Business Briefs for Feb. 10-12
February 9, 2010
More people are flying into Salt Lake City
The Salt Lake International Airport recently reported a two percent increase of passenger traffic over last year.
Venture capital conference in Midway Thursday
In conjunction with the 26th Annual Investors Choice Venture Capital Conference at the Zermatt Resort in Midway on Feb. 11, the Wayne Brown Institute will hold a special seminar "How to Raise Money in Utah." Featured topics include "What’s happened to venture capital?" "Building a deal that can raise capital," and "Finding your first dollar." Over 200 venture professionals are anticipated to be in attendance.
SBA loan cap increased by $650,000
President Barack Obama is proposing to temporarily increase the maximum Small Business Administration (SBA) Express Loan size to $1 million, which a press release said would expand the program’s ability to help a broad range of small businesses through a streamlined approval process. Unlike traditional 7(a) loans, lenders can use their own paperwork for SBA Express loans, which can be structured as revolving lines of credit. Currently, these Express loans are capped at $350,000 and carry a 50 percent guarantee. Fees would cover virtually all of the added costs of this proposal.