The 504 Report - May 2009

Current Rates
May Bond Sale Rate: 5.293% (20 year fixed rate)
	The May rate is very attractive! At 5.174%, the April rates were the lowest level since the 1986 inception of the 504 program! Our bond strategist worked with SBA and the bond group to make our product TALF eligible effective with the April sale and retroactive to the January, 2008 sale. They believe this has resulted in a 25 basis point reduction in the rate over other comparable non-TALF products. With the elimination of 2% in fees and the drop in the 20 year rate, it’s a deal that’s too good to pass up!!

May 2009

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BFG Employee wins SBA Award!

We are excited and pleased to announce that Wayne Williams, our Senior Lending Officer, has been recognized by the Washington Metro Area SBA District Office as their 2009 Financial Small Business Champion of the Year. The award recognizes advocacy for and service to small business beyond one’s financial services occupation. Wayne has been with Business Finance Group since 1997, and we have had the opportunity to see first hand his dedication to helping his small business customers. Outside of the office, Wayne is well known for his willingness to help with educational events, conferences, and other opportunities to help the small business community, the small business lending community, and our friends at the Small Business Administration. Congratulations to Wayne and we are delighted to see him recognized for this well-deserved award!

Wayne will receive his award on Thursday, June 4th at the Small Business Awards Breakfast Gala at the Hilton Mark Center – Terrace Ballroom in Alexandria, Virginia. We hope to see you there!

Senator Warner hosts Small Business Roundtable

On Thursday, April 16th, Senator Mark Warner and the Small Business Administration hosted a Small Business Roundtable at the University of Virginia in Charlottesville. In addition to BFG’s President, Sally Robertson, three of the company’s 504 borrowers were invited to share their thoughts on how the economy and economic stimulus package are impacting their small businesses. Senator Warner commented on the necessity of the American Recovery and Reinvestment Act due to the unprecedented financial crisis. He expressed his hope that small businesses would lead us towards recovery partially as a result of the bill’s provisions. Business owners had questions on taxes, SBA policies, ways to access working capital, and small business contracting issues. The discussion was lively, and Senator Warner’s time and attention were appreciated by the audience.