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June 13, 2003     Cape Gazette
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June 13, 2003

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+ CAPE GAZETTE, Friday, June 13 - June 19, 2003 - 45 SBA to host variety of events during 50th anniversary The U.S. Small Business Administration (SBA) turns 50 this year, and in Washing- ton, D.C., and dozens of cities across the country, the SBA will spotlight the entre- preneurial heroes who have started and grown small businesses as it marks this an- niversary. In addition to honoring 50 years of small business success, the agency is looking to- ward the future. At 10 public forums start- ing, in October and ending in April 2004, citizens will discuss the needs of small businesses and what the SBA can do to bet- ter assist them. The forums will be de- signed to listen to and record what Ameri- can entrepreneurs find relevant. "The president and I recognize the vital role small businesses play in creating op- portunity for millions of Americans," said SBA Administrator Hector V. Barreto. "His small business agenda is designed to create an environment where entrepreneur- ship can flourish by providing small busi- nesses with the information they need to succeed, saving taxpayer dollars by ensur- ing open competition to government con- . ed. tracts, and tearing down regulatory barriers to job creation." National recognition of the agency's 50th anniversary kicks off, Aug. 1. at The Dwight D. Eisenhower Library and Muse- um in Abilene, Kan., where the signing of the Small Business Act by President Eisen- hower, July 30, 1953, will be commemorat- Continued on page 46 SBA announces small businesses loans available for FY03 The U.S. Small Business Ad- ministration (SBA) recently an- nounced that $1.4 billion in addi- tional loan authority will be made available for small business lend- ing for fiscal year 2003. As a re- suit, lending authority in the agency's primary business loan program, 7(a), will increase to al- most $11.0 billion. "Hundreds of small business owners and entrepreneurs looking to start a business will benefit from this new loan authority," said SBA administrator Hector V. Barreto. "The SBA is already un- derwriting a record number of loans in this, its 50th year, and this new loan authority will add to our capacity to help small business- es." The new loan authority will be made available by applying a new 7(a) econometric subsidy model to the STAR program for FY 2003. The STAR, or Supplemen- tal Terrorist Activity Relief, pro- gram, was established to assist small businesses affected by the terrorist attacks of Sept. 11, 2001, and was in effect through January 11, 2003. From October 1, 2002 through January 11, 2003, $1.663 billion in STAR loans were made. CONTROL It's like having storm shutters with a view. Kas Naylor named as top rental agent Coldwell Banker Resort Realty recently announced Kas Naylor is the top Rental Realtor for May 2003. Naylor has been a rental re- al estate agent for more than 14 years, spe- cializing in re- sort rental properties throughout Dewey Beach and Rehoboth Beach. Naylor NAYLOR brings a unique combination of experience and knowledge to customers throughout the East Coast, match- ing vacationers with beach con- dos, townhouses and cottages. She supports and participates in numerous local community activ- ities including the celebration of the popular Autumn Jazz Festival, serving as a long-time board member. Naylor will move from the rental to the sales department at ColdweU Banker Resort Realty in July. Coldwell Banker Rehoboth Re- sort Realty is an independently owned and operated residential and commercial real estate com- pany with two offices in Lewes and Rehoboth Beach. Since its founding in 1979, Coldwell Banker Resort Realty has become an industry leader in residential real estate with a niche for resorts, new homes and luxury properties. In addition to one of the largest rental staffs in Sussex County, clients are given comprehensive buying, selling, leasing, acquisi- tion, disposition, and manage- ment services. Coldwell Banker can be reached seven days a week at 227-5000. WELLS HOME FARGO MORTGAGE / The Nation's leading retail mortgage lender* Conventional Loans Purchase and refinance Primary, second homes & investment properties Construction Loans for new homes Knowledgeable, Honest and Reliable Competitive rate financing available on all types of residential properties. Dedicated to Exceptional Service. Call Me Anytime for an Appointment. 4398 Highway One, Suite 6 Rehoboth Beach, DE 19971 Office (302) 226-4074 Toll Free (888) 217-5700 Fax (302) 227-5710 ,, "oedled n stalillcs I/ksddO  F'NII 1 /31/1" wall FIIIO Hnw Mdl0mO' Inc" {0inmoO rnOdgm0e Iem in N HkllplJlln IllJllt UlII1Ot NO, "'/ Of l[lld nllxl0tll lnd Ucllllo No, 5708 MHL 1o Ilkx'ld  Ild Iii II  ,   a n, Umm  .O  Wa* r-ee t  tr. a a Pao raeat By applying the new model to the STAR program, the estimated cost of the program declines dra- matically. This frees up $12.3 million that will now be trans- ferred to the 7(a) program to make loans to small businesses. Since January, some loans approved through the STAR program have been canceled, allowing the SBA to transfer about $2.8 million in additional funds tO the 7(a) pro- gram. Together, these transfers support approximately $1.449 bil- lion in additional 7(a) loans. 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