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USDA Business and Industry Guaranteed Loan Program – Noteworthy Revisions For Community Banks

The Business and Industry (B&I) loan program administered by the United States Department of Agriculture (USDA or Agency) guarantees loans by qualified lenders to benefit rural businesses. For eligible projects, community banks can obtain an 80% guarantee for loans up to $5 million, a 70% guarantee for loans between $5 million and $10 million and a 60% guarantee for loans between $10 million and $25 million. The B&I guaranteed loan program allows lenders to expand their loan portfolio, obtain a deficiency guarantee, increase earnings by participating in the secondary market, make loans in smaller communities with traditionally lower collateral values and extend loans above their legal lending limits.

For each loan, lenders submit a detailed guarantee application to the Agency office in the state where the project is located. Approval or denial decisions generally take several weeks. Projects eligible for B&I financing include business acquisitions, commercial real estate purchases, startup costs and working capital, machinery and equipment purchases and some refinances.

On December 17, 2008, the USDA published a new interim rule pertaining to the B&I loan program in the Federal Register. Effective October 1, 2009, the new rule is designed to streamline the application, accelerate the guarantee approval process and expand the types of eligible projects. The Agency ultimately decided to abandon the new rule and instead focus on working within the existing regulatory framework to improve the B&I loan program.

Under the previous rule, the B&I loan program required lenders to compile burdensome applications and to deal with lengthy approval timelines and limited loan features. For example, a common lender complaint has been the laborious guarantee application process. For every loan under the previous regulations, B&I lenders had to submit to the local Agency all of their underwriting and loan approval documents, at least three B&I application forms, the draft loan agreement, copies of loan origination and servicing policies and procedures, and details concerning lending history, experience and their relationship with regulators. The Agency also awarded guarantees on a “priority scoring” basis, which gave loans in particularly rural areas with compelling purposes priority over otherwise eligible loans that earned a lower “score”. An approval or denial decision for lower scoring loans could take months from the application submission.

The USDA aims to reduce these drawbacks with the revised rule. The new rule attempts to streamline the original application process. Lenders must apply to participate in the guaranteed loan program by submitting background information such as descriptions of lending history and experience, policy and procedures and documentation concerning regulatory compliance (7 CFR 5001.9). Although lenders had to submit this information under the old rule, they are now permitted to submit summaries instead of copies of their policies and procedures (§5001.9(a)(1)). Once approved by the agency, lenders will no longer have to submit this background information when applying for loan guarantees (§5001.9(b)(4)). The revised rule also reduces the number of guarantee application forms (§ 5001.12(a)) and eliminates the draft loan agreement (§5001.34). In addition to simplifying the application process, the new rule endeavors to reduce the guarantee approval timeline.

Two changes aim to accelerate the guarantee approval process. The Agency has eliminated its “priority scoring” system in favor of a simpler first-come-first-serve approach (§5001.103(f)(1)). Additionally, the Agency has created a preferred lender program (PLP) (§5001.9(d)). The benefits of obtaining PLP status include a ten day approval or denial decision (§5001.11(c)), a smaller guarantee application package (§5001.12(b)) and the opportunity to obtain preferred status in more than one state with a single PLP application (§5001.9(d)(2)). In addition to streamlining the application process, the Agency has introduced some new loan features to the B&I loan program.

B&I guarantees may now be issued for additional uses and purposes. Under the previous regulations, lines of credit were ineligible. Lines of credit are now eligible when used for annual operating/business expenses, debts advanced for the current operating cycle, scheduled non-delinquent term borrower debt or closing costs (§5001.103(b)(2)(xix)). Projects involving leasehold improvements and the purchase of mixed use commercial and residential buildings are also now eligible for B&I guarantees (§5001.103(b)(2)(xviii, xx)). Another new feature removes the prohibition that interest rates change no more often than quarterly, and allows lenders to set a variable rate that adjusts as often as daily (§5001.31(a)). These new features allow lenders to obtain a valuable B&I guarantee for projects that previously were ineligible.

Although these features are now available to lenders, some revisions to the rule are less clear and useful tools have been eliminated. For example, the Agency has replaced the proposed cash equity criterion with a debt-to-tangible net worth ratio criterion (§5001.6(c)), but has failed to define this calculation other than referring to Generally Accepted Accounting Principles. Additionally, the rule eliminates the Agency’s limited authority to issue 90% guarantees. Again, the Agency ultimately decided to abandon the new rule and instead focus on working within the existing regulatory framework to improve the B&I loan program.

How to Get Started on Affiliate Business Internet Marketing Online Promotion

If you’re one of the thousands of people who want to learn how you can get started on affiliate business Internet marketing online promotion, then this is the perfect short article for you. In order to become successful in affiliate marketing, the key is to give yourself the upper advantage through education. This way, you will not just learn the ways on how you can effectively market products as an affiliate, you will also be able to troubleshoot the system if ever problems arise.

Probably the number one reason why many online businesses have chosen to capitalize on affiliate marketing is the fact that it’s now attainable to become rich even without having to invest a large amount of capital. Just think, you won’t have to exert any effort into conceptualizing what kind of products you should sell or what kind of advertising techniques you should choose as more often than not, affiliate programs usually have their own systems for you to follow. As long as you focus on the program and follow their set rules, there’s no reason why you won’t become successful in this arena in the long run. Here are 3 tips on how you can get started on affiliate business Internet marketing online promotion.

Be an expert on spotting legitimate programs

Before applying to become an affiliate, make sure that the program that you have chosen is legitimate. Do your own background search on the companies first so that you can avoid becoming scammed. Check for any online reviews from other affiliates to get an idea on what kind of support they are capable of giving. There are many affiliate programs out there that can only promise and not deliver any goods. Getting into this mess will not just cost you money, but also a reputation as well.

Stick to the system

Once you’ve found a legitimate program to join, make sure that you follow their system to the last detail. Good affiliate programs shouldn’t just provide you with products or services to sell, but also a great marketing strategy that will be able to take care of your promotional concerns as well. This way, you get a complete package without having to invest so much time or money into the endeavor. It’s really easy to earn money on the Internet, it’s just a matter of knowing which system will help you go about it.

Learn from the best

Last but not the least, if you want to be successful as a premier affiliate business Internet marketer, you should take the lead of those who have come before you by learning the techniques of the very best in the league. You just need to take note of the facets that has worked for them perfectly so that you can find ways on how you can tailor it to work on your online endeavor as well.

At the end of the day, the trick to having a successful affiliate business Internet marketing online promotion outfit is by employing a low cost start up approach to your operations. As long you follow the tips that you have read here, you will be able to successfully start your own operation in no time.

The Benefits of Business Money Market Accounts

Business money market accounts are investment tools that give companies easy access to their funds while offering a very reasonable rate of return. But this is not the only benefit of taking this investing route. Let’s look at a few others:

Tiered Account Rates – Many banks offer the benefit of tiered account rates, which means the more cash you place in your account, the higher your interest rate will be. So as you add to your balance, you will be able to take advantage of a higher rate of return.

Liquidity/Check-Writing Privileges – Another benefit of using business money market accounts as one of your company’s investment tools is taking advantage of a liquid account. You will likely always have access to your funds, which would be available through your check-writing privileges.

No Minimum Transaction Amount – As a promotional tool, most financial institutions require no minimum transaction amount for your account. This definitely helps in cutting down your fees, making investing that much easier.

The above benefits are good reasons to take on an account for your company. But before you dive in, be sure to consider the following:

Possible limitations. There may be some limitations on the number of transactions you can make a month with some business money market accounts. For instance, you may not be able to make over 6 withdrawals without being penalized.

Fees/Minimum amount required. Some institutions may implement a minimum amount that is required to remain in your account at all times. For many, this amount is $5,000. If you fall below it, you may be accessed a monthly service fee.

With many other investment tools available for companies, business money market accounts are just one of the ways you can gain returns on your funds. But because they are so liquid and offer many of the privileges of a bank account, you can benefit well from making this one of the ways you choose to invest for your company.

Mens Fashion Accessories – A Guide to Mens Fashion Accessories

It may not seem as if there are a lot of mens fashion accessories out there, but in fact men make use of more accessories than they realize. An accessory is an item or piece of clothing that you don’t need to wear, but it does accent your look and can even serve a purpose. So fashion accessories are even quite useful to a person in the course of day to day activities. There are all sorts of items that really are mens fashion accessories.

Watches

The wrist watch is not as common as it once was, but for a short period of time every man had a wrist watch and every man’s watch had a thick gold band or a leather one. The mens watch is still popular today and it comes in many forms to further prove its popularity and convenience.

Perhaps some of the most attractive mens wrist watches of today are platinum or stainless steel. The industrial look is in with guys. This even applies to some other forms of jewelry that men typically wear.

Jewelry

A man does wear jewelry and jewelry can be common mens fashion accessories. You’ll see plenty of dudes wearing necklaces, rings and earrings. Though these high fashion items are often a little bit heavier and more bulky than similar womens jewelry items.

As mentioned above, platinum and stainless steel are popular metals for men these days. You’ll also see white gold, silver and even wood used in some mens jewelry. Simple chains are still the best choice for mens necklaces. Earrings and rings can and are usually outrageous in design or simple and bold. There’s plenty of room in mens fashion for silly or unique statements.

Ties

The mens tie is probably the iconic mens fashion accessory. Its purpose has been lost to history, but the tie appears to have evolved from the tradition simple neck scarf. Now the tie is a fashion accessory must for dressy occasions and comes in all colors, patterns and sizes.

You’ll want to pick out at least three ties for yourself. One is plain dark blue or black for serious occasions, one in a color that suits you or that you like for parties, and one is just plain silly for that drunken Christmas party every year. If you have trouble picking out the tie that suits you, try going for a color that matches your eyes, so you’ll always be matched when wearing it.

Sunglasses

Another of the more commonly used mens fashion accessories are sunglasses. There’s a pair of glasses out there for every man. They come in so many different shades, shapes and styles these days it can be hard to choose though.

Typically men wear larger frames than women because it appears more masculine. This doesn’t mean a guy has to wear gigantic aviators. Pick the frame that best suits your image or the image you want to project about yourself. Plastic frames are more eye-catching so you’ll draw more attention. Metal frames are more refined and understated, they also appear to be a higher quality. Plastic frames also look more casual, unless you are going for the Men in Black look with solid black lenses.

There are always more mens fashion accessories to learn about, but these are the basic four. A man with a good watch, ring, tie and sunglasses is well placed in the world.

Wholesale Jewelry

Jewelry for everyday wear and as gifts are always timely. Wholesale jewelry may be classified into gold and platinum jewelry, often for special occasions, and costume or fashion jewelry, for everyday wear or for a particular suit. The major categories of jewelry are earrings, necklaces, anklets, bracelets, rings, brooches, and pins.

Some wholesale jewelry shops are family-owned and operated. Initially jewelry was sold via catalogue phone orders and trade shows, but these are now available in many websites. The wholesale jewelry on the web can bring products to its buyers faster, and often more efficiently too.

Wholesale fashion and costume jewelry, bridal and novelty jewelry, children’s jewelry, ethnic and traditional, or tribal jewelry is crafted in many countries. These include Korea, India, Mexico, Thailand, the Philippines, and the United States, and are sold from a few cents each to several hundred, or a thousand dollars for the costlier items. Including fashion jewelry watches, Hawaiian or Polynesian style jewelry, these are often handcrafted, and embellished with gemstones.

Wholesale jewelry can be simple, chunky, or elegant, using natural components available anytime. Materials used for jewelry range from the base metals including sterling silver to combined alloys, and leather and string for necklaces. Decorations are varied: from birthstones and gemstones, to crystals, to metal and plastic accessories. As we Go Green, natural components abound like agsam vine, wooden beads, coconut and kukui nut and other seed beads, horn beads, assorted natural beads in bright or pastel colors. You will find Mother of Pearls, freshwater pearls, stones, bone and bamboo getting to be more in demand-and jewelry shell boxes too!

Find wholesale jewelry for adorning the ears, neck, and wrist with matching sets of earrings, rings, and necklaces. Wood necklaces from the Philippines come in mahogany, narra, burr, oak, maple, walnut, and palms made into unique designs and cuts. These often come in shades of black and brown. These are said to be truly the essence of fashion today.

Pawnshop jewelry from Third world countries also speak of very high quality jewelry. Selections showcase bracelets, earrings, necklaces and brooches sold in retail at wholesale prices. If you are considering starting a business on wholesale jewelry, you can acquire many valuable, quality jewelry from Third World countries and resell for a substantial profit. You can do some work-at-home internet business and sell wholesale jewelry that people will come back for more. Some companies even drop ship for free, allowing you to market and collect orders while they do the rest for you.

If you want to help Third World countries, try the Asian Wholesale Jewelry Database for raw gems and ready-made jewelry. You will find beautifully crafted jewelry made by highly skilled craftsmen — at very low prices, because the people who create these works of art often live in extreme poverty. They do not know they are making masterpieces for the global market! You will not only help these people to earn, you will also discover that you can resell on retail internationally for so much more.