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SOHO Today is moving!

Like many of our viewers SOHO Today is also growing, and is being relaunched as a network.

Visit us now! Our new site is up, although we are still tweaking the design and adding content. Next month we will officially launch the site and we've got a bunch of new programming!

  • SOHO Today: stiill your show for current news, tips and tricks for entrepreneurs and small business owners. Our flagship show will still be hosted by Mary Joan Schultheisz, but returns in a 30-minute format.
  • Shut Up!: A round up of the most outrageous small business and entrepreneur headlines out there
  • He Said / She Said: Opposing points of view from married business couples on topics like finances, health care reform and other current news.
  • Small Business Juggler: Isn't this the real title for every small business owner? We take a look at the every-day challenges and how people manage them.
  • All Things Tech: The latest in technology and how it impacts you and your business
  • Contributions from some of the leading small business experts - including you!

Email us at info@sohotoday.net with questions, topics, and suggestions for guests.

What's your area of expertise? You never know, you could find yourself on the air!

Finances Episodes on SOHO Today

SOHO Today is hosted by Mary Joan Schultheisz, and it's all about small businesses. Beginning in July 2009 SOHO Today can be seen live Thursday afternoons, and in the InTimeTV.com archives any time. So if you miss a show or want to refer a colleague or friend you’ll always be able to find us.

SOHO stands for Small Office, Home Office, and small business is the focus of this show. On SOHO Today we provide you with tips, tools and techniques for running and growing your small business. We explore topics like technology, financing and insurance, how to get started, how to grow and how to compete against larger companies.

Topic: Small Business Investment Company (SBIC) Program — View the show here!

SBICs came into existence 50 years ago when Congress created the program to help small companies raise capital. Small Business Investment Companies (SBICs) target entrepreneurs who have been denied the opportunity to own a business because of a social or economic disadvantage. They are licensed by the Small Business Administration (SBA). These investment companies have their own private capital of several million dollars and may borrow additional funds from an SBA sponsored trust at favorable rates. SBICs tend to be more risk tolerant than banks or regular venture funds, specialize in a particular industry, and target young companies that aren't ready for a traditional venture deal. Watch and find out how you can take advantage of these programs.

Guest: John Hoesley, Prism Mezzanine Fund. Mr. Hoesley has a Masters of Management from J.L. Kellogg Graduate School of Management at Northwestern University with majors in Management and Strategy, Organizational Behavior and Finance. He earned a BS degree in Chemistry from the University of Illinois. He is responsible for sourcing,

Topic: Securing Capital To Grow Business — View the show here!
Guest: Mark Ferguson, U.S. Small Business Administration, Illinois District Office
The SBA offers many programs and services to help small business start, grow and succeed. Mark has a master's degree in finance, and prior to joining the SBA in 1991 he worked in the mortgage industry as a loan officer.

Mary Joan and Mark talked about the number of SBA loans in Illinois last fiscal year:

  • under the 7(a) loan umbrella there were 4,235 totaling over $436 million dollars
  • 504 loans totaled 418 worth more than $247 million

There are a number of loans under the 7(a) loan umbrella:

  • Express loan program up to $350,000, 50% guarantee, bankers can use own documentation, loans under $25,000 don't require collateral
  • Community express loan program, up to $250,000, low to moderate income areas, 85% guarantee, beauty of that is lenders may streamline and expedite, and use own documentation
  • Cap line program, the line of credit programs
    • contract line, means they lend money based on the dollar amount of your contracts
    • builders
    • seasonal
    • small asset based
    • large asset based

Where Do I Start the Loan Process

You go to your financial lender. If they turn you down, or they won't consider you then you might be able to get an SBA loan.

Paperwork Necessary

Mark Ferguson of the SBA says that you need a business plan, a personal financial statement, 3 years of tax returns.

Maximum and Minimum Loans

The maximum loan is $2 million, although in some instances they may lend higher.

There is not a minimum loan. But for a small dollar amount, $1,000 - $5,000, maybe a little bit higher, you'll want to consider a microloan. For more information about microloans and microlenders visit the SBA web site.

View our other shows

Insurance >> Business Plans >> Taxes >> Finances >> Marketing >> SBA >> Technology >> HR >> Franchises

Emails, Feedback, Calls, Topics, Guests

As a small business owner, entrepreneur, sole proprietor or whatever you want to call yourself we want to hear from you! Email us at soho@intimetv.com with questions, comments,

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