Bank in Toluca, Illinois, as reported in their newsletter. “This bill will greatly improve the ability of small businesses to access needed capital through community banks using the SBA loan programs.”
Community banks are a viable alternative for small business owners looking for funding sources. Community banks are the backbone as lending sources to small business owners. They provide needed attention to local families and channel most of the loans to local residents and neighborhoods. To keep these banks growing, officers are available to customers daily because they are involved with the community and most importantly they know their customers personally and are willing to consider family history and character when deciding to make a loan. Decisions are made at the local branches and not at corporate headquarters as with large banks. Large banks handle corporate America and community banks represent their small business communities.
“The main difference is that community banks have a “commitment” to fund SBA loans to small businesses as opposed to larger banks which simply “offer” the product,” said Bill Sorotsky Vice President / BDO of Inland Community Bank. “My bank is a PLP lender, a designation given to banks that are committed to the SBA program. As a business bank (as compared to a retail bank) we are dedicated to making commercial loans and developing a business relationship on an appointment basis.”
Small business owners can count on their local community banks, as proven with their increased growth in 2005. According to the Small Business Administration, during 2005 more new community banks opened for business since 1999. There are nearly 9000 community banks throughout the United States which constitute 95% of all banks. They are considered a critical source of small business lending which is important because small businesses are a very important part of the US economy, accounting for over 50% of non-farm private Gross Domestic Product.
Everyone should support the growth of small businesses. America has 25 million small businesses and employs more than 50% of the private work force. Small businesses are the principal source of new jobs in the U.S. Small business development is the future of the American economy and lenders should be in the forefront of the fight for small business expansion and stability.
“Community banks represent what’s great with America,” said Tom Markel, CEO and Chairman of Credentrust Software which powers iBank.com. “Institutions that take care of small businesses in their own communities are important to us at iBank.com. We represent many community banks on our small business network of lenders. We are dedicated to helping the small business owner find funding and any other resources they may need to succeed.”
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About iBank.com
Based in Costa Mesa, Calif., www.iBank.com, is America’s largest online small business Finance network. The network helps small businesses collect and store all business information inside a secure online VAULT; it helps create a digital loan package, and also insurance and investor application packages. Formed in 1999, www.iBank.com utilizes advanced search engine technology, and numerous other online tools for communication and connecting in real time with a nationwide network of loans, insurance and capital sources for a faster, easier, and lower cost experience.

Monday, April 2, 2007

4/2/2007 IS YOUR FAVORITE COMPANY ON THE GREEN LIST?

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IS YOUR FAVORITE COMPANY ON THE GREEN LIST?

Going green in today's competitive but ecology minded corporate world leads to a light environmental footstep


COSTA MESA, CALIF. (April. 02 2007) - www.iBank.com, What does Chiquita, Kraft, Nike and HSBC have in common? These companies are becoming greener and more environmentally conscience companies of the twenty first century. Gone are the days of corporate executive’s flaunting their profits and practices in front of polluting plants, now the world watches as executives at major companies are at the forefront of the fight against pollution, unsafe water practices and preserving the rainforests for future generations.
Major corporations today are hiring more employee’s that believe in the rainforest, safe drinking water, clean oceans and lower emissions for automobiles. Today it’s not enough to talk about being ecology minded, corporations actions must speak for themselves. Companies must talk the talk and walk the walk for ecology. Big or small, businesses are turning to the environment as a cause worth fighting, for all future generations.
Small or large, companies are making a statement about the global environment and what it will take to preserve this world for future generations. Anthony Cochran and Jesse Johnson from Q Collection in Manhattan followed their heart and their passions by creating a furniture, fabric and accessories company that is better for the consumer, the home and the environment. Their goal is the elimination of toxic chemicals, carcinogens and the leading components of poor indoor air quality. After much research they have come up with ways to create high-end quality merchandise that is environmentally friendly. They believe in promoting sustainable products which allows the following benefits; a reduction of acid rain, improved indoor and outdoor air quality, waste reduction, conservation of energy and increased social equity. Using these as long term goals their first concern is with the health impacts of indoor air quality. With the World Health Organization (WHO) declaring formaldehyde as cancer causing, the Q Collection has eliminated polyurethane and formaldehyde from their furniture to prevent further environmental damage. Cochran and Johnson believe in using only sustainable products such as harvested wood, organic cotton and 100% natural biodegradable materials.
“In summary, Q Collection is simply the most thoughtful designed line of home furnishings on the market,” said Cochran, as stated on the website. “We have successfully addressed the most pressing health and environmental issues in home furnishings and will continue to push further.”
Another small company trying to make a difference is Acorn Studios in Edmonton, Canada. Created by Nicola Harper, the company specializes in using old computer parts for design ware. After five years as a Waste Management Engineer, she followed her passion for recycling and created a company that utilizes her desire to save the earth along with her creativity for normal products. She creates necklaces out of computer wires, cuff links out of computer keys, clocks out of CD’s and circuit boards, keyboard necklaces and magnets, circuit board earrings and keyboard rings and key chains. Besides these unique items, Harper practices ecology and recycling by utilizing seven different recycling bins in the studio. She uses shredded magazines and junk mail for packing materials, and their worm bins make rich compost out of organic waste and confidential papers. Harper also uses natural lighting, low energy light bulbs and operates the craft equipment by hand. All of these measures add up to an owner dedicated to preserving planet Earth for generations to come.
“I’ve always been passionate about recycling and designing products from different reclaimed materials is fun!” says Harper. “We enjoy sharing our knowledge in recycling and composting by getting our hands dirty. We teach kids how to recycle paper and by setting up many home composting units in our community.”
Moving on to the big guys, such as Nike, Chiquita, Kraft foods, and HSBC, these companies are all contributing to global consciousness in various ways. These companies, whether they started early with their global efforts or have recently joined the growing ranks of environmentally conscience corporations, all have specific ideas and programs they use to motivate their employees and consumers into action. Today’s small or large businesses are coming to the aid of Mother Nature while world governments analyze the validity of global warming.
Keeping companies heading in the right direction within a globally conscience environment is the Rainforest Alliance. The Rainforest Alliance works with corporate consumers to source certified products like paper, coffee and building supplies for use in their offices. The Rainforest Alliance works to conserve biodiversity and ensure sustainable livelihoods by transforming land-use practices, business practices and consumer behavior, according to company papers. Based in New York with offices throughout the United States and worldwide, the Alliance sets standards for large and small businesses and corporations for sustainability.
“The Rainforest Alliance has worked with several companies that have made big strides in recent years in making more environmentally and socially responsible choices,” said Gretchen Ruethling, Communications Coordinator. “Three noteworthy examples of such companies are Kraft, Chiquita and Domtar.”
Kraft is helping to expand the global market for sustainability produced coffee, benefiting an ever increasing number of farm communities. Kraft has partnered with the Rainforest Alliance to train coffee farmers and assist them to reach certification standards. Beyond its own program, Kraft is supporting efforts of the coffee industry to adopt industry-wide standards of sustainability. Kraft is one of the world’s leading coffee companies. In 2005, Kraft introduced 100% certified lines of popular brands such as Kenco, Jacques Vabre, Gevalia and Splendid in the United Kingdom, France, Sweden and Italy. Kraft buys more certified coffee than it needs for the packages sporting the Rainforest Alliance seal and blends the extra beans into other well-known brands such as Maxwell House, Jacobs and Carte Noire.
“This is the most extensive commitment to sustainable coffee ever made; Kraft is setting the bar for the rest of the coffee sector and proving that sustainability can be integrated into the way a company does business,” explained Rainforest Alliance Chief of Agriculture, Chris Wille.

Starting in 1992, Chiquita Brand International, a giant in the banana industry, has been reinventing farms, one farm at a time. Guided by the Rainforest Alliance and its partners, Chiquita spent two years researching and communicating with scientist and industry representatives to create nine guiding principals that promote environmental sustainability and social equity on banana farms. Some of the principals include zero tolerance for deforestation, protection of wildlife, conserving water and soil and healthy working conditions which includes the right to unionize at these farms. Chiquita goes even further with the ideas of recycling and reusing by recycling close to 8o percent of the plastic bags and twine used by company farms. The company has also reforested more than 2,500 acres with almost one million trees and bushes used as buffers.
“Everything has changed thanks to the Rainforest Alliance program. We’ve cut agrochemical use,” said Raul Gomez, a farm manager in Costa Rica, who has worked with Chiquita for 15 years. “We’ve planted hundreds of trees along roads and streams. We’re promoting environmental education. And it’s all for the good of humanity, so that we can leave something for our children.”
Through their relationship with the Rainforest Alliance, Goldman Sachs, another environmental conscience company, sourced 100% FSC-certified wood inputs on their new financial tower in New York City. To help corporations make these sorts of sustainable choices, the Rainforest Alliance has introduced the new Sustainable Business Forum, with Goldman as well as Pfizer as founding members. This corporate membership program helps corporations to adopt sustainable business practices, promote their progress to stakeholders and build supply chains for sustainable products. The Rainforest Alliance and its corporate partners try to maximize their common goals of a healthier environment, an end to global warming and an end to clear-cutting the forests.
Nike, while still recovering from a lawsuit involving working conditions in underdeveloped countries, realizes that as a global company they are being judged by a global audience. Nike understands their impact on the world around them and tries to live by their slogan, leave no trace, which by industry standards is a difficult task. Trying to make the environment better for future generations, Nike has installed programs that reach out to local communities and helps reuse and reduce waste from their products. One such program is the Nike Reuse-A-Shoe, which was started in 1993. Nike collects both post-consumer and Nike shoes that are returned due to defects, and separates these shoes into three main sections – upper fabrics, mid-sole foam and outsole rubber – and grinds it up for various purposes. The outsoles and recycled manufacturing material is made into baseball and soccer fields, golf products, weight room flooring and running tracks. The midsoles are used in synthetic basketball courts, tennis courts and playground surfacing. Bouncing back from bad press is difficult for any company, but being a global company like Nike, the tasks are daunting but do able, with environmental programs like those listed above.
“Corporate responsibility challenges us to take a good, hard look at our business model and understand our impact on the world around us,” said Mark Parker and Charlie Denson, Co-Presidents of Nike. As stated in the Strategic Direction page, “For our company as a whole, we’ve set three strategic goals: To effect positive, systemic change in working conditions within the footwear, apparel and equipment industries; to create innovative and sustainable products; and to use sport as a tool for positive social change and campaign to turn sport and physical activity into a fundamental right for every young person.”
The next large corporation trying to make an environmental difference is HSBC. They are currently working with the World Wildlife Fund (WWF) and the Chinese government to help bring life back to the Yangtze River. The Yangtze Programme, created in April 2005, is developing ways to use the river in sustainable ways. Focusing on three key areas of drinking water, flood mitigation and protection of vulnerable areas, this program directly helps the 400 million people living along the water banks and basin. Another company project is tackling one of the biggest global problems, the worlds changing climates. To help diminish global warming, HSBC is the first major bank to go carbon neutral. The three main aspects to achieve this goal is, energy efficiency, green electricity and offsetting the remaining carbon dioxide emissions using allowances or credits.
Finally, another small company that has been paperless since 1999 is iBank.com. This is a small private company that believes the future is online and has since removed all paper applications from their financial network of lenders, agents and investors nationwide. They believe in preserving the environment by completely removing any paperwork that is involved in the loan process. To prove this point their new press kits will be on CD and will include the company logo on biodegradable paper that includes seeds which can be easily planted anywhere.
Going green is hitting the main stream and small and large companies are leading the way to a cleaner healthier Mother Earth. Businesses around the world are realizing that the actions they take today will affect generations for years to come. Companies worldwide must lead the fight for a greener healthier world so that others may find peace and solace within its waters and lands.



About iBank.com
Based in Costa Mesa, Calif., www.iBank.com, is America’s largest online small business Financial network. The network helps small businesses collect and store all business information inside a secure online VAULT; and helps create a digital loan package, along with insurance and investor application packages. Formed in 1999, www.iBank.com utilizes advanced search engine technology, and numerous other online tools for communication and connecting in real time with a nationwide network of loans, insurance and capital sources for a faster, easier, and lower cost experience. “Go Green, Go iBank.com”

iBank.com
Kathryn Johnson,
Co-Directors of Communication Technology
(714) 549-4226 ex: 125/127
kjohnson@ibank.com
3151 Airway, Building G-3
Costa Mesa, CA 92626