SBA loans for business purchases have been nearly impossible to secure in today's credit crunch environment - recent news out of the SBA seems to indicate that recent changes may help our past source of reliable financing for business purchases. Here is what the SBA recently announced:

In response to the credit crunch, today SBA’s Acting Administrator Sandy K. Baruah announced important loan program changes to help the agency’s lending partners increase access to capital for small businesses. 

First, an interim final rule allowing new SBA loans to be made with an alternative base interest rate, the one month LIBOR rate (London Interbank Offered Rate), in addition to the prime rate, which was previously allowed. In the past 60 days, both the prime and LIBOR rates have not yet returned to their historical relationship—of roughly 300 basis points between the two rates. The mismatch between the rates is squeezing SBA lenders out of the lending market, since their costs are based on the LIBOR rate.

“This change will help more small businesses obtain capital to grow their businesses and create new jobs,” Baruah said. “By allowing both rates, SBA is making its programs more flexible, increasing opportunities to access capital and giving both lending partners and small business customers more options to meet their needs.” 

The second change allows a new structure for assembling SBA loans into pools for sale in the secondary market. The enhanced flexibility in loan pool structures can help affect profitability and liquidity in the secondary market for SBA guaranteed loans, especially with the current market conditions. Because the average interest rate is used, these pools are easier for pool assemblers to create, thus providing incentives for more investors to bid on these loans.  “The challenge small businesses face today is not the cost of capital, it is access to capital,” said Baruah.

“Interest rates are at historically low levels meaning money is inexpensive, yet lenders aren’t lending and borrowers aren’t borrowing. This indicates markets are frozen due to liquidity concerns. This interim final rule is an important step to reenergize the lenders to make SBA-backed loans and will help open the gateway of capital for entrepreneurs.” “SBA moved quickly on these changes after consulting with small businesses, lending partners and other government agencies,” said Eric R. Zarnikow, SBA’s Associate Administrator for the  Office of Capital Access. “We’re confident these solutions will help free up capital so lenders can continue to make SBA-backed loans.”

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The October sales rate for small and mid-market businesses in California was substantially higher than the number recorded the month before, according to results tracked by BizBen businesses for sale in California.

What we witnessed was a 'bounce' rather than a lasting trend - the 2,323 closings in October 2008 nearly doubled the 1,187 transactions recorded in the previous month, and represent a 15.6% increase on the 2,009 business sales booked in October 2007.

A number of deals that started in the summer were delayed during the following months due to the distractions we experienced in August and September - the 'bounce' in October indicates that several transactions finally were able to close.

My prediction is that we're not out of the woods yet. I expect we'll see a slowdown in business activity through the rest of the year, which is traditionally a period of fewer transactions because of the holidays.

Most of the state's large counties showed a boost in completed escrows in October over the numbers recorded in September 2008. Los Angeles County closed 671 deals, compared to 278 the prior month; San Diego's figure was 293 vs. 186; Santa Clara registered 151 transactions vs. 39; San Francisco's numbers were 75 in October, and 58 in September, while Orange County posted a figure of 216, vs. 152 the prior month.

BizBen reported the number of small business sales completed in October 2008, shown by California county, as follows: Alameda 73; Amador 2; Butte 9; Calaveras 5; Contra Costa 51; El Dorado 13; Fresno 34; Glenn 1; Humboldt 6; Imperial 2; Inyo 2; Kern 29; Kings 1; Lassen 3; Los Angeles 671; Madera 1; Marin 16; Mendocino 4; Merced 10; Modoc 1; Monterey 26; Napa 11; Nevada 5; Orange 216; Placer 33; Riverside 62; Sacramento 78; San Bernardino 125; San Diego 293; San Francisco 75; San Joaquin 33; San Luis Obispo 12; San Mateo 35; Santa Barbara 25; Santa Clara 151; Santa Cruz 9; Solano 26; Sonoma 32; Stanislaus 25; Sutter 13; Tehama 1; Tulare 46; Tuolumne 7; Ventura 36; Yolo 14.

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BizBen viewers top views yesterday included a Rio Linda Fish/Ski Lake, Warehouse, a Marina Del Rey Hair Salon, an Orange County Smoke Shop, a North County Flower Shop, a Tarzana Wireless Store, as some of the more popular California small businesses for sale that were added and reviewed by business buyers, business brokers, intermediaries, and small business owners yesterday on BizBen.com.

11/18/08 BizBen Top 20 Includes:

1. Boat Dealership, Storage, Water Ski Lake, Boat Dock for sale located in Rio Linda - Price: $1,350,000, Adjusted Net: Call. Fish-Water Ski Lake, 4800 Sq. Ft. Of Retail/Warehouse, Storage & Apt, Boat Dock.

2. Hair Salon for sale located in Marina Del Rey - Price: $16,000, Adjusted Net: Call/Email. Fire Sale! - Hair Salon - Huge Discount!

3. Smoke Shop, Tobacco, Cigarette, Glass Pipes for sale located in Orange County - Price: $65,000, Adjusted Net: $84,000. Smoke Shop, Tobacco, Cigarette, Glass Pipes, 360K Gross Rev!

4. Flower Shop for sale located in North County - Price: $120,000, Adjusted Net: $65,000. Popular Upscale Flower Shop: In Business For 17 Years.

5. Wireless Store for sale located in Tarzana - Price: $125,000, Adjusted Net: $70,000. Semi Absentee Ownership. Extremely Sought After Location In Tarzana.

6. Italian Restaurant, Bar, Club for sale located in LA Area - Price: $1,600,000, Adjusted Net: $450,000+. Top Italian Rest, Bar, Club, Patio With Tuscany Style Charm. Prime Location.

7. Nail Salon for sale located in Orange County - Price: $149,000, Adjusted Net: $81,584. Fantastic Nail Salon In Orange County.

8. Auto Repair Shop And Smog Check Service for sale located in LA County - Price: $189,000, Adjusted Net: $92,600. Located On An Extremely Busy Street In A Clean, Modern Facility.

9. Car Stereo Store for sale located in Airport Area - Price: $499,000, Adjusted Net: $246,000. High Volume Car Stereo Store Not Far From Long Beach Airport.

10. Shoes & Accessories Store for sale located in Hayward - Price: $100,000, Adjusted Net: Call/Email. Shoes & Accessories Store In Southland Shopping Center.

11. Restaurant, Bar, Brew Pub, Entertainment for sale located in Sonoma County - Price: $495,000, Adjusted Net: Call/Email. Beautiful New Restaurant, Bar, Brew Pub, Entertainment Venue.

12. Auto Service And Repair Shop for sale located in Northern Bay - Price: $274,500, Adjusted Net: $104,290. Well Established Auto Service And Repair Business With Limited Competition.

13. Women’s Fitness Center for sale located in SF East Bay - Price: $129,950, Adjusted Net: Call. Turnkey. Financially Attractive, Easy-To-Manage System With Minimal Employees.

14. Toaster Oven Sandwich Shop for sale located in Financial District/S - Price: $650,000, Adjusted Net: $160,000. Oven Sandwich Shop Is A Bay Area Homegrown, Up-And-Coming Concept.

15. Restaurant With Liquor License for sale located in Greater Marina - Price: $535,000, Adjusted Net: Call. Popular Going Concern In Hot Area, Good Mojo. Stone’s Throw To Beach.

16. Flight School And Aircraft Maintenance Service for sale located in Central California - Price: $695,000, Adjusted Net: $60,000. 25 Yr Established Flight School/FBO.

17. Frozen Yogurt, Ice Cream Shop for sale located in Belmont - Price: $119,000, Adjusted Net: Call. New Business Invested 275,000 And Wants To Sell For Family Reasons.

18. Mexican Restaurant Franchise for sale located in Long Beach - Price: $250,000, Adjusted Net: Call. Popular Growing Mexican Restaurant Franchise Available.

19. Sandwich Restaurant for sale located in Sacramento - Price: Call/Email, Adjusted Net: Call/Email. The Sandwich Spot. The Sandwich Spot Was Founded In 2007.

20. Dry Cleaners With Plant for sale located in Fremont - Price: $319,000, Adjusted Net: $70,000. Well-Established Dry Cleaners In Fremont-Mission Hills Area - Must Sell.

See all 11/18/08 Newly added listings for sale that were added yesterday!

Reveiw all the past BizBen Top 20 recent results.

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BizBen viewers top picks yesterday included a Orange County Tile Showroom, a Los Angeles County Auto Repair Shop, a Oxnard Coin Laundry, a Otay Mesa Area Restaurant, a Pomona Wireless Store, as some of the more popular California small and mid-sized businesses for sale that were added and reviewed by business buyers, business brokers, agents, intermediaries, and business owners yesterday on BizBen.com.

11/13/08 BizBen Top 20 Includes:

1. Home Decor & Flooring Showroom Service for sale located in Orange County - Price: $50,000, Adjusted Net: Call/Email. Fabulous Home Décor & Flooring Showroom.

2. Auto Repair Shop for sale located in Los Angeles County - Price: $89,000, Adjusted Net: $119,987. No Competition Fuel Injection & Carburetor Repair.

3. Coin Laundry for sale located in Oxnard - Price: $720,000, Adjusted Net: Call. New Coin Laundry.

4. Restaurant for sale located in Otay Mesa Area - Price: $34,500, Adjusted Net: $50,000. Fully Equipped, Fixturized Restaurant Near By Mexico Board.

5. Wireless Store for sale located in Pomona - Price: $76,000, Adjusted Net: $84,000. Wireless Store.

6. Franchise Deli Franchise for sale located in Inland Empire - Price: $175,000, Adjusted Net: Call. Franchise Deli Plus Area Development Rights For 4 Locations.

7. Translation Services for sale located in Los Angeles - Price: $350,000, Adjusted Net: $75,000. Profitable, Privately Owned And Operated Ecommerce Company For Sale.

8. Pizza Restaurant for sale located in Contra Costa County - Price: $50,000, Adjusted Net: Call/Email. Restaurant.

9. Carpet & Window Cleaning Service for sale located in Santa Ynez Area - Price: $69,000, Adjusted Net: $54,000. Established 16 Yrs. High Net Worth Clients. Part-Time, Full-Time.

10. RV, Trailers, Toy Haulers, Used Motorhomes Sales for sale located in Inland Empire - Price: $120,000, Adjusted Net: Call/Email. RV Sales Of New Trailers, Toy Haulers And Used Motorhomes.

11. Lounge, Restaurant for sale located in Los Angeles - Price: $525,000, Adjusted Net: Call. Great Opportunity,lowest Price In This Area, + Lowest Rent.

12. Self-Self Frozen Yogurt Shop for sale located in Riverside - Price: Free, Adjusted Net: Call. Just Take Over Lease. Self-Serve Frozen Yogurt Shop.

13. Maid House Cleaning Service for sale located in Southern California - Price: Call, Adjusted Net: Call. Franchise Quality Maid House Cleaning Services.

14. Curves Womens Fitness Facility Franchise for sale located in Inland Empire - Price: $250,000, Adjusted Net: Call/Email. This Curves Is Located In A Very Prominent Area Of East Rancho Cucamonga.

15. Clothing And Accessory Manufacturing, Wholesaler for sale located in Southern California - Price: $250,000, Adjusted Net: Call. Girl’s Clothing And Accessory Manufacturing And Wholesaler.

16. Niche Video Stores for sale located in LA County - Price: $975,000, Adjusted Net: $325,000. Niche Video Stores Specializing In Adult Content.

17. Wireless Store for sale located in Walnut - Price: $150,000, Adjusted Net: $132,000. Wireless Store.

18. Professional Home Cleaning Service Franchise for sale located in South Bay - Price: $165,000, Adjusted Net: Call/Email. Well Known Professional Home Cleaning Service Franchise.

19. Coin Laundry for sale located in Imperial Beach - Price: $160,000, Adjusted Net: Call. Coin Laundry. 2 Area Laundry Locations Available.

20. Gas Station, Mart, Real Estate for sale located in Atwater - Price: $1,600,000, Adjusted Net: Call/Email. Busy & Corner Location Independent Gas Station + R.E Sale.

See all 11/13/08 Newly added listings for sale that were added yesterday!

Reveiw all the past BizBen Top 20 recent results.

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317 California Businesses For Sale, Franchises, & Business Opportunities Were Sold Between October 27, 2008 and November 2, 2008.

Sales of California businesses by County included:

Alameda County: 23, Butte County: 6, Calaveras County: 3, Contra Costa County: 11, El Dorado County: 1, Fresno County: 5, Inyo County: 1, Kern County: 6, Los Angeles County: 79, Marin County: 1, Merced County: 4, Monterey County: 3, Napa County: 1, Orange County: 27, Placer County: 4, Riverside County: 5, Sacramento County: 10, San Bernardino County: 13, San Diego County: 29, San Francisco County: 11, San Joaquin County: 7, San Luis Obispo County: 3, San Mateo County: 8, Santa Barbara County: 5, Santa Clara County: 19, Santa Cruz County: 3, Sonoma County: 5, Stanislaus County: 1, Sutter County: 2, Tulare County: 3, Ventura County: 8, Yolo County: 7

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National franchise Sport Clips  will have a booth (#320) at the West Coast Franchise Nov-7th -9th at the Los Angeles Convention Center, 1201 South Figueroa Street. Go out and meet their VP of Market Development and two of their California Area Developers.

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The annual West Coast Franchise Expo opens November 7, at the Los Angeles Convention Center.

Scheduled to run through November 9, the Expo will bring together many of the nation's top franchise companies with thousands of individual entrepreneurs from California and other Western states. Sponsor is the International Franchise Association.

Go to  http://www.franchise.org/wcfexpo.aspx for more information about this upcoming expo.

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SCORE Workshop

Starting Your Own Business

An all-day workshop that is an ideal starting point for the start-up entrepreneur and new business owner looking for answers. Hear a panel of working professionals cover topics such as finance, accounting, insurance, marketing and legal.

This workshop is an ideal starting point for anyone starting a new business. In one six hour session you can obtain information you'll need to get your business off to a proper start. This could take you five appointments or more in different parts of town to accomplish.  All this and more is covered in an informal setting where you are encouraged to get your questions answered.  A must-attend for any aspiring entreprenuer.

Limited Seating. Pre-register here to save your seat and $5.

Date:

Thursday, November 6, 2008

Time:

9:00 AM - 3:00 PM

Location:

Los Angeles Area Chamber of Commerce
350 South Bixel Street
Los Angeles, CA 90017
 
$40 at the door; $35 if you pre-register here.

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The major key to unlocking business wealth is identifying cause-and-effect relationships. In most valuation reports, we see only effects: “ABC’s inventory turnover is less than ½ the industry average. This reduces cash flow.” We almost never read why ABC’s inventory turn is glacial. This webinar introduces attendees to an important new framework, Strategy-People-Architecture-Routines-Culture (SPARC), which can help them link effects to underlying causes. Armed with that knowledge, service-providers can help clients unlock elusive wealth whose potential was there all along, sometimes for decades.

What You Will Learn:

Attendees will receive a series of logical and intuitive tools, including the five components of SPARC. They will also be presented with four easy-to-remember types of resources (P-FHO) with examples and measures of each. Using an actual fact pattern, we will demonstrate how to use the on-site interviewing process to connect selected “effects” (metrics and ratios) to their underlying causes. Proper preparation for the visit offers professionals countless opportunities to help clients position themselves for growth, to increase differentiation of their business and your practice, and to leverage the insights gained into lucrative add-on consulting engagements for exit planning, value enhancement, and buy-side due diligence.

CPE Credit:

Program Level: Overview Delivery Method: Group Internet-Based
Prerequisites: None CPE Credits: Two hours
Advanced Preparation: None Fields of study:
Specialized Knowledge & Applications

November 13, 2008

11am – 1pm Pacific / 12pm – 2pm Mountain
1pm – 3pm Central / 2pm – 4pm Eastern

Presented by:

Warren Miller, CFA, ASA, CMA, CPA

Registration:

To register, print, complete, and mail or fax the registration form to the Institute of Business Appraisers or print and complete the registration form, scan, and e-mail to registration@go-iba.org. or call IBA Member Services at (866) 353-5406.

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BizBen users top selections yesterday included a LA County Coffee House, a Los Angeles Bar & Restaurant, a Guerneville Cafe/Deli/Wine Bar, a Los Angeles Maintenance Service, a LA South Bay Billiards Hall, as some of the more popular California small and mid-sized businesses for sale that were added and reviewed by business buyers, business brokers, agents, intermediaries, and business owners yesterday on BizBen.com.

11/3/08 BizBen Top 20 Searches Included:

1. Coffee House for sale located in LA County - Price: $50,000, Adjusted Net: $40,000. Franchise Coffee House In Los Angeles County For Sale.

2. Restaurant And Bar for sale located in Los Angeles - Price: $875,000, Adjusted Net: $100,000. Hollywood Blvd Bar & Restaurant With Full Liquor In Great Location.

3. Cafe, Deli, & Wine Lounge for sale located in Guerneville - Price: $150,000, Adjusted Net: Call/Email. Charizma, In Guerneville, Is A Local Favorite With A Main Street Location.

4. Commercial Parking Lot Maintenance for sale located in Los Angeles - Price: $980,000, Adjusted Net: $300,000. Commercial Parking Lot Maintenance Company With 14 Years Of Serving Customers.

5. Billiards Hall for sale located in LA South Bay - Price: $50,000, Adjusted Net: Call/Email. Billiards Hall For Sale In South Bay Los Angeles County.

6. Commercial Bakery for sale located in San Fernando Valley - Price: $235,000, Adjusted Net: $90,123. Innovative Bakery With Unique Product Mix.

7. Quiznos Restuarant for sale located in Sacramento - Price: $85,000, Adjusted Net: Call/Email. Best Quiznos Location In Sacramento Area.

8. Mailbox And Printing Service for sale located in Concord Area - Price: $170,000, Adjusted Net: Call/Email. Full Mail & Printing Service.

9. Restaurant for sale located in Downtown Area - Price: $250,000, Adjusted Net: Call. Highly Sought After Downtown Palo Alto Location.

10. Fruit & Chocolate Arrangements, Gift Baskets for sale located in Los Angeles Area - Price: $225,000, Adjusted Net: $66,000. Fruit & Chocolate Arrangements And Gift Baskets. Loyal Customer Base.

11. Juice It Up! Smoothie/Juice Bar for sale located in Coachella - Price: $75,000, Adjusted Net: Call/Email. Juice It Up! Smoothie/Juice Bar For Sale In Coachella - Jackson Square.

12. Mini Mart for sale located in The Alameda - Price: $139,000, Adjusted Net: Call. Mini Mart On The Alameda. Excellent Location.

13. HVAC Contracting Service for sale located in Los Angeles - Price: $20,000, Adjusted Net: Call. HVAC Contracting Company Corporate Identity.

14. Design, Branding, Intellectual Property Lab & Studio for sale located in Los Angeles - Price: Call, Adjusted Net: Call. Design, Branding, Intellectual Property Lab & Studio In Southern California.

15. Automotive Service And Repair Service for sale located in West Valley - Price: $72,000, Adjusted Net: Call. Automotive Service & Repair W/Access Major Freeways.

16. Pizza And Pasta Restaurant for sale located in Los Angeles - Price: $75,000, Adjusted Net: $60,000. Excellent Opportunity To Enjoy Already Established Pizza Restaurant.

17. Office And Business Supply Store for sale located in Los Angeles - Price: $3,200,000, Adjusted Net: $1,000,000. 18 Year Old, Well-Established Office And Business Supply Company.

18. Postal Franchise for sale located in San Diego - Price: $110,000, Adjusted Net: $31,979. Well Established Postal Franchise In San Diego.

19. Quick Service Mexican Restaurant for sale located in Orange County - Price: $70,000, Adjusted Net: Call/Email. A Walk Up, Quick Service Mexican Operation With Great Service And Food.

20. Sales Representative Service for sale located in South Bay Area - Price: $359,000, Adjusted Net: $175,000. Retail Sales Representative Organization.

See all 11/3/08 Newly added listings for sale that were added yesterday!

Reveiw all the past BizBen Top 20 recent results.

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