Pursuant to the Small Business Jobs Act of 2010, the Small Business Administration (SBA) is implementing a new program starting February 28, 2011 to enable small business to refinance existing owner-occupied commercial real estate mortgages through its 504 loan program. Previously the 504 Loan Program was only available for new development, construction and expansion. For a limited time (February 28, 2011 thru September 27, 2012) it can now be used to refinance an existing owner-occupied commercial [...]

Existing law governing limited liability companies (LLCs), the Beverly-Killea Limited Liability Company Act, prohibits domestic and foreign LLCs from rendering professional services in California. See California Corporations Code §17375. "Professional services" is defined as "any type of professional services which may be lawfully rendered only pursuant to a license, certification, or registration authorized by the Business and Professions Code, the Chiropractic Act, or the Osteopathic Act." See California [...]

Small Loan Advantage and Community Advantage 7(a) Loan Initiatives

On February 15, 2011, the SBA is rolling out two new loan initiatives aimed at increasing the number lower-dollar loans to small business in underserved communities: (1) Small Loan Advantage and (2) Community Advantage 7(a) Loan will both offer a streamlined [...]

On September 27, 2010, President Obama signed into law the Small Business Jobs Act of 2010. The Small Business Jobs Act of 2010 not only increases and extends a number of the tax incentives originally included in the Economic Stimulus Act of 2008 and the American Recovery and Reinvestment Act of 2009 (“2009 Recovery Act”), but also adds some new [...]

The new health reform laws (Patient Protection and Affordable Care Act) enacted in March of 2010, give certain eligible small employers a tax credit if the employer provides health care coverage to their employees. The tax credit applies to employers with less than 25 full-time employees with average wages below $50,000 per year. To receive the tax credit, the employer must pay at least half the health insurance premiums for their employees and meet various other eligibility requirements which are highlighted [...]