SAVE THE DATE- Networking Luncheon

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New Member Spotlight – East Oahu Realty

East Oahu Realty is recognized as a dominant force in the real estate market on Oahu. Our exceptional and exclusive marketing programs, innovative technology, and experienced sales team combine to provide our clients the best exposure for their unique properties! Our team of experienced real estate professionals provide outstanding service and are committed to extraordinary client representation.

Whether buying or selling a beachfront estate, an exclusive property, a single family home or condominium, East Oahu Realty understands the complex real estate market and we are equipped with the necessary skills and marketing tools to satisfy even the most discriminating client. East Oahu Realty will offer the best possible personalized service.

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New Member Spotlight…

Reg Baker 

Reg Baker, a partner at CPA firm PKF Pacific Hawaii and former executive vice president of the Hawaii Medical Assurance Association, was recently appointed chair of the Region IX Regulatory Fairness Board of the U.S. Small Business Administration.

SBA Board Meeting in Washington DC

I recently returned from my first National SBA Regulatory Fairness Board meeting in Washington DC. What an exciting and eye opening experience!

The Board had about 25 Board members from across the United States in attendance. These Board members were evenly split between non-profit small business support organizations and actual small business owners. For lack of a better term they were activists for small business interests. As expected, it was a very vocal group and the SBA Administrator and her staff was very supportive of hearing about the various suggestions to support small business success across the country.

During the 3 day Board meeting we heard testimony from various small business owners about their challenges and brainstormed various improvements to the small business environment in the US. On day one, we heard testimony about federal contracting issues and laws that was causing harm to small business success. There was discussion on how to address the issues and the changes that might be needed. During the remaining two days of Board meetings, each district was asked to discuss their district issues and challenges and all Board members joined in to offer advice and recommendations on how to begin the process to address the challenges. I represented District IX (Hawaii, California, Arizona, Nevada, Guam and America Samoa) and I presented the challenges of the Jones Act, the Affordable Care Act, Water Rights and Independent Contractor challenges. I also encouraged the SBA to evaluate the support provided to what I felt was the underserved areas of Guam and America Samoa.

The Board formed Working Groups to address specific issues that had the potential to impact all Districts. The working groups included Workforce Management / Labor, Government Contracting, Outreach & Visibility and Access to Capital. Because of my back ground and experience I was asked to serve on both the Workforce Management / Labor (which includes healthcare and ACA) and the Outreach and Visibility working groups. I was also asked to serve as Chairman of District IX.

I am excited about the opportunity to represent Hawaii, Guam, American Samoa and the other states of District IX in our nation’s capital. This provides us a local voice in Washington, DC, that combined with our elected delegation, has the potential to be a powerful influence to improve the regulatory environment for our very important small business community.

Reg Baker, in addition to Chairing District IX of the SBA’s Regulatory Fairness Board is a CPA practicing in Hawaii, Chairs the Executive Committee of PKF Pacific Hawaii and was formerly the Executive Vice President, COO and CFO of HMAA. Baker also serves as Chairman of Junior Achievement of Hawaii, Chairman of the Small Business Committee of the Hawaii Chamber of Commerce and has served two terms as Chairman of the Hawaii Society of CPA’s.

 

Small Business Update -SBA loans on hold…

Industry News,Banking & Financial Services

Courtesy of : Pacific Business News

SBA loans on hold; queue set up for 7(a) loans until more money is found

The Small Business Administration, its lenders and small business groups are urging… more

The Small Business Administration has instituted a waiting list for its flagship 7(a) loans because the program hit its annual lending cap of $18.75 billion on Thursday.

SBA officials, lenders and small business groups are urging Congress to raise the program’s authorization to $23.5 billion in order to free up loans for small businesses. Demand for the program is high because the government-guaranteed loans are the primary source of long-term loans, which feature lower monthly payments, for small businesses.

In recent weeks, lenders have been rushing to get loans processed for their clients, in anticipation that the cap would be reached. That has accelerated 7(a) lending to a fever pitch — more than $3 billion SBA loans have been processed since the beginning of this month. That’s more than five times the normal volume, according to the SBA. Loans on the SBA’s waiting list will be approved in their order in the queue as more funding authority becomes available, either through congressional action or by cancellations of already-approved loans.

In a letter to members of Congress, Small Business Majority Founder and CEO urged them to quickly raise the SBA’s lending authority in order for the agency to meet the demand for these loans.