November 2018
Current Interest Rates
10 Year Loan

4.84%
20 Year Loan

5.15%
20 Year Refinance Loan

5.18%
NEW 25 Year Loan

5.20%
Note: The monthly effective interest rate includes the SBA debenture note rate, monthly servicing fees, including CSA fee (0.1%), the CDC fee (0.625%) and the Borrower fee (0.938%).
SBA Reaffirms Its Commitment to Economic Development and Job Creation
In a technical issues notice from the U.S. Small Business Administration, the SBA Administrator signed off on provisions to increase the cap for job creation from one job per $65,000 in SBA loans funded to one job per $75,000 in loans funded, further affirming the SBA 504 program's commitment to economic development and job creation for the nation's job makers - Small Businesses. 

When a borrower receives an SBA 504 loan, they must also confirm that by purchasing a building or equipment; or by constructing a building or making improvements, they will create new jobs. If the business is not creating new jobs, the business must achieve a public policy goal, including one of the following:

  • Expanding a veteran owned, woman owned or minority owned business that is 51% owned by the veteran, woman or minority business person
  • The project is in a designated labor surplus area, a HUB Zone, or other business district revitalization
  • The project facilitates the expansion of an export based business
  • The project reduces energy use by 10%
  • The new building has a sustainable design
  • The business contributes to a community's community and economic development objectives and thus enhances economic competition

In California, SBA lenders are completing larger SBA 504 loans, thus the increase in the dollar amount per SBA dollars loaned will make the job creation goals more achievable. AmPac sees the benefit of this new provision for its past and future clients. 

Recent SBA 504 loans that created jobs and public policy impact:

  • A medical molding and technology center manufacturer acquired a building to expand, purchasing a $9 Million facility in Rancho Cucamonga, creating 20 new jobs and achieving the goal of expanding a woman-owned business 
  • A thermoforming manufacturer in Riverside that opened a new location in the midwest to better serve its clients back east and in the midwest closed its loan on a $16 Million new manufacturing plant creating 25 new jobs and expanding a woman-owned business 
  • A beverage company purchased a business and closed on a $4.9 Million industrial building in Oakland, creating and retaining 21 jobs and promoting community and area development

Economic development and job creation are the heartbeat of the SBA 504 loan program. The SBA is making it easier to fulfill this critical component of the program's mission.
Congressman Aguilar Announces over $640,000 for Inland Empire Affordable Housing and Small Business Programs
PRESS RELEASE

Rep. Pete Aguilar announced that the US Department of the Treasury awarded Neighborhood Partnership Housing Services, Inc. in Rancho Cucamonga $500,000 and AmPac Tri-State CDC, Inc. in Grand Terrace $141,000 through the Community Development Financial Institutions Fund (CDFI Fund).

The funding will assist the Inland Empire nonprofits in their mission to provide access to loans, down-payment assistance and home-improvement loans to first-time homebuyers throughout the region, as well as working capital and start-up capital for growing small businesses.
“From helping working families become homeowners to providing access to capital for small businesses, the CDFI is a great resource for our region. I’m proud to support this program because it helps Inland Empire families achieve the American dream of homeownership and allows small-business owners to create jobs and grow our local economy,” said Rep. Aguilar.
Faith Based Small Business Summit a Success

The 11th Annual Faith Based
Small Business Summit also known as Connecting Faith and Business Summit proved to be another successful event.

AmPac President, Hilda Kennedy said, "What an amazing night of the Movement of GOD! I am so grateful for all the principles that were taught with stories of challenges and victories!" 

Among the many highlights were the powerful stories shared by panelists, Senator Mike Morrell's award acceptance speech by video. New this year were roundtable discussions featuring an array of experts representing diverse industries.

Save the date for next year's summit: October 10, 2019.
Loans Closed Corner
Food Package and Thermo-manufacturing Company

Property: 242,512 square foot industrial building & warehouse
Year Built: 2016

Sales Price:   $16.7 Million


The Business
  • Business was established 2010
  • Business is headquartered in Riverside, CA
  • Manufacturers food packages, fully integrated PET thermoforming manufacturers, covering full production life Cycle starting from bales to flake, to sheet to finished products
  • Product offerings include multi-purpose containers

The Project
  • The project is a second loan for AmPac’s client headquartered in Riverside
  • The project allows the business to serve its midwest and east coast clients
  • Borrower leased the space and exercised her option to purchase the property with a 60-day escrow
Upcoming Events

November 15
RMA-IE Presents Tax Changes: How New Law Affects Businesses
11:45 am-1:15 p.m.
Ontario, CA

November 15
NAWBO-IE: Women of the IE in Politics
11:00 a.m.-1:30 p.m.
Riverside, CA

November 15
Spirit of the Entrepreneur
5:00 p.m.-9:00 p.m.
Riverside, CA

December 5
Mingle Bells Mixer
4:00 p.m.-8:00 p.m.
Riverside, CA