For Chamber of Commerce Professionals - Michigan 2013 Business Resouce Guide

Michigan

2013 BUSINESS RESOURCE GUIDE

For Chamber of Commerce Executives

 The Michigan Business Resource Guide was developed by VillageProfile.com, the leading Chamber of Commerce directory and map media company in the

United States. It is a quick reference guide that is built on the stages of business development needs. Included are more than 15 of the best business websites in the U.S. All of the information outlined below can be covered more extensively by contacting your local Michigan chamber executive or the Michigan Chamber of Commerce: www.michamber.com

Starting Your Business

Michigan Business Portal:                                   http://www.michigan.gov/business

 

Single point of entry for business registration, filings, licenses and permits for doing business in Michigan. –

Michigan Small Business and Technology Development Center: - http://misbtdc.org/

Helps Michigan's entrepreneurs succeed in private enterprise.

Michigan Business Resource Library: Documents and links that address the concerns of small business. www.mel.lib.mi.us

Michigan Department of Economic Development: 

The MEDC strives for partnerships that will flourish with the application of programs, incentives and innovative strategies.            http://www.michiganbusiness.org/                                                                                                                                        

SBA (Small Business Administration):  Resources and links to program and services to help your business grow and succeed. www.sba.gov/smallbusinessplanner  

SCORE (Service Corps of Retired Executives): A non-profit association dedicated to educating entrepreneurs and the formation, growth and success of small business nationwide. www.score.org

SPARK The SPARK Entrepreneurial Team (Ann Arbor) offers select business acceleration services that drive the development of innovative technology start-ups by shortening the time required to attract capital, customers and other resources. http://www.annarborusa.org/

Michigan New Hire Operations Center – www.mi-newhire.com
Michigan Employer Guide to New Hire Reporting along with the New Hire Reporting Form.

Your local Chamber of Commerce: Your local point of contact and resource clearinghouse for local business needs. Contact the Executive Director in your town.

Maintaining Your Business

Career Center: - For tips on hiring and managing employees, visit the federal Small Business Administration’s (SBA) on-line resource at:

http://www.sba.gov/content/hire-your-first-employee

Employment and Labor Law Guide: Resources that will help you understand federal and state labor laws. http://business.usa.gov/jobcenter-wizard

Michigan Department of Licensing and Regulatory Affairs: LARA supports business growth and job creation while safeguarding Michigan's citizens through a simple, fair, efficient and transparent regulatory structure. http://www.michigan.gov/lara

Michigan State University Extension                http://msue.anr.msu.edu 
Michigan State University Extension is committed to being responsive to Michigan's needs in the most efficient way possible. As a result, MSU Extension has redesigned its structure to facilitate seamless response and action on important issues facing the state.
Michigan Works –                                                  www.michiganworks.org
A public-private partnership between Michigan Department of Energy, Labor & Economic Growth and Michigan Works which serves Michigan’s employers and workers where job openings can be posted.

Growing Your Business

Michigan Business Development: http://www.michiganbusiness.org/grow/incentives-taxes/

Michigan has reinvented the incentive process. Instead of offering tax credits that may provide future savings based on jobs and investment targets, MEDC has programs that provide immediate benefit. Couple these innovative programs with a low 6% Corporate Income Tax and the proposed elimination of the Personal Property Tax, Michigan offers one of the best pro-business environments in the country.

Each year, $170 million is available in incentives and assistance. Plus, $100 million is available in loans to small and midsize businesses. 

IRLEE                                                                                     http://irlee.umich.edu/

The Institute for Research on Labor, Employment, and the Economy (IRLEE) at the University of Michigan was established in July 2008 as a new entity, merging two longstanding university units, the Institute of Labor and Industrial Relations (ILIR) and the Business and Industrial Assistance Division (BIAD).

Pure Michigan Business Connect                                            

www.puremichiganb2b.com

Pure Michigan business connect is a multi-billion dollar public/private initiative developed by the Michigan Economic Development Corporation that connects Michigan businesses by introducing them into the purchasing pipelines of the state’s larger companies. Through this Business-to-Business (B2B) network, Michigan companies are encouraged to increase their procurement spending within the state. Professional assistance is available to small businesses and startups at little or no charge, including legal, accounting, Web development and human resource assistance. 

Small Business Marketing Links: http://www.michiganbusiness.org/reference-library/

·                                 The Michigan Economic Development Corporation is a public-private partnership serving as the state's marketing arm and lead agency for business, talent and jobs, tourism, film and digital incentives, arts and cultural grants, and overall economic growth. MEDC offers a number of business assistance services and capital programs for business attraction and acceleration, economic gardening, entrepreneurship, strategic partnerships, talent enhancement and urban and community development.

 South Central Michigan Regional Entrepreneur Collaborative (SCM-REC)

http://www.espotmi.org/

The South Central Michigan - Regional Entrepreneurial Collaborative was established in October 2010 for the purpose of assisting entrepreneurs in Hillsdale, Jackson and Lenawee Counties.

The Michigan Economic Development Corporation 

http://www.michiganadvantage.org

The Michigan Economic Development Corporation (MEDC) is the resource for businesses seeking to grow in Michigan. Whether it's an expansion, relocation, or even a concern with another agency of state government, the MEDC can help. From site location assistance to job training grants, from help with permits to tax abatements, we're the state's economic development corporation.

Michigan Small Business Links: https://www.michigan.gov/business

Business.gov: Official business link to U.S. Government - www.business.gov

Michigan Chamber of Commerce and Industry: http://michamber.com

* - Multiple sources, including the Warrenton, MO Chamber of Commerce. 

John Dussman is Midwest Manager for VillageProfile.com, working with chambers in Arkansas, Illinois, Indiana, Kentucky, Michigan and Missouri. More than 1500 Chamber of Commerce all over the United States have trusted Village Profile to produce their Membership Directories, Community Profiles, Visitor Maps and Publications, Economic Development magazines and Chamber of Commerce Maps. Contact John at (800)-600-0134 x239. Email is  jdussman.vp@villageprofilemail.com .

Arkansas Chamber Executive Career Opportunity: President/CEO of Exceptional Chamber of Commerce in El Dorado, Arkansas.

Voted as having "America's Best Downtown" in 2009, El Dorado, Ark. has become an area rich in southern charm and history. In 2012, El Dorado earned two City of Distinction Awards, taking top honors for Tourism and Workforce Development. The El Dorado Chamber of Commerce serves El Dorado and Union County by promoting growth and economic development, advocating for the business community and serving our members with outstanding programs, networking opportunities and benefits. Current President Henry Florsheim is leaving to lead the Wichita Falls, Tx Chamber of Commerce. The El Dorado Chamber of Commerce conducted a strategic planning session on November 30 and December 1, 2011, with approximately 15 community and business leaders from around the county attending the meetings.   The Strategic plan was reviewed in February and approved by the Chamber of Commerce Board of Directors on Wednesday, March 14, 2012. You can access the El Dorado Chamber of Commerce Strategic Plan for Economic Development here: http://goeldorado.com/Images/Interior/chamber/final%20strategic%20plan.pdf A list of El Dorado strategic partners is listed here: http://goeldorado.com/strategicpartners

Job Description:

The El Dorado Arkansas Chamber of Commerce is seeking an innovative, collaborative leader to direct economic development and Chamber activities.

Responsibilities:

The President/CEO will manage all Chamber operations, including economic development, advocacy and Chamber-related activities such as membership and fundraising.  Internal management will include budgeting, financial oversight and staff supervision and development. This individual will plan and implement strategies to identify, target and attract new business as well as assist existing business in workforce development and expansions in El Dorado and Union County.  The President/CEO will work closely with various partners including governmental bodies, South Arkansas Community College, utilities, elected officials, and regional and statewide economic development partners.

The President/CEO also has the responsibility of managing the assets of the El Dorado Development Corporation, the Union County Industrial Board and the PRIDE foundation. These assets include cash, land and buildings.

Qualifications:

A degree in economic development, business, public administration, or related field is preferred; MBA, CEcD or PCED certification is desired.  The candidate should have a minimum of seven years of relevant experience; however, a candidate with an equivalent combination of education, training, and experience which provides the appropriate knowledge, skills, and abilities for the position may be considered.

Please submit cover letter, resume and salary history (email preferred) to:

Bill Luther, Chair, El Dorado Chamber of Commerce

111 W. Main Street

PO Box 10836

El Dorado, AR  71730

wluther@entergy.com

Multiple Sources, including www.goeldorado.com   and www.glennshepard.com 

#lovemychamber - The Return on Investment on my Chamber Dues --- Every Tuesday - Reason #8 - Certificates of Origin - Generic and Electronic

Millions of Certificates of Origin are issued each year. The 1923 Geneva Convention and subsequent 1999 Kyoto Convention have seen governments formally recognize the important role chambers play in this domain, deeming them authorities and credible trusted third-parties in the issuance of Certificates of Origin.

CERTIFICATES OF ORGIN - from Export.gov

Generic Certificate of Origin

The Certificate of Origin (CO) is required by some countries for all or only certain products. In many cases, a statement of origin printed on company letterhead will suffice. The exporter should verify whether a CO is required with the buyer and/or an experienced shipper/freight forwarder or the Trade Information Center.

Note: Some countries (i.e., numerous Middle Eastern countries) require that certificate of origin be notarized, certified by local chamber of commerce and legalized by the commercial section of the consulate of the destination country. For certain Middle Eastern countries, the National U.S.-Arab Chamber of Commerce may also provide such services.

For textile products, an importing country may require a certificate of origin issued by the manufacturer. The number of required copies and language may vary from country to country.

Certificate of Origin for claiming benefits under Free Trade Agreements

Special certificates may be required for countries with which the United States has free trade agreements (FTAs).Watch our FTA webinar for more information. Some certificate of origin including those required by the North American Free Trade Agreement (NAFTA), and the FTAs with Israel and Jordan, are prepared by the exporter. Others including those required by the FTAs with Australia; the Dominican Republic-Central America-United States Free Trade Agreement (CAFTA-DR) countries; Chile; and Morocco; are the importer’s responsibility). Click on a specific country below to learn details on how to document origin.

• Australia (CO samples)
• Bahrain (importer to check with Govt. of Bahrain on format/information)
• CAFTA-DR (Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras CO sample)
• Chile (CO sample)
• Israel (CO sample Note: The green form needs to be purchased from Vendor or US-Israel Chamber of Commerce or a publishing house.)
• Jordan (notarized generic certificate of origin required)
• Morocco (importer makes a claim on the basis of supporting evidence)
• NAFTA (CO sample and relevant videos)
• Singapore (No certificate of origin is required. However, the importer is required to produce the necessary permits together with an invoice, at the time of cargo clearance.)
• Peru (There is no prescribed format. However, specific information is required. See implementing instructions and sample certification guidance for Peru.
• Korea (There is no prescribed format. However, specific information is required. See documenting originguidance and required data elements for certification for Korea.

Certificate of Origin for goods not manufactured in the United States

Certificates of origin for goods not manufactured in the United States can be obtained from the U.S. Chamber of Commerce. The U.S. Chamber of Commerce uses EZCertOrigin™, a service provided by ICS Consulting, LLC, to process all requests submitted for certificates of origin (both U.S. and non-U.S.). Exporters can visit EZCertOrigin or call 1-888-885-6650 to obtain the forms required by the U.S. Chamber of Commerce and detailed instructions on how to fill out the forms. The fee for each certificate is $40.00 for U.S. Chamber members. The fee for each certificate is $150.00 for non-U.S. Chamber of Commerce members. It costs $5.00 per copy for certified copies of certificates.

USCIB is now issuing electronic Certificates of Origin (eCOs). USCIB's eCOs save time and money, bypassing the delay and expense of employing messengers to obtain certification.  After a few simple steps, and certification by USICB, eCOS can be printed from any computer. We are a trusted name in the United States, and well known among customs administrations around the world. USCIB has over four decades' experience in export documentation. 

Source: Export.gov 

Electronic Certificates of Origin - Q & A From the LAchamber.com

What is a Certificate of Origin?

A Certificate of Origin (CO) is a document which states the origin of goods being exported. Virtually every country in the world considers the origin of imported goods when determining what duty will be assessed on the goods or, in some cases, whether the goods may be legally imported at all.

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Who needs it?

Exporters. Certificates of Origin may be needed to comply with Letters of Credit, import Customs requirements or a buyer's request.

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How does the Chamber know the information being provided by the exporter is accurate?

It can't. Chambers certify only that which they are able to verify. Certification guarantees the accuracy or truth of information contained in the document and is expressed by using the word "certified." Certification may be given for the whole document or may be limited to the position and identity of the Signatory. If the Chamber is presented with a declaration attesting to commercial details, the accuracy of which it cannot check it must confine itself to stamping the document attesting to the position and the identity of the signatory. 

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Can exporters or agents "self-stamp" certificates by acquiring and applying the Chamber seal?
No. Chambers that provide their seal directly to exporters or their agents are exposing themselves to liability by providing their seal without examining the documents and going through the check list. In some cases where Chambers have given their seal there have been cases involving the fradulent issue of certificates or the forging of certifications.

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Can a Freight Forwarder stamp and sign?
No. The criteria for having chamber of commerce certify Certificates of Origin is they have direct members who are exporters and should retain profile details of the exporters in their database. An issuing body should not be an organization that provides services to exporters such as freight forwarders, which could compromise their integrity and impartiality in the authentication of Certificates of Origin.

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Can a chamber sign Declarations of Origin or invoices before the exporter?
No. Where it is necessary for a declaration of origin or any other declaration to be on the export invoice, applicants must present the invoice bearing the requisite exporter's declaration and any requirements of the particular country to which the goods are being consigned or as required to meet reasonable commercial needs. The declaration on the original and on each copy invoice must be signed.

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What are the benefits to my business if I switch to electronic?
Completing your Certificate of Origin online through your local chamber of commerce helps eliminate the likelihood of errors and reduces the cost. Also key information is stored, allowing for repeat Certificates to be created without the need for ongoing repetitive form filling.

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Who is authorized to sign on behalf of the Exporter?
Only the principals or their duly authorized signatories or agent. Principals include in the case of a sole trader, by the proprietor himself; in the case of a partnership, by a partner of the firm; in the case of a corporate body, by a director or the Secretary. Alternatively, declarations may be signed by an authorized agent of the principal.

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Who determines whether a Certificate of Origin is required?The responsibility to comply with the requirements of the importing company rests with the exporter — not the chamber. It is also the exporter's responsibility to obtain the Certificate of Origin, in accordance with the buyer's or country of import requirement.

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Is there a need to have two Certificates of Origin that specify different criteria — e.g., one for U.S.-originated products and one for non-U.S.?

No. The Certificate of Origin can be one document for both, which means the declarations are generic for both the Chamber and the Exporter and where products are grouped by origin on the Certificate.

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What is a "letter of waiver" in relation to Certificates of Origin?
The letter of waiver is in fact the Formal Undertaking, which removes the need for a notary or lawyer. The waiver means the exporter takes responsibility and holds the Chamber harmless without getting tangled up in legalism. It has nothing to do with opening the door for pre-approving certificates or providing a chamber stamp to an exporter or freight forwarder to self stamp.

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Does a Certificate need to be notarized?
No. Notarization is old hat and was replaced by Formal Undertaking, which means the Exporter's Authorized officer makes a declaration to the chamber, indemnifies, provides a list of the signatories and agrees to keep the Chamber updated of any changes.

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What is a NAFTA Certificate?The NAFTA Certificate of Origin only applies for goods exported between the United States, Canada and Mexico. Exporters can authorize NAFTA certificates without needing a stamp from the Chamber.

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How do I get started?

Fill out the online form. For questions, contact Hilda Mesta, 213.580.7517

Source:  LAchamber.com

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The Value Proposition - Chamber of Commerce annual dues: Around $250. Value of the Chamber of Commerce benefit #8 for a medium sized exporting company with no other participation in the chamber; $500 - Return On Investment Features #1-#8 = $4450; Total Return On Investment for Chamber Membership - 1780%.

Chamber Executive Ongoing Education Weekly New Idea - Do It! Marketing - 77 Instant Action Ideas to Boost Sales, Maximize Profits and Crush Your Competition - By David Newman

I attended the MACP conference for chamber executives, and one of the highlights was a talk given by David Newman. He took multiple chamber themes and made them into simple action items.

Chamber of Commerce Action Areas:
1. Recruiting
2. Retention
3. Marketing
4. Programming

Do It Marketing
D- Define
O- Organize
I- Implement
T- Track

Make every action item a VERB, NOUN, DATE - Example: Call Steve Monday

Define your Best Customers (members):

Most Likely to Stay
Most Likely To Volunteer

What Customer is not for you?

Membership Value Proposition - Why do they Join?
Program Development Proposition - Why do they Attend?
Engagement - Who do I Serve?
Retention - Why do I Stay?

There are Four Levels of Marketing

1. Strategy - Why to? What you Should NOT be Building, Offering, Selling
2. Tactics - How to
3. Initiatives
4. Action Steps - VERB, NOUN, DATE

Define 2 major Strategies - develop and expand the strategies - there will be dozens of tactics

Defining major Strategies - Survey your members. What are they most interested in?

Possible Ideas:

1. Marketing/Sales (Growth)
2. New Ideas (Innovation)
3. Leadership & Management (People)
4. Training and Development (People)
5. Network & Sharing (Community)
6. Other (Advocacy, Lobbying, Insurance, Politics)

Survey: You can't fulfill your member's needs, until you know what your membership's needs are.

Below is information about the book written by David Newman - Do It! Marketing

As a small-business owner or solopreneur, you wear many hats--perhaps the most important of which is marketer. 

But these days, with so many new ways to reach customers and clients -- and only so much time in the day -- it's hard to know where to start. Should you be using social media? Email? Blogs? Video? SEO? 

Small business marketing doesn't have to be a mystery. It's just a series of simple decisions (and the action steps to implement those decisions) that will help you regain the clarity, confidence, and control you need to succeed.

Do It! Marketing is a quick read and an encouraging kick in the pants that will reignite your marketing mojo. The underlying premise is that "only action creates results."

Packed with do-this-now ideas to attract, engage, and win more customers and clients, this no-nonsense book reveals how to:

• Avoid blah, blah, blah marketing
• Use magnetic marketing strategies that pull (not push) qualified prospects into your world
• Get noticed using the power of 3PR
• Position yourself as the go-to expert in your field
• Become the obvious choice by building your Thought Leadership Platform
• Do social media right
• Zero in on your customers' pain/gain factors
• Learn to speak prospect language about prospect problems
• Generate a steady stream of referrals
• Identify and focus on high-payoff marketing activities
• Gain clarity, confidence and control so you sell more - more easily and more often
• Cultivate and leverage enthusiastic advocates
• And more 

Energetic, inspiring, and filled with concrete strategies, tactics, templates, and tools, Do It! Marketing shows you how to stop "marketing by accident" and start outsmarting, out-positioning, and out-executing the competition.

#lovemychamber - The Return on Investment on my Chamber Dues --- Every Tuesday - Reason #7 - Membership in a Chamber of Commerce Positively Impacts That Consumers will Patronize Your Business in the Future

How Chamber Membership Impacts a Small Business - When consumers know that a small business is a member of the Chamber, the business enjoys a 49% increase in its consumer favorability rating, a 51% increase in consumer awareness, a 57% increase in its local reputation, and a 63% increase in the likelihood that consumers will patronize the business in the future.

The 2012 study, conducted by The Schapiro Group, an Atlanta-based strategic consulting firm, found consumer perceptions of chamber members to be positive in many ways: 

 If a company shows that it is highly involved in its local chamber (e.g., is a chamber 
board member), consumers are 10% more likely to think that its products stack up better 
against its competition. 
 When consumers know that a national restaurant franchise is a member of the chamber of 
commerce, they are 68% more likely to eat at the franchise in the next few months. 
 When consumers know that an insurance company is a member of the chamber of 
commerce, they are 36% more likely to think favorably of the company. 

Major Impact on Small Businesses 
Small businesses represent the largest segment of most local chamber membership rolls, and the study indicates that chamber membership has consistent and powerful benefits for small business members—if consumers are aware that the small business is involved with its local chamber. 

For example, if respondents know that a small business is a member of its local chamber, the 
business enjoys a 49% increase in its consumer favorability rating, a 73% increase in consumer awareness, a 68% increase in its local reputation, and an 80% increase in the likelihood that consumers will patronize the business in the future. 

For more information about this study and the Shapiro Group (TSG), http://www.schapirogroup.com/eUpdate/eUpdate_summer2013.htm

Sources: Multiple, including TSG, ACCE Release, Nov 2012

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The Value Proposition - Chamber annual dues: Around $250. Value of the Chamber of Commerce brand benefit #7 with no other participation in the chamber; $500 - Return On Investment Features #1-#7 = $3950; Total Return On Investment for Chamber Membership - 1540%.

Chamber Executive Ongoing Education Weekly New Idea - A Positive Attitude - Unbroken: A World War II Story of Survival, Resilience, and Redemption by Laura Hillenbrand

Positive attitude are two words you can use to describe many successful chamber executives. Chamber life is full of daily surprises and ups as well as downs. Anyone can have a bad day and feel the world is out of synch. If you feel that you are facing insurmountable challenges, take the time to read what a real bad day (week, year) looks like, and how "surmountable" the opportunities we face everyday are.

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Unbroken: A World War II Story of Survival, Resilience, and Redemption by Laura Hillenbrand

On a May afternoon in 1943, an Army Air Forces bomber crashed into the Pacific Ocean and disappeared, leaving only a spray of debris and a slick of oil, gasoline, and blood.  Then, on the ocean surface, a face appeared.  It was that of a young lieutenant, the plane’s bombardier, who was struggling to a life raft and pulling himself aboard.  So began one of the most extraordinary odysseys of the Second World War.

The lieutenant’s name was Louis Zamperini.  In boyhood, he’d been a cunning and incorrigible delinquent, breaking into houses, brawling, and fleeing his home to ride the rails.  As a teenager, he had channeled his defiance into running, discovering a prodigious talent that had carried him to the Berlin Olympics and within sight of the four-minute mile.  But when war had come, the athlete had become an airman, embarking on a journey that led to his doomed flight, a tiny raft, and a drift into the unknown.

Ahead of Zamperini lay thousands of miles of open ocean, leaping sharks, a foundering raft, thirst and starvation, enemy aircraft, and, beyond, a trial even greater.  Driven to the limits of endurance, Zamperini would answer desperation with ingenuity; suffering with hope, resolve, and humor; brutality with rebellion.  His fate, whether triumph or tragedy, would be suspended on the fraying wire of his will.

Greater Lafayette Indiana Commerce Economic Trends - How Training and Teamwork Bring Results

"A community where advanced manufacturing thrives, next generation science and technology lead to breakthrough advancements, education opens doors of opportunity, and the arts, recreation, after-hours life and affordable housing combine to assure a robust quality of life—that defines Greater Lafayette, Indiana.
At the core: a proactive, go-after it community committed to working together and sustaining economic health and growth.
Successes so far in 2013 include Subaru of Indiana’s announcement of a $450M expansion, launch of three co-workingfacilities, several new banks, dozens of new restaurants and retailers, and healthcare
expansions. Equally impressive are the collective efforts moving the community forward in areas from workforce development to Wabash River enhancement.
It all adds up to stellar rankings—Fortune’s No. 1 Best Place for Small Business in Indiana and No. 8 nationally—along with other enviable recognitions as Greater Lafayette claims the right to be called “The Place of Choice.”

...Greater Lafayette’s economic development, government, education, business and industry groups collaborate on a number of communitywide efforts.

Advancing Manufacturing: We Have Jobs Here, We Have Training Here, launched in 2012

by Greater Lafayette Commerce, Ivy Tech Corporate College, Region 4 Workforce Board and WorkOne, among other supporters, offers scholarship-funded training for job seekers to earn production certification, if needed. The program pairs applicants with employers. In 2012, 295 applicants were hired through the program; 91 completed training. www.advancingmanufacturing.com "

Other Recognition Received in 2013

Business

No. 17 of 200, New Geography, Best Cities

for Manufacturing.

Economic Front-Runner, Area Development

Magazine in Leading Locations List.

No. 21 of 25, Money Magazine, West

Lafayette, for cities with youngest

population; median age 23.5.

Read More and Download: Economic Development: Greater Lafayette, Indiana | Greater Lafayette Commerce Economic Trends Report - Septmber 2013 http://buff.ly/1atStvq

The SBAExpress Guaranty is Available to Lenders as a Way to Obtain A Guaranty on Smaller Loans up to $350,000 for Small Businesses.

SBAExpress

The SBAExpress guaranty is available to lenders as a way to obtain a guaranty on smaller loans up to $350,000.  The program authorizes select, experienced lenders to use mostly their own forms, analysis and procedures to process, service and disburse SBA-guaranteed loans.  The SBA guarantees up to 50 percent of a SBAExpress loan.  Loans under $25,000 do not require collateral.  The use of loan proceeds is the same as for any basic 7(a) loan.   Like most 7(a) loans, maturities are usually five to seven years for working capital and up to 25 years for real estate or equipment.  Revolving lines of credit are allowed for a maximum of seven years.

SBAExpress features an accelerated turnaround time for SBA review; a response to an application will be given within 36 hours.

About the Program

Maximum Loan Amount:	$350,000 (See SBA's October 8, 2010 press release for more information about the temporary increase to $1,000,000)
Maximum SBA Guaranty %:	50%
Interest Rate:	Lenders and borrowers can negotiate the interest rate. Rates can be fixed or variable and are tied to the prime rate (as published in The Wall Street Journal), LIBOR, or the optional peg rate (published quarterly in the Federal Register) and may be fixed or variable, but they may not exceed SBA maximums: lenders may charge up to 6.5 % over the base rate for loans of $50,000 or less, and up to 4.5 % over for loans over $50,000.
Eligibility Decision:	By SBA; qualified lenders may be granted authorization to make eligibility determinations.
Revolving Lines of Credit:	Up to seven years with maturity extensions permitted at the outset.
SBA Turnaround Time:	Within 36 hours
Forms:	Lender primarily uses own forms and procedures, plus SBA Form 1919, Borrower Information.
Collateral:	Lenders are not required to take collateral for loans up to $25,000; may use their existing collateral policy for loans over $25,000 up to $350,000.
Credit Decision:	By lender.
Purchase:	May request expedited SBA purchase on small loans or in situations where liquidation may be delayed.

Loans made under this program generally follow SBA’s standards for the 7(a) Loan Program.

Eligibility

A lender may be eligible to participate in SBAExpress if:

• It is currently an SBA partner lender and meets certain portfolio performance standards.
• There are no minimum SBA loan volume requirements to begin making SBAExpress loans.
• It is currently a non-SBA lender that makes a reasonable number of commercial loans of $50,000 or less.

For More Information- See News Release below

SBA Implements Higher Maximum Loan Sizes Made Possible by Small Business Jobs Act

Release Date: 

WASHINGTON – On the heels of completing final approvals of loans to nearly 2,000 firms that has been in its loan queue waiting for final approval of the Small Business Jobs Act, the U.S. Small Business Administration has finished implementation of another major element of the bill: increasing maximum sizes in several of its loan programs.

The changes – effective today – are permanent for general small business loans under SBA’s 7(a) guaranteed loan program, fixed asset loans through the 504 Certified Development Company program, Microloans, and International Trade, Export Working Capital and Export Express loans. A temporary increase for SBA Express loans is good for one year.

“Across the country, there are small businesses owners who are in a position to take that next step to grow and create jobs, and these larger loan sizes provide another tool to help them do just that,” SBA Administrator Karen Mills said. “Whether they’re in the start-up phase and could use a microloan or are looking to take advantage of lower real estate prices and interest rates to buy a new building to expand, SBA loans can now be an even greater resource to help entrepreneurs and small business owners get the capital they need.

“Additionally, temporarily increasing the cap on SBA Express loans from $350,000 to $1 million will allow more small businesses to take advantage of the streamlined approval process for working lines of credit and other capital they need,” Mills said.

Under the Jobs Act provisions, SBA has permanently increased 7(a) and 504 limits from $2 million to $5 million, and for manufacturers and certain energy-related projects seeking 504 loans, to $5.5 million. The maximum for International Trade and Export Working Capital loans also has been increased from $2 million to $5 million.

SBA also permanently increased microloan limits from $35,000 to $50,000, helping larger entrepreneurs with start-up costs and small business owners in underserved communities. It also raised the limit on Export Express loans, from $250,000 to $500,000, and made the program permanent.

SBA Express loan limits have been temporarily raised from $350,000 to $1 million for one year. These loans offer a streamlined application process with reduced paperwork and approval often in a matter of days. Unlike traditional 7(a) loans, SBA Express loans carry a 50 percent guarantee and can be used as revolving lines of credit – to help restock inventories and support larger revenue sales – which are particularly critical for small businesses as they emerge out of the recession.

SBA’s own trends show increasing demand for larger loans. The percentage of lending volume for guaranteed loans greater than $1.5 million has grown, from 13 percent of total dollars approved in fiscal year 2005 to 21 percent in fiscal year 2010, with many loans actually at the $2 million maximum. In the 504 program, the percentage of loan volume committed to loans greater than $1.5 million also has grown, from 15 percent of total dollars approved in fiscal year 2005 to 25 percent in fiscal year 2010.

SBA has already put in place the alternate size standard that expands eligibility for SBA-backed loans that was included in the Jobs Act, increasing the alternate size standard to include those small businesses with less than $15 million in net worth and $5 million in average net income.

Additionally, Administrator Mills announced on Tuesday that all loan applications placed in the SBA’s loan queue by small business borrowers had received final approval, amounting to 1,939 loans for nearly $970 million. The loans were able to make use of loan guarantees up to 90 percent and reduced fees extended under the Jobs Act. Many of the loans had been in the queue waiting for the extension since May.

The bill provided the agency with enough funding to support an estimated $14 billion in lending to small businesses with the extension of higher guarantees and reduced fees in the top two loan programs, first implemented as part of the American Recovery and Reinvestment Act of 2009.

The Jobs Act also includes additional resources to help increase lending to small businesses, including the State Small Business Credit Initiative announced today by the Department of Treasury that will support $15 billion in lending through local programs and the Small Business Lending Fund, which will provide capital to local, community banks to increase their lending to small businesses.

Additionally, the new law contains $12 billion in tax credits targeted to small businesses, including higher deductions for investing in new machines and equipment, zero capital gains for those who buy and hold small business stocks for five years, and a doubling of the maximum deduction for startups to $10,000. It also allows self-employed Americans to completely deduct health insurance costs for themselves and their families.

Friday, October 8, 2010

Release Number: 

10-59

Contact: 

Mike Stamler (202) 205-6919

Internet Address: 

http://www.sba.gov/news

# # #

Source: sba.gov

Chamber of Commerce Networking Programs - Helping Your Members to Really Know Each Other and Expanding Their Business Contacts Through Multi-Chamber Events

Are you looking for a way to make the most of your Chamber membership? Are you the person that skips the social networking groups because you already know everyone? Offer this suggestion to your chamber. Suggest a speed networking event with multiple chambers. It's like speed dating with a better outcome.

Step 1: Speed networking within your own chamber
Step 2: Speed networking through multi-chamber events.

Multi-chamber speed networking offer you a wonderful opportunity and a structured way to meet multiple business acquaintances from your chamber (or multiple chambers) of commerce in quick succession. Having a guideline for everyone to follow help people who network infrequently from being overwhelmed. In order for these events to be successful, everyone needs to follow the rules. Writing your own script is helpful. Remember, these introductions are to set the table, not to serve the whole meal. Each  member gives a three-minute presentation about their business.

Before the networking starts, every member at the table should exchange business cards. Now, follow the script:

1. Your Name
2. Name of Your company
3. What Is Your Position At Your Company
4. What Does Your Company Do
5. What Makes You or Your Company Unique.
6. You Should Do Business With Me because... If other chamber members will speak highly of you, use testimonials from other chamber members. 
7. A good Business Lead for me is... (name  3 or 4 specific company targets, company size, or customer group that allows your audience to bring up suggestions of people they know). While the people sitting with you may not immediately need your services, they may know someone actively seeking that product or service in the market  or someone that would be a good candidate for your business.

The organizing chamber will assign all participants to non-competitive tables for each round. What types of businesses would be interested in Multi-chamber speed networking events?

Attorneys
Auto repair
Banks
Hotels
Catering & Hospitality
Health Care
Media
Promotion
Real Estate
HR services
Mortgage
Legal Services
Telecomm
Taxes and Law
Credit Card Services
Office Supply
Employment Agencies

That's right! Just about every business in your chamber:

Here are some general speed networking guidelines:

1. Each person has a name tag with table rotations for each round.
2. The organizing chamber executive (moderator) will announce each table rotation, proceed to the table number listed on your name tag.
3. Assign a time-keeper at your table for each three minute portion.
4. Each member introduces themselves and their company over a three minute period using the seven steps listed above. 
5. The moderator will give a 5 minutes warning before each table rotation.
6. There is a 5 minute passing period.
7. 3 table rotations is a good start. More rotations can be added, depending on the total number of attendees. 
8. Attendees may stay at the conclusion of the speed networking event to continue to make connections.
9. Every attendee should receive a list of the people (and contact information) that attended, including the chamber of commerce executives that helped to set up the networking program. 

If you would like to get a fact sheet that covers all the rules, email me at jdussman.vp@villageprofilemail.com. And "pass it forward".

Multiple Sources including the Maumee (Ohio) Chamber, Skokie (Illinois) Chamber

John Dussman is Midwest Manager for VillageProfile.com, working with chambers in Arkansas, Illinois, Indiana, Kentucky, Michigan and Missouri. More than 1500 Chamber of Commerce all over the United States have trusted Village Profile to produce their Membership Directories, Community Profiles, Visitor Maps and Publications, Economic Development magazines and Chamber of Commerce Maps. Contact John at (800)-600-0134 x239.

#lovemychamber Missouri - The Return on Investment on my Chamber Dues --- Every Tuesday - Reason #6 - The Business Resource Guide - Warrenton Chamber of Commerce

The Warrenton Area Chamber of Commerce (Missouri) provides its chamber members with a quick reference guide that is built on the stages of business development needs. Included are more than 15 of the best business websites in the U.S. All of the information outlined below is more extensively covered in the Warrenton Chamber of Commerce Business Resource Guide.

Starting Your Business

Missouri Business Portal: Single point of entry for business registration, filings, licenses and permits for doing business in Missouri. - www.business.mo.gov
Missouri Business  Development Program: Helps Missouri's entrepreneurs succeed in private enterprise. - www.missouribusiness.net
Missouri Business Resource Library: Documents and links that address the concerns of small business. www.missouribusiness.net/library
Missouri Department of Economic Development: Resources and opportunities for businesses and communities.  - www.missouridevelopment.org
SBA (Small Business Administration):  Resources and links to program and services to help your business grow and succeed. www..sba.gov/smallbusinessplanner
SCORE (Service Corps of Retired Executives): A non-profit association dedicated to educating entrepreneurs and the formation, growth and success of small business nationwide. www.score.org
Warrenton Area Chamber of Commerce: Your local point of contact and resource clearinghouse for local business needs. Contact Jan Olearnick, Executive Director - www.warrentoncoc.com

Maintaining your Business

Missouri Career Center: Warrenton - recruitment assistance, interviewing facilities, and access to other valuable business services. www.missouricareersource.co
Employment and Labor Law Guide: Resources that will help you understand federal and state labor laws. www.business.gov/guides/employment/
Missouri Department of Labor Business Resources: Includes topics such as: Unemployment Insurance, Worker's compensation, workplace safety, discrimination and labor law and seminars/training. www.dolir.mo.gov/businesses.htm
University of Missouri Extension: Business programs help Missouri's entrepreneurs succeed in private enterprise. Contact Shelly Bush-Rowe, Community Development Specialist, MU extension.

Growing Your Business

MERIC (Missouri Economic Research & Information Center): - The research division of the Missouri DED. www.missourieconomy.org
OSEDA (Office of Social and Economic Data Analysis): partners in the analysis of social and economic data in ways that contribute to improvements in the economic and social well-being of people and communities. www.oseda.missouri.edu
Small Business Marketing Links: Missouri Business Development Program Web site. www.missouribusiness.net/library/marketing.asp
Small Business Finance Links: www.missouribusiness.net/library/finance.asp
Business.gov: Official business link to U.S. Government - www.business.gov
Missouri Chamber of Commerce and Industry: http://mochamber.com
Warrenton Area Chamber of Commerce: Contact Jan Olearnick, Executive Director, warrentoncoc.com

The Value Proposition - Chamber annual dues: Around $250. Value of the chamber Resource Directory benefit #6 with no other participation in the chamber; $500 - Return On Investment Features #1-#6 = $3350; Total Return On Investment for Chamber Membership - 1340%.

Sources: Multiple, including the Warrenton, Missouri Business Resource Guide, 2008

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John Dussman is Midwest Manager for VillageProfile.com, working with chambers in Arkansas, Illinois, Indiana, Kentucky, Michigan and Missouri. More than 1500 Chamber of Commerce all over the United States have trusted Village Profile to produce their Membership Directories, Community Profiles, Visitor Maps and Publications, Economic Development magazines and Chamber of Commerce Maps. Contact John at (800)-600-0134 x239.