The 504 Report - August 2006

Current Rates
January Bond Sale Rate: 6.8% (20 year fixed rate)
	504 rates declined slightly this month, and remain below market. 90% financing makes it an unbeatable deal! Is your bank concerned that appraised values are stretched thin and may have peaked? The 504 program is a good way to share that risk and maintain your portfolio strength!
	2005 Annual Meeting

	Congratulations to Steve and the Craven family!

Craven Tire Company Wins SBA Small Business Award

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Steve Craven (Right), Owner of Craven Tire Company was named both SBA’s Region Three and the Washington Metro Area Family Owned Small Business of the Year. Steve’s father started the business in 1953. In 1980, Steve took over the business and has expanded to 7 locations in Northern Virginia generating over $15 million in annual revenues. Most impressively, Steve gives back to the community in many ways volunteering through Angel Flight. He donates his time and his plane to assist those in need of transportation for medical treatments. He has flown over 200 missions, including assisting with supplies for the Gulf coast disaster. Steve financed the Arlington location with a 504 loan from Business Finance Group.
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Staff Changes

With Rhonda Pointon’s decision to become a stay-at-home Mom, Wayne Williams has decided to return to the front line as a loan officer. Most of you dealt with Wayne both as a loan officer and as a problem solver and manager of our approval team. While we will miss Wayne’s support in the office, we know you will welcome his return to a lending capacity because of his expertise and high levels of service. This is a very exciting step for Wayne and for Business Finance Group.

BFG Adds Chief Credit Officer

We are very pleased to announce that Wayne R. Garcia has joined our staff as Chief Credit Officer. Wayne has over 30 years of banking experience most recently with Alliance Bank, BB&T, and F & M Bank. BFG has been pleased to present Wayne with Top Lender awards for the last four years, so you can be assured that he will not only understand the bank perspective, but Wayne is knowledgeable about 504 as well. We are very excited to have Wayne as part of our team!

Additional Expansion Approved

In an effort to serve all of your customers, Business Finance Group has applied for and been approved to provide 504 financing statewide in Maryland and in four West Virginia Counties (Morgan, Berkley, Jefferson, and Hampshire). We look forward to helping your customers with 504 projects in Virginia, the District of Columbia, Maryland or the Eastern Panhandle of West Virginia!