Fwd: The Lender Advantage Newsletter (August 2014)

---------- Forwarded message ----------
From: Small Business Administration <news@updates.sba.gov>
Date: Thu, Aug 28, 2014 at 1:42 PM
Subject: The Lender Advantage Newsletter (August 2014)
To: iammejtm@gmail.com

Having trouble viewing this email? View it as a Web page. August 2014 The Lender Advantage Newsletter A publication of the St. Louis District Office If you have further questions on any of the items mentioned in this newsletter, please contact Tom Daiber, Bill Vickery or Bob Newman. The 2014 Resource Guide has been published and is available for download. The resource guide provides information about programs, resource partners and other tips for opening and running a small business. Verification of Financial Information to Tax Transcripts Prior to submitting an application for an SBA loan, lenders must obtain income tax return transcripts from the IRS.  The lender must verify the transcripts to information provided by the borrower and used by the lender to evaluate repayment of the loan.  For delegated lenders (PLP or SBA Express), the transcripts must be obtained and verified prior to first disbursement. > Read more Electronic Submission of ARC Loan Payment Using Pay.gov SBA Form 172 The capability for lenders to make America's Recovery Capital (ARC) loan payments now exists on the SBA Form 172, Transaction Report on Loans Serviced by Lenders. As a reminder, it is mandatory for lenders to submit payments electronically using the U.S. Treasury website Pay.gov per SBA Procedural Notice 2000-766.  All ARC payments must therefore now be submitted using the Form 172 in Pay.Gov, and SBA will not accept ARC payments by any other method. > Read more Small Business Loan Credit Scoring The SBA began using credit scoring in June 2012 under the Small Loan Advantage Program and since January 2014 credit scoring has been used on all 7(a) loans up to $350,000 (excluding SBA Express and Export Express). The SBA credit scoring tool uses the FICO® Small Business Scoring Service® product (SBSS) to expedite credit decisions. It draws on multiple data sources and more than 100 combinations of consumer and business analytical models to help streamline the loan approval process. The overall statistics on SBA's $60 billion-plus portfolio show that businesses with scores at, or above the designated cut-off have had very good payment history. > Read more United States Government Bought $83 Billion from Small Businesses Last Year The federal government is the largest buyer of goods and services in the world and over the last five years has awarded $459 billion in contracts to small businesses. In fiscal year 2013, 23.4 percent of all federal contracts went to small businesses translating into more than $83 billion dollars of revenue for the small businesses. The purchase of goods and services by the federal government from small businesses help these entrepreneurs get the revenue they need to grow and create jobs.  Small disadvantaged business concerns and small businesses located in distressed urban and rural communities, as well as women-owned and service-disabled veteran-owned small businesses also have access to federal set-aside contracts.  Please contact the SBA as we would be happy to assist your clients with identifying opportunities to apply for government contracts which could create opportunities for you as their lender to meet their related financing needs. Learn more about how the SBA works with federal departments concerning their small business prime contracting goals. Connect with us for news and resources RESOURCES Active Lender List for Eastern Missouri (Please make sure the listing for your bank is correct.) Phone and Resource Partner List SBA Website for Lenders Recent SBA Lending Activity St. Louis District Office Robert A. Young Federal Bldg. 1222 Spruce St. Suite 10.103 St. Louis, MO 63103 314-539-6600 Email: stlouis@sba.gov Southeast Missouri Douglas C. Greene Center for Innovation and Entrepreneurship 920 Broadway, MS0125 Cape Girardeau, MO 63701 573-225-9407 Central/Northeast Missouri Small Business & Technology Development Center 500 E. Walnut Street Suite 103 Columbia, MO 65201 636-358-5941 E-mail: stlouis@sba.gov http://www.sba.gov/mo/stlouis St. Louis District Office Directory Dennis Melton, District Director Phone: 314-539-6607 Email: dennis.melton@sba.gov Maureen Brinkley, Deputy District Director Phone: 314-539-6609 Email: maureen.brinkley@sba.gov Tom Daiber, Lead Lender Relations Specialist Phone: 314-539-6614 Email: thomas.daiber@sba.gov Bob Newman, Senior Area Manager Phone: 314-539-6611 (St. Louis) 636-358-5941 (Cell) Email: robert.newman@sba.gov Bill Vickery, Senior Area Manager Phone: 573-225-9407 Email: bill.vickery@sba.gov     SUBSCRIBER SERVICES: Manage Your Preferences  |  Unsubscribe  |  Help STAY CONNECTED: All SBA programs and services are provided on a nondiscriminatory basis | Reasonable accommodations will be made if requested at least two weeks in advance  This email was sent to iammejtm@gmail.com by Small Business Administration (SBA) · 409 3rd St, SW · Washington DC 20416 · 1-800-827-5722

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Jeremy Tobias Matthews