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Show The Enterprise Review, July 7, 1976 Page 5b Tats Misaka Goes to Bat for Minority Business Continued From Page lb academic background, thorough knowledge of the SBA, and his excellent rapport with all segments of the "economically disadvantaged" community. SBA leaders also credit him with "weeding out nine out of ten" potential applicants who seek help. (The SBA rejects a far lower percentage of applicants.) "He's honest with the 'economically disadvantaged' Salt Lake SBA Director Clair "He'll tell Hopkins noted. of them they shouldn't many be in business. His record is almost as good as the banks." Misaka, in turn, is generous in his praise of the SBA in Salt Lake City. He said the local office "has been very responsive, especially pared to other areas. com- The administration has been very cooperative with- - me in parti- cular." Still, the SBA machinery is not so finely tuned that some improvements can't be made, Misaka thinks. Among Although distinctively ence to better trained Caucaand proudly a "minority", sians. He feels they should be Misaka differs with some hired only if they can show an other minority leaders on the equal ability to do the job. For Tats Misaka, at least, advisability of hiring minorities to fill a quota in prefer that's no problem. other suggestions, he recommends a greater effort to inform the "economically disadvantaged" and a continued thaw in the "defensive" attitudes on both sides. ' " L" Utah Machine Tools 3240 South 11th East Salt Lake City, Utah 84106 Phone (801) 486-355- 1 SBA: Help or Hindrance? Continued from page 3b make the SBA more effective? Many suggestions are definitely controversial but there is surprising uniformity among SBA executives, bankers and customers on other recommendations. All agree that paperwork and red tape should be reduced and the waiting time for SBA approval on loans shortened. One way this could be accomplished, one bank executive noted, would be to make the banks solely responsible for determining whether a customer should receive an SBA loan. (Presently, the SBA rules on each loan, as well.) If the SBA did not have to make this decision, their approval could be obtained in a few days. Perhaps this solution would mean banks would put up more of the money for SBA loans. (Presently, SBA guarantees 90 percent of an average loan.) Perhaps, if the banks were solely responsible for determining if the loan should be made, they would be willing to allow the SBA to guarantee only 80 percent, for SBA office. SBA officials maintain that since both tutions are financially involved in the loan, they should share what information they have. Many businessmen could be better informed about the SBA, as well. During the first nine months of fiscal 1975, the SBA had a hand in 30 seminars involving 1,244 people. Yet, minority leaders in particular feel that information on how the SBA can help hasn't trickled down to the average citizen's level. One minority leader recommended better use of the media to "break down mental barriers". insti- Loosen Requirements Some minority leaders would also like an even further loosening of requirements for SPECIALS Lathes: loans. Presently, a businessman must have collateral to cover the cost of the SBA guaranteed loan. ("You have to be willing to give them your body and soul as collateral," complained one businessman.) Some have also suggested that the percentage of personal funds necessary to obtain a loan be lowered. The SBA's program of making direct loans at interest rates should also be expanded, one minority leader recommended. Bankers differ on whether the SBA should lend money to borrowers who don't even meet the requirements for SBA guaranteed loans. But at least one banker suggested that direct loans be expended to help firms get back on their feet after natural disasters. American 22" x 60", taper attachment. Summit 11" x 32", new tooled. Mills: Bridgeport BRJ 9" x 42". Cincinnati 4 universal 16" x 78". Drills: American radial 4 x 12". Saws sub-mark- et Wells horizontal 9" x 16". Shears: Hercules 12' x 12" hyd. Brakes: Chicago leaf brake 8' x 14 ga. Complete warehouse full of machine tools. All sizes and types. J NEW AND USED J Buy 'I Sell Liquidate , example. (Presently, the national SBA organization is closely watching pilot programs utilizing this concept.) Closer Relationship should also work more closely with its customSBA ers, some bankers and customers suggested. Many businessmen who receive SBA loans talk only to their banker, never anyone from the SBA office. Yet, the SBA would have a better "feel for the loan" by inspecting the business of a loan applicant, said Kim Bunker, commerical loan officer for First Security State Bank. Later, probing visits might also uncover businesses tottering on the brink of bankruptcy, he suggested. Bunker also recom- mended that the banker and SBA executive sit down with the applicant after each has studied the application. Then, problems could be quickly e rather ironed out mail. than by The banks, too, could also work more closely with-thSBA. Presently, some banks become aware that their customers are on the verge of defaulting on SBA loans, yet don't pass the word onto the face-to-fac- -- e Because ott's Dafte. We think the TV late news is aptly named. So is the Late Edition of your newspaper. Because by the time you get it, it is late. KWMS 1280 doesn't have any late news. Ours is all up to the minute, 24 hours a day. 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