Jobs Act cuts loan fees for Vermont small businesses

first_imgOn September 27, 2010, President Obama signed the Small Business Jobs Act of 2010 into law, putting more resources into the hands of small businesses so they can create more jobs and retain those they already have.  The Act will make a tangible difference to scores of Vermont businesses waiting in the US Small Business Administration’s loan queue. After the Recovery Act passed in February of last year, the SBA was able to help small businesses get Recovery loans by reducing or eliminating loan fees and increasing the SBA-backed guarantee to 90 percent.  When the funds for these loans were exhausted, SBA activated a Recovery Loan Queue as a sequential ‘holding tank’ for businesses interested in waiting for the availability of additional funds, either through the cancellation of previously-approved loans or through Congressional extension of Recovery Act programs.  With the Jobs Act in place, an additional $14 billion in SBA loan programs will be available to eligible small businesses once the agency receives its funding.  The Jobs Act will have an immediate impact on Vermonters waiting in the loan queue, one of whom is a Northeast Kingdom entrepreneur with a start-up loan of $750,000, and a fee savings of $23,625. Another Vermont business patiently waiting for his loan will be pleased to know he is saving nearly $5,000 in loan fees.  Thomas A. Coleman, DDS, of Brandon, Vermont said the purpose of his loan will be ‘to repay my accounts payable and to keep my employees on the payroll.’  Coleman has five part-time and four full-time employees.  In practical terms, the $5,000 he will save can be redirected towards working capital for any number of needs, such as purchasing equipment or retaining employees. The multi-faceted Jobs Act also makes a permanent increase to SBA’s maximum loan amount, from $2 million to $5 million.  ‘With the Act’s higher loan limits, higher size standards and reduced or eliminated fees, more of Vermont’s small businesses will now be eligible for and benefit from SBA loan program,’ said Darcy Carter, District Director, SBA Vermont District Office.Source: SBA. 10.1.2010last_img read more

U.S. coal companies, analysts expect strong financial headwinds to continue through 2020

first_img FacebookTwitterLinkedInEmailPrint分享S&P Global Market Intelligence ($):“Flat is the new up,” one analyst said as coal companies reported another brutal quarter for investors in the space while domestic markets continued on a path of secular decline and export markets took a turn for the worse.For the last five years, the S&P 500 has consistently outperformed the SNL Coal Index, and the gap continues to widen through 2019. While coal equities struggled to win the favor of investors even when robust export markets offered coal companies an outlet to sell their fuel, share prices are plummeting as those opportunities diminish.“Export markets are challenging right now, and there is a widespread fear amongst investors that all U.S. coal producers will have to retreat significantly from the export markets, resulting in significant EBITDA declines,” Consol Energy Inc. President and CEO Jimmy Brock said on a Nov. 5 earnings call. Brock added that Consol was bracing for continued weak pricing through 2020, but remained optimistic about a potential recovery.Mark Levin, an analyst with Seaport Global Securities LLC, praised Consol’s assets and the product it sells in a Nov. 5 note. Levin said that, unlike many of its peers, the company managed to avoid revising its guidance. Since “flat is the new up,” Levin chalked up the company’s performance, in line with expectations, to the “victory column.”Share prices declined at major U.S. coal companies despite aggressive share buyback programs rolled out by most major U.S. coal producers in recent years. Staring down a diminishing domestic market, weaker export markets and the political uncertainty of a 2020 election, Levin recently encouraged the coal industry to “hoard cash.”Levin said management teams talking on third-quarter earnings calls sound like they are bracing for recent trends — near-record-low domestic consumption, met coal prices flirting with three-year lows, and overall weak coal export volumes — to continue into 2020. If a company has an unsustainable quarterly distribution or a non-essential project, it is time to cut it, he added.More ($): Already flailing through 2019, coal equities dove even lower in third quarter U.S. coal companies, analysts expect strong financial headwinds to continue through 2020last_img read more

Manchester City talent-spotter Sam Fagbemi set to follow Mikel Arteta to Arsenal

first_imgManchester City talent-spotter Sam Fagbemi set to follow Mikel Arteta to Arsenal Advertisement Advertisement Oxford v Man City: Pep Guardiola press conferenceTo view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Play VideoLoaded: 0%0:00Progress: 0%PlayMuteCurrent Time 0:00/Duration Time 10:16FullscreenOxford v Man City: Pep Guardiola press conferencehttps://metro.co.uk/video/oxford-v-man-city-pep-guardiola-press-conference-2072148/This is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.City manager Pep Guardiola says Arteta has been ‘transparent and honest’ with him amid speculation of an impending move to Arsenal.‘I’ve said many times, he’s an incredible person, a good manager, work ethic, that’s why he’s with us,’ Guardiola said on Tuesday.‘He’s talking with Arsenal so I don’t know what’s going to happen.‘He was incredibly transparent and honest with me.’MORE: RB Salzburg chief offers transfer advice to Man Utd target Erling Haaland Comment Metro Sport ReporterTuesday 17 Dec 2019 9:45 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link4.1kShares Arsenal are set to announce Mikel Arteta in the coming days (Picture: Getty)Arsenal are reportedly close to completing a deal for Manchester City talent-spotter Sam Fagbemi.The Gunners have been in disarray both on and off the pitch this season and Freddie Ljungberg has failed to turn results around as the club’s interim head coach following Unai Emery’s dismissal.However, it’s understood Mikel Arteta will be announced as Arsenal’s new manager imminently – and the Spaniard will not be the only new recruit making his way down from the Etihad.The Daily Mail claims that Fagbemi, 25, who currently heads up City’s scouting strategy in the south, has received an offer to play a leading role in Arsenal’s youth recruitment approach.ADVERTISEMENT Ljungberg reacts to Arsenal’s 3-0 thumping by Man CityTo view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Play VideoLoaded: 0%0:00Progress: 0%PlayMuteCurrent Time 0:00/Duration Time 8:48FullscreenLjungberg reacts to Arsenal’s 3-0 thumping by Man Cityhttps://metro.co.uk/video/ljungberg-reacts-arsenals-3-0-thumping-man-city-2071064/This is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.Arsenal’s hierarchy have been impressed with the feedback they have received on Fagbemi and discussions between the two parties are at an ‘advanced’ stage.AdvertisementAdvertisementThough the Premier League champions are desperate to keep hold of Fagbemi, it’s likely an agreement will be wrapped up with Arsenal over the coming days.Fagbemi helped City steal Sam Edozie, Darko Gyabi, Josh Wilson-Eshbrand and Ben Knight from under Arsenal’s nose during the summer.The north London giants are also looking at Wolves’ recruitment specialist Phil Antwi as another potential addition to work alongside academy manager Per Mertesacker.last_img read more