Archive for the ‘Financing’ Category

Economic Forecast – 2013

January 29, 2013

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This morning, several members of Nienow & Tierney, LLP had the opportunity to attend the 14th Annual Economic Forecast Breakfast sponsored by the OC Chapter of California Society of CPA’s.  The speaker for the morning was Dr. Esmael Adibi from the Anderson Center for Economic Research at Chapman University.

Dr. Adibi presented a forecast of cautious and slow growth for 2013.  He expects the GDP for the United States to increase by 2.1% in 2013.  This was following a 2.4% increase in 2012.

Dr Adibi also indicated that he expects consumer spending to increase by 1.8% in the United States for 2013.

In California, Dr. Adibi projects about 225,000 new jobs being produced and with 25,000 of those occurring in Orange County.   He also estimated that housing prices will increase by 6.8% in California.

It was a pleasure to hear Dr. Adibi’s forecast and we hope for an above average increase to our clients in 2013.

ARC Loans for Small Businesses

August 18, 2009

In order to provide small businesses with temporarily relief from a slow economy, the American Recovery Capital or ARC Loan program was designed.

This program went into effect on June 15th and provides a deferred payment loan of up to $35,000.  The loans will be used to make six months of principal and interest payments.  The funds can be used to pay any business debts such as lines of credit, secured and unsecured loans, credit card debt and even mortgages. 

After the six month disbursement period it is followed by 12 months with no repayment of the ARC principal.  This is followed by a repayment period of 5 years.  The SBA pays all the monthly interest to the bank.

The loans will continue as long as their are funds available or through September 30, 2010 whichever comes first. 

For more information and eligibility requirements see the following links.

http://www.sba.gov/recovery/arcloanprogram/index.html

The 2009 American Recovery and Reinvestment Act Provides Small Business Lending Opportunities

March 9, 2009

Via the AICPA Economic Crisis Resource Center

One of the less publicized provisions of the  recent stimulus bills is that it calls for $730 Million in additional funding to the Small Business Administration to reach more small businesses.

Check out www.sba.gov for more information, but here’s a highlight of how the funds are to be used:

  • $375 million for temporary fee reductions or eliminations on SBA loans and increased SBA guaranteed shares, up to 90 percent for certain loans
  • $255 million for a new loan program to help small businesses meet existing debt payments
  • $30 million for expanding SBA’s Microloan program, enough to finance up to $50 million in new lending and $24 million in technical assistance grants to microlenders
  • $20 million for technology systems to streamline SBA’s lending and oversight processes
  • $15 million for expanding SBA’s Surety Bond Guarantee program
  • $25 million for staffing up to meet demands for new programs
  • $10 million for the Office of Inspector General