Fill and Sign the Standard Rental Agreement Fillable Massachusetts Form

U. S. Small Business Administration CARIBBEAN E-OUTLOOK INSIDE THIS ISSUE: SBA Enters Alliance with PR Trade and Export Co. 1 Message from the DD 2 Upcoming Lender Events 2 SBA Approves CFCU as New 7(a) Lender 3 SBA and CIAPR Hold 6th Annual Matchmaking 4 PRVI Loan Production 4 Caribbean E-Outlook is a publication of the U.S. Small Business Admini­ stration Puerto Rico and U.S. Virgin Islands Dis­ trict Office José R. Sifontes District Director March 2010 SBA ENTERS STRATEGIC ALLIANCE WITH PUERTO RICO TRADE & EXPORT COMPANY The U.S. Small Busi­ ness Administration and the Puerto Rico Trade & Export Com­ pany have signed a Strategic Alliance Memorandum, SBA Puerto Rico and Virgin Islands District Direc­ tor José R. Sifontes an­ nounced. The purpose of this alliance is to develop and foster mu­ tual understanding and a working relationship in order to strengthen and expand small busi­ ness development in Puerto Rico. “For some time now, the SBA and PRTE have been joined by the common mission of promoting economic development opportu­ nities for small busi­ nesses on the island,” Sifontes said. “Today we reiterate our com­ mitment to continue working together to­ ward our mutual goal of increasing knowl­ edge within the com­ munity of the resources Angelique F. Adjutant Editor Volume # 8, Issue # 1 To subscribe to this newsletter and other SBA publications visit http://web.sba.gov/list Helping small businesses start, grow and succeed. Your Small Business Resource Puerto Rico & U.S. VI 2 5 2 P o n c e d e L e ó n Av e . Suite 201 S a n J u a n , PR 0 0 9 1 8 787-766-5572 www.sba.gov/pr From the left: PR Trade & Export Deputy Director Rafael Marín, SBA District Director José R. Sifontes and Puerto Rico Secretary of Eco­ nomic Development José R. Pérez-Riera discuss the joint efforts set forth as part of the Strategic Alliance between both agencies. available to help small businesses expand their opportunities.” “With this alliance PRTE becomes a direct partner of the SBA, our collaborative ties grow even stronger, and we have the opportunity to offer our clients more alternatives, while at the same time making the benefits of both agencies more accessi­ ble to small and me­ dium-sized businesses. The development and strengthening of local businesses needs a foundation that pro­ motes an entrepreneu­ rial culture and expands opportunities to gener­ ate capital. These alli­ ances, in which re­ sources are joined by a common mission, are necessary initiatives to achieve this goal,” stated Puerto Rico Sec­ retary of Economic De­ velopment and PRTE Executive Director José R. Pérez-Riera. (Continued on page 3) Page 2 Puerto Rico & U.S. VI UPCOMING SBA LENDER EVENTS SBA Lender Roundtable April 8, 2010 9:00 AM Training: E-Tran April 20, 2010 9:00 AM MESSAGE FROM THE We are almost near the end of the second quarter of fiscal year 2010, and I couldn’t be more pleased to bring you this latest issue of our newsletter. If you take a look at our How to Become a PLP Lender April 28, 2010 9:00 AM 7(a) Application Process May 26, 2010 9:00 AM For locations, please call (787) 766-5519 / 766-5420. SBA TO District Director José R. Sifontes DISTRICT DIRECTOR loan production table on page 4, you will see that as of Feb. 28 we have approved a total of 176 loans for $27.8 million; these figures represent a 34 percent and 39 percent increase, respectively, over loans approved dur­ ing the same period last fiscal year. Clearly, our economy has started picking up. And, although we still have quite a journey ahead of us, I am confident that with the continued sup­ port of our participating lenders and resource par­ ents, we are sure to meet the goals we set forth when the year began. I look forward to hearing from all of you who work tirelessly on behalf of our small businesses, and who invest dedicated ef­ forts in support of our islands’ economic devel­ opment. Until the next time, H O N O R N AT I O N ’ S S M A L L B U S I N E S S D U R I N G N AT I O N A L SMALL BUSINESS WEEK 2010 The nation’s top entre­ preneurs will be hon­ ored at the U.S. Small Business Administra­ tion’s National Small Business Week events to be held May 23-25, in Washington, D.C. A series of events and educational forums will mark the 57th anniver­ sary of the agency and the 47th annual procla­ mation of National Small Business Week. More than 100 out­ standing small business owners from across the country will receive awards while gathering for three days at the city’s Mandarin Orien­ tal Hotel. They will meet with top agency officials, congressional representatives and na­ tional business leaders. The highlight of the celebration will be the announcement of the National Small Business Person of the Year. Men and women also will be recognized for their involvement in disaster recovery, gov­ ernment contracting, and their support for small businesses and entrepreneurship. Awards also will be presented to SBA part­ ners in financial and entrepreneurial devel­ opment, including best SCORE Chapter, Small Business Development Center and Women’s Business Center during 2009. Counselors to Amer­ ica’s Small Business; VISA; Ford; Admin­ istaff; Google; eBay; Raytheon; Cbeyond; Intuit; Northrop Grum­ man; Lockheed Martin; Verio; NADCO and NAGGL. The State Small Busi­ ness Award Winners and recipients of the Champion and other Entrepreneurial awards are nominated by local trade associations, chambers of commerce, other business organi­ zations and government agencies. Co-Sponsors include: SCORE – Media outlets are en­ couraged to cover Na­ tional Small Business Week events, and can register online as of March 1. Additional information on the Small Business Week 2010 events is available at www.nationalsmallbusi nessweek.com. C a r ib b e a n E- O u t l o ok (Continued from page 1) As part of the strategic alliance, the SBA and PRTE will keep each other abreast of pro­ grams and services available to small busi­ nesses, join in training and outreach activities, and work to expand knowledge of and ac­ cess to small business resources and technical assistance. The alliance will remain in effect for a period of two years. During fiscal year 2009, the SBA guaran­ teed close to $49 mil­ lion in loans to small businesses in Puerto Rico, helping create and/or retain 3,372 jobs. By maintaining and strengthening its relationship with other commerce organiza­ tions such as PRTE, the SBA expands its reach to more potential small businesses, and further promotes the island’s economic development. The SBA also holds strategic alliances with the University of the East and the Puerto Rico Minority Supplier Development Council. For information on how your organization can work with the SBA, please call (787) 766­ 5572. Page 3 SBA APPROVES CARIBE FEDERAL CREDIT UNION AS NEW 7(A) LENDER IN PUERTO RICO The U.S. Small Busi­ ness Administration has given authority to Caribe Federal Credit Union to provide finan­ cial assistance to small businesses under SBA’s 7(a) Loan Guar­ anty Program. “We are proud that an institution founded by federal employees has come to the rescue of small businesses, by applying for the author­ ity to provide financing with SBA’s guaranty,” said SBA Deputy Dis­ trict Director Ana Matilde del Toro. At a signing ceremony at SBA facilities in Hato Rey, SBA and CFCU officials agreed to work together in fos­ tering the island’s eco­ nomic development, by promoting opportuni­ ties that result in in­ creased small business creation and expansion. Caribe Federal is the fourth credit union to become a 7(a) lender in Puerto Rico. It joins Cooperativa de Ahorro y Crédito de Aguada, Mauna-Coop and Co­ operativa de Ahorro y Crédito Dr. Manuel Zeno Gandía. “In these trying eco­ nomic times, it is en­ couraging to see a new point of access to our loan programs, and that is exactly what Caribe Federal now repre­ sents,” del Toro added. The 7(a) Loan Guar­ anty Program is the SBA’s primary busi­ ness loan program. It provides long-term fi­ nancing to acquire equipment and machin­ ery, inventory, fixtures and accessories, and to make renovations, pur­ chase land, build new buildings, purchase ex­ isting businesses, and for the repayment of certain debts. The SBA can guarantee up to 85 percent on loans up to $150,000 and up to 75 percent on loans higher than $150,000 up to $2 million. Under the American Recovery and Reinvest­ ment Act, the SBA may guarantee up to 90 per­ cent and temporarily waive fees normally paid by the borrower. To apply for a 7(a) loan, applicants must meet the small business size criteria established by the SBA. For more information on small business size standards, visit www.sba.gov/ contractingopportuni­ ties/owners/basics/ whatismallbusiness/ index.html. Caribe Federal Credit Union President Emilio Colón and SBA Deputy District Director Ana Matilde del Toro shake hands after signing off on SBA’s approval of CFCU as a new 7(a) participating lender. C a r ib b e a n E- O u t l o ok Page 4 PR & VI LOAN PRODUCTION AS OF FEB. 28, 2010 LENDER LOANS $$$ VALUE 7(A) LOAN GUARANTY PROGRAM Banco Popular de Puerto Rico 45 $4,645,700 Banco Santander Puerto Rico 25 $866,400 Banco Bilbao Vizcaya Argentaria 22 $1,262,600 Scotiabank of Puerto Rico 13 $919,500 FirstBank* 13 $664,400 Borrego Springs Bank, N.A. 13 $560,000 Economic Development Bank for PR 10 $2,604,900 Eurobank 1 $400,000 TOTAL 7(A) LOANS 142 SBA TO HOLD SIXTH ANNUAL MATCHMAKING EVENT WITH CIAPR The U.S. Small Business Ad­ ministration will conduct its Sixth Annual Government Contracting Matchmaking Event with the Puerto Rico Engineers and Land Survey­ ors Association (CIAPR by its Spanish acronym) on Fri­ day, April 16, 2010 at CIAPR facilities in Hato Rey. $11,923,500 CERTIFIED DEVELOPMENT COMPANY PROGRAM PYMES Financial Partners Inc. 13 $6,460,000 COFECC 12 $5,838,000 Marketing Small Business Finance Corp. 7 $2,042,000 Puerto Rico Business Development Corp. 1 Joining this year’s matchmaking event will be FEMA, the General Services Ad­ ministration, the Housing and Urban Development, the De­ partment of Veterans Affairs, and the U.S. Army Corps of Engineers, among others. The Sixth Annual Business Matchmaking, which is free of charge, will take place at CIAPR facilities, located at #500 Antolín Nin St. in Hato Rey, starting at 8:00 a.m. For more information and to reg­ ister, please call (787) 766­ 5420 / 766-5011, or write to ivonne.candelario@sba.gov . $1,179,000 North Puerto Rico Local Development Co. Inc. 1 $416,000 TOTAL CDC LOANS 34 $15,935,000 GRAND TOTAL 176 $27,858,500 * Includes loans in VI SBA’s participation in this Cosponsorship is not an endorsement of the views, opinions, products or services of any cosponsor or other person or entity. All SBA programs, services and cosponsored activities are extended to the public on a nondiscriminatory basis. Reasonable arrangements for persons with disabilities will be made if requested at least two weeks in advance. Contact: Mr. Rodolfo F. Mangual at (787) 758-2250, Ext 217. Cosponsorship Authorization #: 10-0252-58.