Kitty Rich, MBM, BSB/Finance

This post educates on the versatility of SBA loans for various business expenses. SBA loans can cover start-up costs, remodels, expansions, real estate purchases, equipment, construction, working capital, and more. Learn more about these benefits at https://lnkd.in/e7KxWZV6.

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Several people have been asking me what the right structure for their business is. Here is some insightful information to help you make that decision.

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Mortgage Rate Outlook: The 30,000-foot view from Michael Ferraro, President, Mortgage Markets CUSO, LLC Last Week: Mortgage News Daily reports that last week was action-packed for the housing and mortgage market. Wednesday's Fed announcement was the highlight, but we also got several economic reports that caused rate volatility. Thankfully, it was mostly the good kind. This Week: Mortgage interest rates were mostly down compared to a week ago, according to rate data compiled by Bankrate: ·        30-year mortgage rate slides, -0.02% ·        15-year fixed mortgage rate moves down, -0.09% ·        5/1 ARM rate climbs, +0.20% ·        Jumbo mortgage rate retreats, -0.02%   The average 30-year fixed-refinance rate is 7.30 percent, down 4 basis points from a week ago. A month ago, the average rate on a 30-year fixed refinance was lower at 6.98 percent. What’s Impacting Rates Now? A sideways week: Reasons for rate movement are in limited supply this week, likely leading to a more choppy and sideways rest of the week. You’re in the Loop!  A selection of insights on what’s happening in the mortgage industry: Mortgage job cuts slow for market's peak season The industry hasn't been sure how much of a lift they'd get this spring but a broader slowdown in hiring may help to lower financing costs. Cash-stretched new homebuyers are drawing a line at fixer-uppers Of about 1,400 resale agents nationwide surveyed by John Burns Research & Consulting, two-thirds said listings showed deficiencies in at least four different areas, including outdated kitchens and bathrooms. Mortgage lenders loosen credit but are weary for the future Originators increased program offerings for the fifth consecutive month, but overall credit availability remains tight, the Mortgage Bankers Association said.

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The SBA 7(a) loan can be a game-changer for your business! With flexible terms, lower down payments, and funds for working capital, equipment, or real estate, it’s a smart way to fuel growth. 💼 #SmallBusiness #SBA7A #BusinessLoans #Growth

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🌟 Unlocking Business Potential with SBA 7(a) Loans for Tenant Improvements! 🌟 Is your business ready to expand or upgrade its space? Consider an SBA 7(a) loan for tenant improvements. Here’s why: Affordable Financing: SBA 7(a) loans offer competitive interest rates and longer repayment terms, making it easier to manage cash flow while investing in your business. Flexibility: Whether you’re revamping office space, upgrading retail areas, or enhancing restaurant interiors, these loans can cover a wide range of improvement projects. Increased Property Value: Upgrading your business premises can boost property value and appeal, attracting more customers and increasing profitability. Enhanced Productivity: A well-designed workspace can improve employee morale and productivity, fostering a positive work environment. Customizable Solutions: Tailor improvements to meet specific business needs, ensuring your space aligns with your brand and operational goals.Take advantage of the SBA 7(a) loan program to create a space that supports your business growth and success. 🌟 Have questions? Let's connect and explore how an SBA loan can help with your tenant improvements. #BusinessGrowth #SBA7aLoan #TenantImprovements #SmallBusiness #CommercialRealEstate #BusinessExpansion #Entrepreneurship

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Join me for my upcoming webinar, Strategic Planning for Your Community Bank – It’s All About Your Strategy!, on July 30th from 10:00-11:30 am CT with ICBA. Register now at https://lnkd.in/gkrwQ28x! Your institution is unique so your strategic plan should be unique as well. The environment for community financial institutions has changed drastically in the past 5 years – especially in the aftermath of the Pandemic, new and emerging technologies, evolving consumer preferences, market shifts, and the recent bank failures. Therefore, your Strategic Plan must be a fluid document. Whether your institution lacks a cohesive strategy, or just wants to review existing plan(s), this webinar will address questions including: ✅ What is your vision for the future of your institution? ✅ Do your employees know your vision, and can they articulate it? ✅ Does the culture and brand of your institution (everything from your electronic signature on your emails to the look of your lobby) reflect the vision of where you want to take your institution? ✅ Do you know your risks—the risks that are unique to your institution? ✅ Do you have the right people, and are they in the right places to fulfill the vision of your institution? After this Webinar you’ll be able to: ✅ Clarify your vision, mission, and core values ✅ Learn the importance of a clearly defined strategic plan structure ✅ Identify key components common to successful strategies ✅ Understand the role of enterprise risk mitigation and management in an institution’s strategic plan ✅ Identify and implement four key growth strategies ✅ Establish “best practices” with board governance ✅ Develop and manage the strategic planning and implementation process in your institution ✅ Conduct a Strategic Risk Assessment for New Initiatives You will walk away with tools and ideas to: ✅ Integrate your Enterprise Risk Management Program into your Strategic Plan ✅ Integrate your Talent Management Program into your Strategic Plan, and ✅ Ensure your Strategic Plan doesn’t sit on the shelf and gets implemented. ✅ Identify and implement four key growth strategies. See you there! #communitybanking #strategicplanning #strategy

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Ready to start your journey toward first-time home ownership? One of the first steps is putting together your down payment—and these grants may be able to help.

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📣 Important Update for Florida Residents! 📣 Exciting news! Governor Ron DeSantis has signed House Bill (HB) 7073 into law, which brings significant changes to the "documentary stamp tax" on reverse mortgages. 💡 What This Means for You: Effective July 1, this change could save you a considerable amount in closing costs on a reverse mortgage. No more paying documentary stamp taxes on money you don't have access to! To learn more about how this new law might affect your reverse mortgage plans, feel free to reach out. I am here to help! 🤝 #FloridaResidents #ReverseMortgage #NewLaw #HB7073

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In need of construction lending? We can help with that! Let's talk about how an SBA loan can help you. #SBA7a #SBA

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Just finished the course “Nonprofit Fundraising: A Beginner’s Guide” by Fundraising Academy ! Check it out: https://lnkd.in/gQ3r4sDv #fundraising #nonprofitmanagement.

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Mortgage Rate Outlook: The 30,000-foot view from Michael Ferraro, President, Mortgage Markets CUSO, LLC Last Week: Mortgage News Daily reports that prices of mortgage-backed securities were responsible for the rebound of mortgage rates at the end of last week. Apart from those five days, rates are still at the lowest levels in six months and upcoming economic reports are more likely to set the tone for rates going forward.  This Week: Mortgage interest rates fell on all loan terms from a week ago, according to Bankrate data: ·        30-year mortgage rate eases, -0.05% ·        15-year mortgage rate moves lower, -0.12% ·        5/1 adjustable-rate mortgage trends down, -0.04% ·        Jumbo mortgage interest rate eases, -0.02%   The average 30-year fixed-refinance rate is 6.88 percent, down 3 basis points compared with a week ago. A month ago, the average rate on a 30-year fixed refinance was higher at 6.96 percent. What’s Impacting Rates Now? The data, not the politics: Political developments over the weekend had no discernible impact on the rate landscape in the short term. The second half of this week brings greater risks of volatility following Treasury auctions and scheduled economic data. You’re in the Loop!  A selection of insights on what’s happening in the mortgage industry: Dueling economic visions come into focus in 2024 campaign Vice President Harris' surprise elevation to the top of the Democratic ticket and the ascent of Ohio Sen. J.D. Vance to be the Republican vice-presidential pick brings renewed vigor to each party's economic vision. There's fraud risk in almost half of real estate transactions Issues or errors in closing-protection letters appeared in over 45% of loans, a record-high share, according to Fundingshield. Falling mortgage rates not spurring housing activity yet Even though the 30-year fixed rate mortgage is at its lowest level since mid-March, consumers are being cautious in returning to the market, Freddie Mac said.

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If you have a project that exceeds the SBA 7(a) $5 million limit, Live Oak’s combination financing program is a creative solution. We pair an SBA 7(a) loan ($5 million) with a conventional loan up to $4 million and a line of credit when appropriate. Let’s connect and discuss if this would be a good fit for your business opportunity. #mergersandacquisitions #smallbusiness

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🏦📘 Get a passing grade on escrow! If you have questions about this part of the home-buying process, we're here to provide clear answers and guide you every step of the way. 🍎 #BackToSchoolForMortgages #Escrow #Knowledge

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Escrow waivers can provide a clearer financial picture. By handling your property taxes and insurance payments directly, you can better understand and manage your overall financial landscape. Call us to find out more.

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💼 DSCR Loan: No Income Documents Needed Are you an investor looking for a hassle-free loan process? Our DSCR Loan program requires no income documentation! Perfect for seasoned investors or those just getting started. Contact me today at 404-372-4888 to learn more! #OMEGAMortgage#MachelleMortgageMiracleWorker #DSCRLoan #InvestmentProperty #NoIncomeDocs #RealEstateInvesting #HassleFreeLoans #SecureYourFuture #RealEstate #InvestorFriendly #LoanOptions #PropertyInvestment

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Business owners: What if you could secure the commercial real estate your business needs without draining your cash reserves? The SBA 504 Loan Program might be the key to making it happen. With this program, you can: • Finance owner-occupied commercial real estate with just 10% down, keeping your capital available for other priorities. • Benefit from low, fixed interest rates that make long-term planning easier. • Navigate a simplified loan process designed to help you focus on what matters—your business. As a Relationship Manager, I’ve seen how this program opens doors for entrepreneurs to invest in their future without unnecessary financial strain. Whether you’re buying a building or expanding your operations, the SBA 504 program offers the flexibility and affordability to help you grow. Let’s connect. I’d be happy to discuss how this program can work for your business. #sba504 #sbaloans #commercialbanking #businessbanking

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