obviously, as a small-business person, each of you needs to understand, it is complex, but there are a lot of tax incentives and investment in business that you should take aware -- advantage of. >> we have two questions in the back. just to be mindful for everyone's time, we will go for about five more minutes. >> my name is david. i am an internet or entrepreneurs. in general, to the lenders, what type of vanity do you traditionally see approach you for loans, an llc, corp., and who is liable, for whose borrowing the money? >> as a micro lender, we expect the principles, the corporate form, to provide guarantees. >> personal guarantees. >> the same. 20% ownership in the company. [inaudible] >> [inaudible] >> i heard something about sba guaranteed loans. maybe i missed something. does that have to do with the sba guaranteeing the entity? >> the question on the sba guaranteeing a entity as the order of the business, whether it is a corporation or partnership, for any small business lending, you should expect to be guaranteeing that long personally. as a small-business owner, from a lender's point of view, we want to see that you are as invested in the business as you are asking the bank to be. the idea that non recourse loans, the way you describe it, loans that you get without having yourself personally liable is not the way it works. you should assume you will guarantee the loan regardless of the structure of your business. the good news, though, for businesses like you are describing, internet business, is that the capital requirements for that type of business is generally small. you are able to get yourself further along and share in revenues with a smaller amount of credit need. that is where we see a lot of businesses and personal service or internet business get started, and generate revenues and be able to show growth without needing any capital, like a brick and mortar business might. >> my name is terry said. i have a retail business in san francisco for 22 years. i have a 5 04 -- 504 loan. it took me three years to get. we need more capital. i tried to get a line of credit from wells capital. i was decline. where does someone like myself go? i have a loan, i need additional funding. >> did you try through the sba? >> i already have an sba loan. i went to wells fargo for a line of credit and they would not give me one. >> i can speak to you about it. when we look at funds that are needed, the biggest thing we look at our cash flow. i can address that with you. unless there is an issue, at that point -- [inaudible] >> let's talk, ok. >> i have a couple of more questions. i know that the panelists have agreed to stay after for those who have specific questions. i do have one question for wells fargo. what are the typical rules for applying for sba loan of less than $50,000? how much money do we need to have in your bank to apply for a loan? >> i am on the smaller side of the bank. i am a transaction guy. i do not technically require one to have an account to do a loan with. what i look for, i generally start at 100,000 and up. when it is a requirement of 50,000 or less, i tend to call of the micro guys to help me out. that is right in their box. for us, the capacity for us to do the smaller side is not there as much as it is for them. on getting a loan through my side of the bank, i do not require an account to do that. we would like to have it, but i do not require it. >> last question for the opportunity fund and a critic representative. are you a cdfi? is san francisco and s.p.a. in support of cdfi's being established in san francisco? >> yes, we are. we were founded in 1999 with a small business loan. that is how we started our tenderloin office. >> opportunity fund is a certified cdfi, so we are providing a benefit to low and moderate-income communities. he is the city establishing support for new cdfi's? >> mark wanted to address that, in support of cdfi's in the city. >> we have a wealth of partners in the city. s.p.a. is just now rolling out a program for r -- will be the case by the summer. let me get one last point and on the question about relationships to lenders. the question was, do have to have an account with a bank in order to get a loan? may answer is no, but the real answer to it is certainly want to do that. one of the things we see as an important thing for you, as a small-business person to establish a relationship with a lender on a variety of levels before you look for funding. part of that is opening an account with them, letting a lender know about your business, understand your business, talk to them as you are growing your business. when the economy is strong, all lenders are shopping for transactions. in times are tough on credit, you want to rely on those deeper liberation ships with your lender. you want to develop a relationship with a lender. it is the case where you want to open up an account, while to have another bank services that you want to have a relationship with your lender with it because when you go to them for any loan requests, you want them to know about your business and feel like they are a partner of yours, not just that you are shopping them. if you are shopping, you are just looking for the best deal from them, rather than a long- term relationship. >> i want to thank everyone for coming. hopefully, you have all signed up for our updates. we are going to be hosting these on a regular basis. the next two coming up will focus on becoming a government contractor, how your small business can partner with the government. the next one will also be on how to grain your business, with tax -- green your business, tax credits available with that. for non-profit, charitable organizations, we have a workshop coming up. that is helpful for those of you who are looking to access the committee on a durable basis. >> also, on behalf of leader pelosi, i want to thank our panel and her staff. we are tenants in this building. i apologize for the security situation that happened upstairs. if you have concerns about it, please come and see me. i would like to convey those to the landlord here so that it does not happen again. thank you. >> i have 2 job titles. i'm manager of the tour program as well as i am the historyian of city hall. this building is multifaceted to say the very least it's a municipal building that operates the city and county of san francisco. this building was a dream that became a reality of a man by the name of james junior elected mayor of san francisco in 1912. he didn't have a city hall because it was destroyed in the earth wake of 1906. construction began in april of 1913. in december 1915, the building was complete. it opened it's doors in january 1916. >> it's a wonderful experience to come to a building built like this. the building is built as a palace. not for a king or queen. it's built for all people. this building is beautiful art. those are architecture at the time when city hall was built, san francisco had an enormous french population. therefore building a palace in the art tradition is not unusual. >> jimmie was an incredible individual he knew that san francisco had to regain it's place in the world. he decided to have the tallest dome built in the united states. it's now stands 307 feet 6 inches from the ground 40 feet taller than the united states capital. >> you could spend days going around the building and finding something new. the embellishment, the carvings, it represents commerce, navigation, all of the things that san francisco is famous for. >> the wood you see in the board of supervisor's chambers is oak and all hand carved on site. interesting thing about the oak is there isn't anymore in the entire world. the floors in china was cleard and never replanted. if you look up at the seceiling you would believe that's hand kof carved out of wood and it is a cast plaster sealing and the only spanish design in an arts building. there are no records about how many people worked on this building. the workman who worked on this building did not all speak the same language. and what happened was the person working next to the other person respected a skill a skill that was so wonderful that we have this masterpiece to show the world today. mayor lee: thank you, everyone. i wanted to be here to welcome the prime minister from new zealand's. i know he is here. he is on a stopover in preparation for the america's cup, on his way, of course, to meet our president obama and talk about our two countries' mutual support and help. i would like to think that the prime minister was here primarily co view the competition -- was here primarily to view the competition that will be between us in 2013, with washington being a stop over. i want to welcome him here. i know he is here to not only speak for himself, but knowing that team new zealand has won the america's cup twice before, and in 1995 and 2000. they are going to be a very helpful. i am very excited about the america's cup. it will bring in some 8800 jobs to this city. it will really result in $1.4 billion of economic in come for our city, and that is why we're working very closely with michael thompson, are america's cup authority, as well as the president of our rec and park commission. and we work as a team and we know that team new zealand will be a tough competitor, but we also know as winners tell much this means to their economy and how much it means to was in san francisco. we enjoyed the prime minister's visit here. we have just discussed what this america's cup means to our bay area. perino it will be a great competition and a friendly supports -- of release sports competition as well. as you know, new zealand has experienced a very devastating earthquake. i want to continue to extend san francisco's support for their immediate recovery. we have joined people in christchurch and all over new zealand to help with their recovery. just recently, we held an earthquake management seminar here in san francisco that was attended by new zealand's officials to share our expertise and make sure we're doing everything we can, from sending over engineer help to talking to and exchanging the best earthquake management -- earthquake recovery management techniques that we have. we will continue to do that. charlotte shells, our protocol officer knows, we will keep our position as an international city, and the best way to do that is to offer all the help we could to areas lies -- like christ church in new zealand and to be a city that is supportive of their recovery and helping to instigate any ideas for a quick recovery. i know as prime minister key visits president obama our countries will work together and our mutual cooperation will be cultural and economic, but the city and council of san francisco is also there for new zealand. we look forward to from the competition, but we also look forward to help them recover as well. with that, i wanted to present a proclamation to his occasion to visit us and visit our bay, and by the way, prime minister, every day in san francisco is like this. [laughter] clear, enough when it for the sales. prime minister, if we want to present to you this proclamation, declaring it to be prime minister john key day in san francisco. [applause] prime minister. >> thank you for welcoming me, mayor lee, and my delegation here to san francisco. we have had a grave -- we have had a great 24 hours in san francisco and the bay area. we are getting a sense of what our team is doing in their san francisco home. yesterday and in the bay area, we've visited some of those very fast-growing companies to get a sense of how rapidly the opportunities are emerging. also, the people of christ church except the good wishes. with had three major earthquakes within the last nine months and aftershocks. i think the people of san francisco know from their tragic experience of 1996, the challenges that result after an earthquake, the great difficulty of dealing with that situation, and also we can see what a wonderful city you have built from the ruins of that quake in 1996. the people of christ church appreciate the heart and soul of the people on in san francisco. we look forward to competing in need -- in the louis vuitton and ultimately the america's cup. we hope to return that cup. we are up against very tough competition, i expect. obviously, i wish team america luck, but not too much luck. thank you for that. be enjoyed our experience. we are hosting another cup onion new zealand over the next couple of months, -- in new zealand over the next couple of months. lot of people have come to your city and to your town. finally, i want to congratulate the giants on their tremendous performance in the world series. i took my son here 18 months ago to watch them. at&t stadium has to be the model stadium. a beautiful stadium, packed to the rafters, obviously. we look forward to when football season starts up again later in the year. i am going to take my son to washington after the. we're going to take 48 hours, seeing president obama and a range of other individuals. it is an interesting and challenging time as far as what is happening in washington at the moment, and we look forward to looking at the challenges that face the united states and also the great opportunities. we thank the united states for its partnership. thank you very much. do you have any quick -- >> [unintelligible] >> absolutely. i think we can learn from each other. that is the significance of these relationships that we have, changing both engineers and professionals. we can definitely learned from christchurch. san francisco has been doing all it can. i have been the head of recovery planning since the last mayor. it takes a lot of partnerships and good planning and a focus on the vulnerable aspects. like we are focusing on our soft story buildings in the bay area. we will continue to also have a healthy city. a healthy city is one that is not as vulnerable. and economically healthy city. the have to invest in our infrastructure. that is not only a debate in the bay area. is also a debate nationally. how do we make sure of our infrastructure, whether it is bridges or roads. >> [unintelligible] >> you will find it takes a lot longer to rebuild a city? what's it generally does take a lot longer -- >> is generally does take a lot longer to rebuild. you can expedite recovery. you can literally cut it in half. that is what we're trying to also instill in other cities that we talk with, exchanging information. recovery is about preparation. it is a mind-set that right now, i am actually educating residents of san francisco to think about recovering now, for its people, as well as its communities and the buildings themselves. investing in infrastructure, making sure they are safe is one part. the other part is -- people do not have to leave the city. they can rebuild right away and know that local government is there to want to build. said the investment is important. -- so, the investment is important. i know in new orleans, one of the big criticisms is that no one met with the business community to suggest that they stay and rebuild right there. we learned that lesson, and we are here, right now, suggesting to our businesses, we want them to stay. we want the infrastructure. we want our utilities to recover immediately. >> [unintelligible] what are the examples? mayor lee: i think at an average it would take at least 10 years to rebuild san francisco after the major earthquake they are predicting. we are working on a plan that would be three to four years maximum. that is what we would like to see. >> [unintelligible] mayor lee: absolutely. otherwise you lose all the other major businesses. may have to know we are working on this right now. >> [inaudible] [laughter] >> we certainly have the wind. we have the wind at our back. it is gorgeous. it is amazing. you will display the america's cup to an audience that will pack in on the shores your. that is quite an opportunity. it is wonderful to visit the city and the region. it is a magnificent