Allen, I had a buyer (rent to own) who tried to get Southwest Securities Bank(preferred S.B.A. lender) to fund the loan for outright purchase of my car wash when the earlier 90% program was in effect. He had 20% down (rental equity) with a credit score of 820.The bank drug out the approval process until the program discontinued.These banks do not want to loan money with or without S.B.A. help. He finally got approved by Chase Bank's new program. Just because one may be able to get financing doesn't mean it's a good thing.Even if one builds he has got to wash cars to make car wash work.I personally would not build now because of the consumer confidence about jobs,health care cost and new tax burdens.This president has gotten this country in a hugh mess and his status as a community organizer is showing.He has no earthly idea what to do.Gota'go.
Obama calls on GOP to pass Small Business Jobs Bill
- Thread starter Alan Bussey
- Start date
Alan Bussey
Member
D. -
There are a number of long-time successful car wash owners who have new car washes under construction at this very moment, and others who are at this time in the municipal permitting stage to build new ones as quickly as possible. Not everyone believes the sky is falling.
Our best days are just ahead. But we have to take action to ensure our success. The Jobs Bill (H.R. 5297) is a firm action that we can take to get people back to work and to get the car wash business roaring again.
Alan Bussey
Fight Cynicism.
There are a number of long-time successful car wash owners who have new car washes under construction at this very moment, and others who are at this time in the municipal permitting stage to build new ones as quickly as possible. Not everyone believes the sky is falling.
Our best days are just ahead. But we have to take action to ensure our success. The Jobs Bill (H.R. 5297) is a firm action that we can take to get people back to work and to get the car wash business roaring again.
Alan Bussey
Fight Cynicism.
Red Baron
Active member
Alan I'll give you this much, you're persistent.
I won't be "supporting" anything done on Obama's watch. Once a guy shows me I can't trust him, I don't pick and choose from his offerings to see which ones might be good for me.
You can't make a good deal with a bad person.
---Zig Ziglar
I won't be "supporting" anything done on Obama's watch. Once a guy shows me I can't trust him, I don't pick and choose from his offerings to see which ones might be good for me.
You can't make a good deal with a bad person.
---Zig Ziglar
Alan Bussey
Member
Red -
Have no fear, Barack Obama's name is nowhere on the Small Business Jobs Bill. Our local representatives have already passed it, and it looks as though the Senate will do the same. Perhaps some relief for car wash businesses is on the way.
Alan Bussey
Fight Cynacism
Have no fear, Barack Obama's name is nowhere on the Small Business Jobs Bill. Our local representatives have already passed it, and it looks as though the Senate will do the same. Perhaps some relief for car wash businesses is on the way.
Alan Bussey
Fight Cynacism
Red Baron
Active member
I think there's a different dynamic than politics as usual this time. Ol' Barney Frank, Reid and Pelosi think they'll just ramrod their agenda thru, but folks have their brakes on. Oh, it ain't gonna happen over night but things are grinding to a definate halt. This economy isn't going anywhere until the people who actually get things done regain some confidence after the election(s).
The American small businessman drives this economy and he isn't going to be hoodwinked with Obama's sleight-of-hand socialist strategies disguised as a "jobs bill."
If you haven't already tied a knot in your rope months ago, you better get after it.
The American small businessman drives this economy and he isn't going to be hoodwinked with Obama's sleight-of-hand socialist strategies disguised as a "jobs bill."
If you haven't already tied a knot in your rope months ago, you better get after it.
ted mcmeekin
Fast and Clean
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- Aug 30, 2007
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- 412
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- 16
Alan,
Helping some small business to borrow more in a very sick economy makes no sense for these owners or our economy. Time for us and the lenders to go belly up if we can't make it. That's been the problem--this needs to die and see what honest, thoughtful ideas come in January. Working through hard times can produce some really creative ideas that would never surface if the government is simply handing out more money we don't have.
We are surviving but not growing and have thought through several what if scenarios if expenses continue to rise with flat revenues. I would suggest this is a good excercise for all of us. We have one plan that looks doable albeit ugly we can implement if need be.
I wish you all the best luck through this and believe the fighters can tell the government to pack it in their ear and get through this.
Ted,
Helping some small business to borrow more in a very sick economy makes no sense for these owners or our economy. Time for us and the lenders to go belly up if we can't make it. That's been the problem--this needs to die and see what honest, thoughtful ideas come in January. Working through hard times can produce some really creative ideas that would never surface if the government is simply handing out more money we don't have.
We are surviving but not growing and have thought through several what if scenarios if expenses continue to rise with flat revenues. I would suggest this is a good excercise for all of us. We have one plan that looks doable albeit ugly we can implement if need be.
I wish you all the best luck through this and believe the fighters can tell the government to pack it in their ear and get through this.
Ted,
Reds
Member
"Have no fear, Barack Obama's name is nowhere on the Small Business Jobs Bill." But yet "Barach Obama calls on GOP to pass small business jobs bill". His name may not be on it, but he has his fingers in the cake. I don't like what he has done so far to ruin our economy and I am not about to trust him on this one.
Tom Thumb
Active member
Easy credit is what got us in this mess and that is what this bill is trying to do IMO.
If I was agent in the business of putting loans together I might support this bill, all I am looking for is customers with a few dollars to spent on a car wash.
If I was agent in the business of putting loans together I might support this bill, all I am looking for is customers with a few dollars to spent on a car wash.
Alan Bussey
Member
For a few car wash owners the most important provision in H.R. 5297 is that it increases Small Business Administration (SBA) Loan Limits. This provision permanently increases the 7(a) loan limit from $2 million to $5 million, and the 504 (second lien) loan limit from $1.5 million to $5.5 million.
For example, someone who already has two express washes using two 504 loans will now be able to build at least five more, a total of SEVEN, express washes under the 504 program.
Someone who has two combination self-serve/IBA's financed with two SBA 7(a) loans will now be able to build three more, a total of FIVE, under the 7(a) program.
Of course, if the Jobs Bill passes new regulations for the new loan size limits will need to be completed, probably soon after enactment. SBA and our industry associations have not yet told us about the details. (The Devil is the details!) We do know that, unlike the temporary 90% guarantee and temporary fee waivers, the new larger maximum loan sizes are a permanent change.
The new larger loan size limits are going to be important to some investors in the car wash industry. There are experienced successful car wash owners who have been 'capped' for more than a year, and who are at this time actively preparing to apply for additional SBA-backed loans under the new Act. They are planning to grow their car wash businesses NOW (and create jobs now), not at some unknown time in the future.
The Small Business Jobs Act will be beneficial to car wash owners and to others in the car wash industry. The Senate is scheduled to vote on this bill Tuesday, September 14th.
Alan Bussey
For example, someone who already has two express washes using two 504 loans will now be able to build at least five more, a total of SEVEN, express washes under the 504 program.
Someone who has two combination self-serve/IBA's financed with two SBA 7(a) loans will now be able to build three more, a total of FIVE, under the 7(a) program.
Of course, if the Jobs Bill passes new regulations for the new loan size limits will need to be completed, probably soon after enactment. SBA and our industry associations have not yet told us about the details. (The Devil is the details!) We do know that, unlike the temporary 90% guarantee and temporary fee waivers, the new larger maximum loan sizes are a permanent change.
The new larger loan size limits are going to be important to some investors in the car wash industry. There are experienced successful car wash owners who have been 'capped' for more than a year, and who are at this time actively preparing to apply for additional SBA-backed loans under the new Act. They are planning to grow their car wash businesses NOW (and create jobs now), not at some unknown time in the future.
The Small Business Jobs Act will be beneficial to car wash owners and to others in the car wash industry. The Senate is scheduled to vote on this bill Tuesday, September 14th.
Alan Bussey
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Washmee
Fullservice Tunnel
Alan, I appreciate your efforts to educate us on this program, but I have to agree with the others who think that easy credit is what got us into this mess in the first place. I would find it hard to believe that there are very many markets left out there that could absorb the scenarios that you have suggested in the previous post. In fact there are many market areas that are way overbuilt due to the easy credit that was available during the real estate bubble. I'm sure the SBA program will be good for many small business's, but not necessarily the car wash business. We need customers right now, not more competition.
Tom Thumb
Active member
"The devil is in the details" and they have not been written yet.
I think that says it all.
I think that says it all.
Alan Bussey
Member
John -
I can't say that we really had easy credit for car washes and I've been 'front and center' for a long time. It is certainly true that it was easier in 2006 and 2007 to get a loan for a car wash than it is now. One of the big problems that small businesses of all stripes face today is a lack of capital in many banks. The Jobs Bill addresses that problem to some degree.
I, and many other people a lot smarter than me, agree with you that 'easy credit' in the home mortgage market led to the Great Recession that we will be experiencing for years to come. It seems to me that more should have been done to clamp down on the 'easy credit' practices in home mortgages well before the problem nearly destroyed the U.S. economy.
Alan Bussey
Fight cynicism.
I can't say that we really had easy credit for car washes and I've been 'front and center' for a long time. It is certainly true that it was easier in 2006 and 2007 to get a loan for a car wash than it is now. One of the big problems that small businesses of all stripes face today is a lack of capital in many banks. The Jobs Bill addresses that problem to some degree.
I, and many other people a lot smarter than me, agree with you that 'easy credit' in the home mortgage market led to the Great Recession that we will be experiencing for years to come. It seems to me that more should have been done to clamp down on the 'easy credit' practices in home mortgages well before the problem nearly destroyed the U.S. economy.
Alan Bussey
Fight cynicism.
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Alan Bussey
Member
It's time for us to act.
Men -
The Senate begins final deliberation on the Jobs Bill Monday afternoon.
The Small Business Jobs Bill supports new job creation nationwide. The non-partisan Congressional Budget office has certified that once passed and enacted the Small Business Jobs Act will be 'deficit neutral'. The Jobs Bill:
1. Provides substantial new tax deductions for small businesses that invest in new facilities and equipment by the end of 2011, and provides a new temporary tax deduction to small business owners for owner health insurance premiums.
2. Provides $30 Billion at a low interest rate to healthy banks that significantly increase their loans to small businesses. The banks must repay the $30 Billion to the Treasury within a limited time.
3. Increases the SBA 7(a) loan guarantee from 75% to 90% for loans approved through December 31, 2010.
4. Entirely eliminates the SBA 7(a) Guarantee Fee for loans approved through December 31st.
5. Substantially eliminates SBA 504 fees paid to SBA for 504 loans approved through December 31st.
6. Permanently triples the maximum SBA loan sizes and triples the maximum total SBA-assisted loan amount available to a single borrower.
The Senate begins final deliberation on the Jobs Bill Monday afternoon, with the final vote likely Tuesday afternoon, September 14th.
If you believe that the Small Business Jobs Act will be good for your country and good for your car wash business now is the time to act. You can make a difference.
Click here to go to the easy steps to write to your Senators and Representative about the Jobs Bill:
http://www.carwashloans.com/Write_to_your_Senators_and_Representative_About_the_Jobs_Bill.html
These steps include pre-written text that you can use in your message or that you can change.
Alan Bussey
Men -
The Senate begins final deliberation on the Jobs Bill Monday afternoon.
The Small Business Jobs Bill supports new job creation nationwide. The non-partisan Congressional Budget office has certified that once passed and enacted the Small Business Jobs Act will be 'deficit neutral'. The Jobs Bill:
1. Provides substantial new tax deductions for small businesses that invest in new facilities and equipment by the end of 2011, and provides a new temporary tax deduction to small business owners for owner health insurance premiums.
2. Provides $30 Billion at a low interest rate to healthy banks that significantly increase their loans to small businesses. The banks must repay the $30 Billion to the Treasury within a limited time.
3. Increases the SBA 7(a) loan guarantee from 75% to 90% for loans approved through December 31, 2010.
4. Entirely eliminates the SBA 7(a) Guarantee Fee for loans approved through December 31st.
5. Substantially eliminates SBA 504 fees paid to SBA for 504 loans approved through December 31st.
6. Permanently triples the maximum SBA loan sizes and triples the maximum total SBA-assisted loan amount available to a single borrower.
The Senate begins final deliberation on the Jobs Bill Monday afternoon, with the final vote likely Tuesday afternoon, September 14th.
If you believe that the Small Business Jobs Act will be good for your country and good for your car wash business now is the time to act. You can make a difference.
Click here to go to the easy steps to write to your Senators and Representative about the Jobs Bill:
http://www.carwashloans.com/Write_to_your_Senators_and_Representative_About_the_Jobs_Bill.html
These steps include pre-written text that you can use in your message or that you can change.
Alan Bussey
Last edited:
Red Baron
Active member
Alan, are you bumping this to the top? Sure seems like the same ol' tired rhetoric keeps finding its way to the top.
If I didn't know better, I'd say you might have a financial interest in this thread staying active...
If I didn't know better, I'd say you might have a financial interest in this thread staying active...
pitzerwm
Active member
Yes, Alan makes his money making SBA loans, in spite of that, I'm leaving it as the info, might be of interest to some.
My thought is "I'm from the government and I'm here to help you" [Bend over]
My thought is "I'm from the government and I'm here to help you" [Bend over]
Reds
Member
All of us face politicians and bureaucrats who claim to know what our problems are and then pass weak, election-year legislation to fix them. We need more customers, not more debt. Until taxes and deficits go down, no "jobs" bill is going to solve the problems business owners like us have. I believe that government programs brought this problem on and I don't support any more government "help". Especially help in the form of temporary write offs and other temporary gimmicks.
Red Baron
Active member
I'm reading Ted Nugent's book Ted White & Blue, which I bought for entertainment purposes, but I'm finding he actually has some pretty sound ideas on reducing the size of government. Which should be the goal. A few:
* Fair Tax
* Term Limits
* For every new law, 5 old laws must be eliminated
* Balance budget amendment
* Welfare for a very limited period of time
I'd add a few of my own:
* If you've been on welfare more than 12 months, you cannot vote unil you're off
* You cannot vote unless you can pass a simple test, e.g., who were the last 2 presidents and VPs, name the 3 branches of government
* No PACs or lobbyists
* No marble-walled courthouses or federal buildings, no intricate artwork on bridges...in short, all government buildings should be nondescript simple buildings that adhere to the neighborhood decor but no more
* Nonspecialized government workers should not make more than their private enterprize counterparts
The world according to Red Baron.
* Fair Tax
* Term Limits
* For every new law, 5 old laws must be eliminated
* Balance budget amendment
* Welfare for a very limited period of time
I'd add a few of my own:
* If you've been on welfare more than 12 months, you cannot vote unil you're off
* You cannot vote unless you can pass a simple test, e.g., who were the last 2 presidents and VPs, name the 3 branches of government
* No PACs or lobbyists
* No marble-walled courthouses or federal buildings, no intricate artwork on bridges...in short, all government buildings should be nondescript simple buildings that adhere to the neighborhood decor but no more
* Nonspecialized government workers should not make more than their private enterprize counterparts
The world according to Red Baron.
Ghetto Wash
Active member
- Joined
- Sep 11, 2007
- Messages
- 611
- Reaction score
- 43
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- 28
The one test I think you need to pass to get welfare is a drug test.
Red Baron
Active member
You heartless racist, you.
Alan Bussey
Member
And that includes nicotine. If anyone can afford to buy cigarettes they don't need food stamps, welfare, or any of that sort of thing.
Alan Bussey
