Economic Perspectives with Hopeton Hay on KAZI 88.7 FM in Austin, TX

Posts Tagged ‘Yolanda Olivarez’

SBA New Lending Initiatives Focus of Jan 31 Economic Perspectives

Posted by Hopeton on January 28, 2011

With small business owners and entrepreneurs in traditionally underserved communities continuing to face challenges accessing capital, the U.S. Small Business Administration announced two new initiatives aimed at increasing SBA-backed loans to small businesses in these markets.

Yolanda Olivarez

Yolanda Olivarez, Regional Administrator for SBA Region VI, which is headquartered in Dallas and includes Texas, Arkansas, Louisiana, New Mexico and Oklahoma, will discuss these initiatives on the January 31 edition of Economic Perspectives. Listen live at 5:30 p.m. on KAZI 88.7 FM or at kazifm.org.

SBA and U.S. Department of Commerce studies have shown the importance of lower-dollar loans to small business formation and growth in underserved communities. With that in mind, the two new loan initiatives – Small Loan Advantage and Community Advantage – are aimed at increasing the number of lower-dollar SBA 7(a) loans going to small businesses and entrepreneurs in underserved communities. The agency’s most popular loan product, 7(a) government-guaranteed loans can be used for variety of general business purposes, including working capital and purchases of equipment and real estate

Built on what the agency refers to as its “Advantage” platform, both Small Loan Advantage and Community Advantage will offer a streamlined application process for SBA-guaranteed 7(a) loans up to $250,000. These loans will come with the regular 7(a) government guarantee, 85 percent for loans up to $150,000 and 75 percent for those greater than $150,000.

Small Loan Advantage will be available to the 630 financial institutions across the country in the agency’s Preferred Lender Program (PLP). Under PLP, which includes most of the agency’s highest volume lenders, SBA delegates the final credit decisions to lenders.

SBA Administrator Karen Mills also today named Catherine L. Hughes, chairperson and founder of Radio One, Inc., and a former SBA borrower, to chair the agency’s new Advisory Council on Underserved Communities.

The Council will provide input, advice and recommendations on how SBA through its programs can help strengthen competiveness and sustainability for small businesses in underserved communities.

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Regional Administrator To Discuss SBA Loan Programs on Economic Perspectives May 17

Posted by Hopeton on May 15, 2010

Yolanda Olivarez

Yolanda Garcia Olivarez, Administrator for the U.S. Small Business Administration Region VI, will provide an update on the Obama Administration’s special loan initiatives through the SBA on the May 17 edition of Economic Perspectives, 5:30 p.m. – 6 p.m. on KAZI 88.7 FM.  Listen live online at kazifm.org.

As Regional Administrator, Olivarez is responsible for the delivery of the agency’s programs in Region VI, which is headquartered in Dallas and includes Texas, Arkansas, Louisiana, New Mexico and Oklahoma.  The SBA helps Americans start, build, and grow businesses.

Before joining SBA, Olivarez has spent more than 35 years in the trade, commerce and financial services industries.  Since 1995 she has been a senior vice president/commercial lender and business development officer at Wells Fargo Bank.  She also served 12 years as a Port Commissioner for the Port of Corpus Christi, where she led public finance bond projects for government entities on the state and federal level.  Olivarez was the first woman and Hispanic to chair the commission in its 75 year history.

Posted in Banking, Interview, Radio, Small Business Loans | Tagged: , | Leave a Comment »