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CMDC 2013 Annual Meeting & Small Business Summit

November 21, 2013
Each year CMDC hosts an Annual Meeting & Small Business Summit for their members, Minnesota business owners, lenders, real estate professionals, community leaders and other professionals who are part of growing small business in Minnesota. 

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NEW VetLoan Advantage Program

October 21, 2013
CMDC announces the NEW VetLoan Advantage program that helps veterans get the financing they need for Minnesota start-ups and existing businesses at a lower cost! As a commitment of our support to all veterans, CMDC has partnered with the National Association of Development Companies (NADCO) to offer the VetLoan Advantage program. We thank you for your service, whether you served decades ago or are just re-entering the civilian workforce.

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SBA Reopens for Business!

October 17, 2013

 

The Senate, the House of Representatives, and the President have  reopened the federal government through a Continuing Resolution. SBA is back in business!  

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SOP 50 10 5(F) Collateral Requirement Changes

October 15, 2013
SBA recently released a revised version of the SOP 50 10 5 (F), effective January 1, 2014 in which the "new" collateral requirements have dramatically changed. Even though the new rules don't become effective for a couple of months, now is the time to review, interpret, and plan for the changes.

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Government Shutdown Effect on SBA Loans

October 2, 2013
As you are no doubt aware, we are in the midst of a partial federal government shutdown. CMDC is still accepting and processing loans; however, the shutdown will have an immediate impact on loan applications and processing. The offices of the SBA are one of the government functions that have been temporarily closed until the government reaches a funding solution.

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