According to Clopton Capital nearly every circumstance that will lead to higher demand in SBA loan volume is taking place currently. “There are trillions of dollars worth of commercial debt that are due to be refinanced in the two years, and banks haven’t become much more lenient about lending than they have been in the past three years. With unemployment at a near high for the last ten years and an unstable stock market, nearly all commercial borrowers will at least consider SBA loans as their salvation,” said Jake Clopton, the founder of Clopton Capital. Recently Clopton Capital has increased it’s resources significantly to provide these impending loan requests they expect to receive.

Currently Clopton Capital promotes two websites for the purposes of marketing their SBA commercial loans services and has recently invested in a third. They are informing nearly all their clients, even the one’s not specifically looking for SBA financing about the possibility that it might be their best chance to get a large loan funded. “We definitely want to get the word out now before the rush of loan applications begins to exist. We want every commercial borrower to know in the year 2012 that we have the resources to get them funded,” stated Eric Smith, the president of marketing at Clopton Capital.

Clopton Capital’s future plans involve continuing their growth via more relationships with more institutions who acquire SBA loans on behalf of their clients. They also aim to become the most well known SBA lender in America within the next two years via Internet and publicity marketing.

Clopton Capital can be contacted at their website CloptonCapital.com or at 866.647.1650 during regular business hours central time. Their website contains more specific information about their working capital products. Their website dedicated to SBA loans is SBABusinessLoanSource.

SFGate.com

Deadline to Apply for SBA Working Capital Disaster Loans in Kentucky is October 17

“These counties are eligible because they are contiguous to one or more primary counties in Tennessee. The Small Business Administration recognizes that disasters do not usually stop at county or state lines. For that reason, counties adjacent to primary counties named in the declaration are included,” according to Frank Skaggs, director of SBA’s Field Operations Center East.

“When the Secretary of Agriculture issues a disaster declaration to help farmers recover from damages and losses to crops, the Small Business Administration issues a declaration to eligible entities affected by the same disaster,” said Frank Skaggs, director of SBA’s Field Operations Center East.

Under this declaration, the SBA’s Economic Injury Disaster Loan program is available to eligible farm-related and nonfarm-related entities that suffered financial losses as a direct result of this disaster. With the exception of aquacultural enterprises, agricultural producers, farmers and ranchers are not eligible to apply to SBA, but nurseries are eligible to apply for EIDLs for losses caused by drought conditions.

The loan amount can be up to $2 million with a 4 percent interest rate for eligible small businesses and 3 percent for non-profit organizations with terms up to 30 years. The SBA determines eligibility based on the size of the applicant, type of activity and its financial resources. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition. These working capital loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred. The loans are not intended to replace lost sales or profits.

Disaster loan information and application forms may be obtained by calling the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) Monday through Friday from 8 a.m. to 6 p.m., and Saturday and Sunday from 9 a.m. to 5:30 p.m. ET or by sending an email to disastercustomerservice@sba.gov. Loan applications can be downloaded from the SBA’s website at www.sba.gov . Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

Completed loan applications must be returned to SBA no later than October 17, 2011. For more information about the SBA’s Disaster Loan Program, visit our website at www.sba.gov. Contact: Michael Lampton Phone: 404-331-0333.

Marketwatch.com

London, New York and Hong Kong remained at the top of the league, although London only narrowly clung to the premier spot, with “no significant difference” now between the three, the report’s authors said.

Researchers for the Global Financial Centres Index said that the capital cities of the weaker euro economies were “clearly suffering”, with Madrid down 11 places and Dublin down ten, while economies in the far East and the Nordic countries grew in stature.

Edinburgh has slipped dramatically from the initial GFCI report in March 2007 when it was ranked 15th in the world. Although its most recent rating of 632 was higher than its previous score of 600, Edinburgh was edged out of the top 30 by the increasing strengths of Osaka, Stockholm and Wellington.

Glasgow made its first appearance on the rankings in March 2008 at 22. Owen Kelly, chief executive of Scottish Financial Enterprise, said: “The large jump a few years ago in the ratings for Asian centres like Shenzhen and Shanghai is now entrenched, reflecting the shift eastwards of prosperity and influence.

“For Scotland, the scores have remained steady since the index was created although, like all European financial centres, we face increasing competition in the rankings from Asia and other emerging markets. “The welcome rise for Glasgow probably reflects recent major investments by companies like Barclays and Tesco Bank.”

Dimon’s beef was new capital rules that will force all banks to hold seven per cent core capital against risk-weighted assets, which Dimon calls “anti-American,” and says discriminate against U.S. banks. On Sunday, Carney warned global bankers to hold the course on reform. “It is hard to see how backliding would help,” he said.

Global banking regulators have agreed on new capital and liquidity rules for banks, and plan to begin phasing them in as of 2013. On Monday, Julie Dickson, Canada’s banking regulator, said the new capital requirement rules aren’t “anti-American.”

“Basel is anti the old way of doing things, for sure, but I don’t think I’d call it anti-American,” Dickson said.

Calgaryherald.com

Capital One says no risk in ING card unit deal

John Finneran, general counsel for Capital One, told the Federal Reserve at a public hearing in Chicago, monitored by webcast, that the bank’s credit card focus would not pose a risk to the financial system. ”The credit card market is substantially smaller, far less complex and far less impactful on the broader economy,” Finneran said.

Capital One is facing tough scrutiny for its proposed merger that would create the 7th largest U.S. bank by assets. Many are watching the regulatory review as a test case of how the Federal Reserve will treat large bank mergers after the market crisis forced taxpayers to bail out large financial firms.

McLean, Virginia-based Capital One gets over half of its revenue from credit cards and would access about $80 billion in deposits and 7 million new customers from ING. But Finneran noted that securitization accounts for less than 20 percent of the company’s total funding and noted that the card portfolio shrunk by $17 billion or 25 percent since 2008.

“This product diversification, combined with our conservative and industry-leading underwriting capabilities, helped make us one of only two credit card businesses not to lose money in any quarter during the Great Recession,” he said.

The Fed announced the hearings after Democratic Representative Barney Frank wrote a letter urging more scrutiny of the merger. Frank is one of the co-authors of last year’s Dodd-Frank oversight law that aims to get rid of the notion that some financial firms are “too big to fail.”

Many community leaders want the deal blocked and dispute Finneran’s claims that Capital One’s credit card focus poses no risk. ”By saying yes to this deal, the Federal Reserve will likely enable Capital One to account for more than 32 percent of all outstanding credit card securities in the (asset-backed securities) market,” said James Carr, chief business officer of the National Community Reinvestment Coalition, which has led the charge against the deal.

“Like the predatory and toxic subprime mortgages that eventually imploded — taking the entire financial system with it – Capital One’s credit-card business is poised to become the next subprime lending crisis for America,” Carr said.

Dodd-Frank requires U.S. regulators to take systemic risk into account when evaluating a merger, in addition to public benefit, concentration of resources, unfair competition and other factors. Reverend Jesse Jackson echoed Carr, drawing a parallel with Bank of America Corp’s (BAC.N) 2008 acquisition of Countrywide, which is faulted for that bank’s severe subprime mortgage losses.

“Like Countrywide, Capital One is pursuing a risky business model, where more than 75 percent of its profits come from a single source: credit cards,” said Jackson. The main difference, he added, is that Capital One’s “poison pill” is credit cards, not subprime mortgages.

Capital One announced on Monday it would create 500 new jobs in Delaware, where ING has its U.S. headquarters, by 2013 if the merger went through. In exchange, Capital One would receive $5.6 million from the state and a rebate of up to $1.5 million for local capital expenditures. The incentives would have to be approved by a state panel.

Capital One’s Finneran told the Fed his company’s job growth plans were “a rare bright spot” amid the tens of thousands of layoffs recently announced by banks across the country.

The company has also promised to make $180 billion in new community-development loans and investments over the next 10 years. Critics have accused the company of failing to extend Federal Housing Administration-insured loans to people with lower but agency-accepted credit scores, and steering borrowers to subprime credit cards instead of traditional loans.

Federal Reserve representatives also appeared skeptical, questioning Capital One about how they arrived at the $180 billion figure and where the money would be invested. Finneran and Dorothy Broadman, Capital One’s community development banking officer, responded that the allocation had not yet been planned. They refuted the claim that the company pushed credit cards on loan seekers.

“These hearings are very much like a tale of two cities,” said Sandra Braunstein, director of the Consumer and Community Affairs division of the Federal Reserve, to a panel opposing the merger.

“We have panels that come up such as yourselves that have very strong feelings about reasons to deny this application and then probably what will follow is a panel of folks who feel very strongly that the bank has done a very good job in the same communities that you have talked about,” she said. “I’m just wondering, how do we reconcile this?”

The Fed will hold a final public hearing in San Francisco on October 5. The public comment period on the proposed merger will close on October 12.

Reuters.com

From the British side in council – Tony Havord (ex-head BP), David Pitti (head of business ВР in Russia and Kazakhstan), Brian Gilvary (main financial director of group VR), lord Robertson Port-Ellensky. Besides, in council three independent directors – ex-German chancellor Gerhard Schröder, the head of the Russian union of industrialists and businessmen Alexander Shokhin and James Leng.

Formally appointment to the post of the chief executive of the third largest oil company of Russia already almost is expected two years by Maxim Barsky for whom for this time have created a post of the vice-president of board.

It was supposed that after adaptation within 2010 Lordly will enter a post of the head of the multinational corporation-BP from the beginning of 2011. But by the end of 2010 it became known that its appointment is again postponed. In July of this year Maxim Barsky has acted with the prevention to shareholders: if it will not be possible to agree under the introduction into a post by the end of this year, he intends to leave.

As the general director of company «Metaprocess» Cyril Ljats has declared on air of radio station BusinessFM, in the expert environment there is a version that appointment Lordly is blocked by Englishmen. Probably, they want to use this card for the auction with the Russian owners of holding.

«Russians are consolidated and operate very aggressively, use all administrative resources. Here such administrative resources, according to observers, are and including periodically arising searches and checks in representation VR. All possible threats of claims, sanctions, penalties etc. quite possibly that British can give the consent to a nominee of the new general director in exchange for the question decision under current claims to representation VR in Russia», – confirms Ljats.

The radio station notices that on the threshold of today’s board of directors, Russian holding in two with superfluous time have increased the judicial claims to ВР. Now they demand from the British corporation of payment of five billions dollars as the missed benefit, because of the broken alliance with Rosneft, on working out of the Arctic shelf.

In the multinational corporation-BP on the threshold of session in Cyprus the questions, concerning board of directors, have readdressed to shareholders – to consortium AAR and British BP. And in the Russian alliance of shareholders, and in the British oil company official comments have refused.

One week prior to council one of shareholders of the Russian-British oil joint venture Herman Han who now also is the chief executive of the multinational corporation-BP, has declared that the company still intends to advance Maxim Barsky on post CEO.

Kimberly High School

Heart of the Valley winners are: Ben Vanden Boogaard, Little Chute High School graduate, who plans to attend the University of Wisconsin-La Crosse; Alexandra Van Cuyk, Kaukauna High School graduate, who plans to attend the University of Wisconsin-Oshkosh; Courtney Gonnering, Freedom High School graduate, who plans to attend the University of Wisconsin-Stevens Point; Andrew Schultz, Kimberly High School graduate, who plans to attend the University of Wisconsin-Madison.

Other recipients were Marisa Thome, a graduate of Appleton North High School; Benjamin Lamers, a graduate of Appleton East High School; and Nicholas Anderson, a graduate of Hortonville High School.

The scholarship program is open to graduating high school seniors who are Capital members living in Outagamie, Calumet, Winnebago or Brown counties planning to attend an accredited post-secondary institution.

Postcrescent.com

People’s Credit Union Proven Today; Primed for Tomorrow

“This elite distinction is an honor, we will continue to work hard to stay at BauerFinancial’s highest level of strength and performance. We are proud to be a local financial institution that our members can trust,” commented Ellen Ford, People’s President & CEO.

That’s a combination that has been hard to come by the past couple of years. Yet, People’s Credit Union has managed to do it. With that, BauerFinancial bestows its highest 5-Star Superior rating on People’s Credit Union denoting the highest level of strength and performance that a credit union can receive. In fact, People’s Credit Union has earned this 5-Star Superior rating for the last 79 consecutive quarters putting it in an even more elite group of “sustained superiority institutions.” Only 7% of the nation’s credit unions can claim this distinction.

“Not only has People’s Credit Union proven its efficacy yesterday and today, it is also primed for whatever tomorrow may bring,” observes Karen L. Dorway, president of BauerFinancial. “The past three years have put a considerable amount of pressure on our nation’s financial system and we are pleased to see credit unions, like People’s Credit Union, still able to shine.”

People’s Credit Union serves members through six locations in Bristol, Middletown, Newport, North Kingstown, Portsmouth and Wakefield. People’s, a member-owned, state chartered, federally insured, community credit union established in 1922. Membership is open to all individuals. Deposits are insured up to $250,000 by the National Credit Union Administration (NCUA), an agency of the federal government.

BauerFinancial, Coral Gables, Florida, the nation’s leading independent bank and credit union rating and research firm has been reporting on and analyzing the performance of U.S. banks and credit unions since 1983. No institution pays BauerFinancial to rate it, nor can any choose to be excluded. Consumers may obtain star-ratings by visiting www.bauerfinancial.com.

Cuinsight.com

Wright Patt Credit Union

Mr. Bugger will join the Wright-Patt Credit Union team on September 19th. Tim Mislansky, Executive Vice President and CLO of Wright-Patt Credit Union explains, “Eric has great skills to help make Wright-Patt the lender of choice in the Miami Valley.

I think everyone knows Wright-Patt is here to help our members save more of their hard-earned money and one way of doing that is by borrowing smarter. So, we want more people to realize that when it comes to understanding the current economic conditions we are here for them and the best alternative for borrowing. We understand what people are going through and Eric will use his ‘out of the box’ thinking to bring much needed solutions to our members.”

Mr. Bugger studied Journalism and Political Science at Southern Illinois University at Carbondale and has a Masters of Art in Management from Webster University. Eric has been involved in the O’Fallon Sunrise Rotary, the O’Fallon Knights of Columbus, and the Southern Illinois Chapter of Credit Unions and is an American Collectors Association Scholar. He now lives in Beavercreek with his wife and two daughters

Established in 1932, Wright-Patt Credit Union is a member-owned, not-for-profit financial cooperative proudly serving the Miami Valley with over 210,000 members and $2 billion in assets. As a cooperative, Wright-Patt Credit Union joins members together, pooling financial resources to meet the needs of all.

The pooled resources provide the capital to run a strong and efficient operation. Wright-Patt Credit Union is headquartered in Fairborn, Ohio, and has 24 Member Centers throughout Southwest Ohio. Wright-Patt Credit Union’s mission is to help people through life by allowing members to achieve a greater degree of economic independence. Visit Wright-Patt Credit Union’s website at www.wpcu.coop for more information.

Central 1 Credit Union chief economist Helmut Pastrick.

It is expected that the call will formally be made on or before October 31, 2011, and will raise proceeds of approximately $100 million. These proceeds will qualify as Tier 1 regulatory capital and will be used by Central 1 for general corporate purposes.

Over the past several months, financial markets have been especially volatile, particularly given the issues facing the European Union and the impact that those issues are having on North American markets. The volatility has created some mark-to-market losses on Central 1’s balance sheet, which is primarily composed of financial instruments, consisting largely of Government of Canada bonds and guarantees, provincial government debt and senior Canadian bank debt.

While Central 1’s capital position is already strong and well within regulatory limits, the board of directors has determined that it is appropriate to increase Central 1’s internal capital targets as a prudent measure, based on this volatility and the likelihood it will continue for the foreseeable future. The capital call is intended to ensure Central 1 is able to meet revised internal capital targets and maintain a strong capital position.

Central 1 has 45 Class A members in B.C. and 116 Class A members in Ontario. At year-end 2010, their combined assets amounted to $72.6 billion.

Central 1 is the central financial facility and trade association for the B.C. and Ontario credit union systems, providing liquidity management, payments, Internet banking and trade association services to member credit unions, and banking and transaction services to customers in the corporate and public sectors. For more information, visit www.central1.com.

Stockmarketsreview.com