Talk, the dominant in the purple suit has been handing me question cards out. I am the ne Community Federal community union. We are like a bank except we are nonprofit. We are 501 c 14. We are insured up to 250,000. We build credit. What we do a lot is oneonone counseling. We are also a part of the bank of San Francisco, so we do pay their lending payday lending. We help people build up their credit before helping them to get a bigger loan amount. Especially people who want to start a Small Business. Credit unions offer micro loans. We do a lot of micro loans up to 50,000. This is we check credit. We need a business plan. Then we look at the threeyear tax return and that statement. We do a lot of home care and momandpop shops. We also do start ups. We asked for approval through documents. We work a lot with people who do not know how to file taxes properly. We are mainly focused in San Francisco. We are small. We focus mainly on the tenderloin, chinatown, bayview, visitation. We do a l
Delinquent rate is quite low because we are working with a client. We want to keep that low and as part of our mission. There is no application fee. If you are interested in an application or information, i have brochures, or you can give us a call. Thank you. Next is marked with wells fargo. Hello, i work for wells fargo bank. I cover the Northern California region. I usually focus on about 350 350,000 of sbe loans. Last year, for 2010, i did 43 loans. So we are lending. I usually focus on six different types of loans. Startups, business acquisitions, real estate purchases with tis, working capital, a partner buyouts, business expansion. When i am looking at a potential loan, i use the standard five cs of credit. The first one is character. What we are looking for is a minimum score around 640. We would like to say no recent bankruptcy foreclosures, bankruptcies, tax liens. If we see a loan that has been modified, we would like to see a reason it was modified, what ever reason it may
The first one is character. What we are looking for is a minimum score around 640. We would like to say no recent bankruptcy foreclosures, bankruptcies, tax liens. If we see a loan that has been modified, we would like to see a reason it was modified, what ever reason it may be. It cannot be, i did not want to pay that payment any more. The second c, conditions. Basically, how precise will the money be used . We are looking at a business plan. When you look at a business plan, that is just a start up. We are looking to see where there will be the need for lending. If you are an existing business, we want to see the money that we give you goes to the growth of your business. The third c is capital itself. Basically, how much of yourself had the how much capital haveu invested . If you are a startup, and generally, 30 . If you are an expansion, you are looking to expand your restaurant, that is generally around 20. The fourth c is capacity. Capacity is pretty important. That is the abili
Tax return and that statement. We do a lot of home care and momandpop shops. We also do start ups. We asked for approval through documents. We work a lot with people who do not know how to file taxes properly. We are mainly focused in San Francisco. We are small. We focus mainly on the tenderloin, chinatown, bayview, visitation. We do a lot of expansion. People start small through the credit union and then want to go to the bank. We know we are limited. We cannot afford to give out a big loan. Starting from the credit union, we educate them about filing taxes properly and then moving on to the bank, a small one, expansion, and we work with the bank. The bank and credit union are similar. We do allow tax returns, projections. Credit unions do not charge an additional loan or processing fee. Processing time, on a small loan, consumer loans probably a few days. Because we require a business plan, sometimes it takes longer. Business plans take a while. Especially bank statements. We need t
To 50,000. This is we check credit. We need a business plan. Then we look at the threeyear tax return and that statement. We do a lot of home care and momandpop shops. We also do start ups. We asked for approval through documents. We work a lot with people who do not know how to file taxes properly. We are mainly focused in San Francisco. We are small. We focus mainly on the tenderloin, chinatown, bayview, visitation. We do a lot of expansion. People start small through the credit union and then want to go to the bank. We know we are limited. We cannot afford to give out a big loan. Starting from the credit union, we educate them about filing taxes properly and then moving on to the bank, a small one, expansion, and we work with the bank. The bank and credit union are similar. We do allow tax returns, projections. Credit unions do not charge an additional loan or processing fee. Processing time, on a small loan, consumer loans probably a few days. Because we require a business plan, so