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The Glenville Democrat
Glenville, West Virginia
March 12, 2009     The Glenville Democrat
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March 12, 2009

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llll _ _ , ...... - .... l_ _= - _  _ Illllllll_ _ . . . • 1 SBA Applauds Stlmu us Bill, Planning Underway for Broadest, Quickest Small Business Impact The American Recovery and Rein- vestment Act contams a package of loan fee reductions, higher guaran- tees. new SBA programs, secondary market incentives, and enhancements to current SBA programs that will help unlock credit markets and begin economic recovery for the nation's small business sector• "The tax incentives and credit stimu- lus elements of the Recovery Act will truly help small business owners af- fected by the credit crunch, and will provide financing opportunities to help them create new jobs in their communities." said Acting SBA Ad- ministrator Darryl K. Hairston. "There's a lot to digest in the legis- lation, and SBA has established teams to tackle a wide variety of policy. decisions, system modifications, regu- latory changes, legal requirements, and new program launches authorized by the President aqd Congress." said Hairston. The bill provides $730 million to SBA and makes changes to the agency's lending and investment pro- grams so that they can reach more small businesses that need help. The funding includes: • $375 million for temporary fee reductions or eliminations on SBA loans and increased SBA guaranteed shares, up to 90 percent for certain loans; • $255 million for a new loan pro- gram to help small businesses meet existing debt payments; • $30 mdhon for expandmg SBA s Microloan program, enough to finance up to $50 million m new lending and $24 million in technical assistance grants to microlenders; • $20 million for technology sys- tems to streamline SBA's lending and oversight processes: • $15 million for expanding SBA's Surety Bond Guarantee program; • $25 million for staffing and to meet demands for new programs; • $10 million for the Office of In- spector General The bill also authorizes refinancing for certam SBA loans so borrowers can expand their businesses on favor- able terms, and expands leverage ca- pability for Small Business Invest- ment Companies. "We are going to be part of the solution, and this bill gives us specific tools to make it easier and less expen- sive for small businesses to get loans. give lenders new incenttves to make 'more loans, and help restore healthy SBA secondary markets to boost li- quidity," Hairston said. noting also that more details on implementation will be coming over the next few weeks. The stimulus bill takes a compre- hensive approach and attacks several problems facing small businesses at once by reducing fees, guaranteeing a greater share of certain loans, expand- ing capacity in the Microloan pro- gram, providing new loans to help small businesses keep their doors open through economic hardship, as well as new mechanisms to help unfreeze the secondary markets for SBA- backed loans. Declines in SBA lending volume last year, which are continuing m FY 2009. reflect problems in the broader credit markets and present hurdles to small businesses that are seeking credit in the current economy The financial crisis has created a variety of condi- tions that impact small businesses. including a lack of liquidity in the banking system, a reluctance of many lenders to extend new loans, tight- ened credit standards, weaker finances at small businesses, and uncertainty about taking on new debt on the part of many entrepreneurs. The Recovery Act addresses small businesses' lending problems and ad- dresses key investment and contract- ing issues. The bill helps Small Busi- ness Investment Companies better leverage investment capital to reach more small companies. The bill also increases the current contract limit for SBA's Surety Bond Guarantee pro- gram. which will help small busi- nesses compete for contracts. 90 Percent Guarantee The bill allows SBA to raise its loan guarantee from the current levels to as much as 90 percent for some loans. At present, SBA can guarantee loans up to 85 percent on loans up to $150,000, and up to 75 percent on loans greater than $150,000. The 50 percent guarantee on SBA Express loans would remain unchanged. In- creasing the SBA guarantee percent- age will encourage lenders to extend more capital to small businesses by increasing the share covered by an SBA guarantee. Business Stabilization Loans The bill creates a new S BA loan progrz/m to provide deferred-payment loans of up to $35,000 to viable small businesses that need the money to make payments on an existing, quali- fying loan for up to six months. These loans will be 100 percent guaranteed by SBA. Repayment would not have to begin until 12 months after the loan is fully disbursed. The bill provides $255 million for this new program. These loans will help ensure that small businesses have time to re-focus their business plans, in order to succeed in the long run. Microloans The bill expands SBA's Microloan program, which provides small loans (up to $35.000)paired with technical assistance to start-up, newly estab- lished or growing small businesses. The bill provides funding to increase loans from SBA to participating Microlenders by $50 million through September 30. 2010, and adds $24 million in grants to provide technical assistance to borrowers. Historically, these loans reach low-income indi- viduals, women and minorities m both rural and urban areas. Expanding this program through the stimulus bill will help ensure these entrepreneurs are not left behind in the credit crunch. Refinancing The bill also gives SBA the power to use the 504 Certified Development Company program to refinance exist- ing loans for fixed assets, providing fresh support for small business ex- pansion. This change will help busi- ness owners expand their current de- velopment projects and create jobs in their communmes. Secondary Market Expansion The bill authorizes SBA to estab- lish a secondary market for pools of "first lien" loans under the 504 pro- gram These "first lien" loans from commercial lenders currently have no SBA guarantee. The bill autho- rizes SBA to deploy federal guaran- tees for pools of these first lien loans, so that they canbe sold to investors in a secondary market. Providing li- quidity for these first mortgages will help encourage lenders to continue pamcipating in SBA's 504 loan pro- gram, which provides a key source of capital for community development and other projects. The bill also empowers SBA to set up a Secondary Market Lending Au- thority that would make direct loans to broker-dealers that participate in the secondary market for SBA-guar- an,teed 7(a) loans. These broker-deal- ers would use the funds to purchase SBA-backed loans from commercial lenders, assemble them into pools and sell them to investors in the secondary loan market. This program may help address some of the issues facing the secondary market for SBA loans and may ultimately help SBA lenders make new loans to borrowers. Investment Program The bill helps SBA-licensed Small Business Investment Companies (SBICs) and families of SBIC funds better leverage the capital they use to invest in small businesses. The bill sets maximum levels of funding the agency can provide to-these compa- nies at up to three times the private capital raised by those companies, or $150 million, whichever is less. It also raises the percentage any one SBIC can invest in a single small business to 10 percent of total capital, and raises from 20 percent to 25 per- cent the percentage of any licensee's dollar investments that must be made m "smaller" businesses. Surety Bonds The bill also raises the maximum contract amount,that can be co,ered by an SBA guaranteed,surety boad from $2 million to $5 million, arid. under certain circumstances, for con- tracts amounting to $10 million, and provides additional funds to cover the costs of expanding this program. Small businesses need surety bonds in order to bid on and obtain many federal and other contracts. SBA guar- antees surety bonds to small busi- nesses that private surety companies would not otherwise be able to ex- tend. Support Local, Small Schools ! Dear Editor: On Feb. 6. I had occasion to attend a fundraiser at Normantown Elemen- tary School. If one has never seen a donkey basketball game. I would highly recommend it. The entertain- ment value is over-the-top. As an alumnus of Normantown. I sadly ad- mit that I hadn't been inside the build- ing in more years than I can count. My first impression was two signs in the front window. One said "Citizenship," and the other, "Keep Out." Oh, the irony! It saddened me to see the state to which the facility has fallen. How- ever, once inside, things looked bright indeed. As we entered the gym, a wave of nostalgia overwhelmed me. There were the familiar wooden floor and bleachers where I spent my earliest years sitting for games, dances, choir practice, gym class, graduations, and assemblies. I was surrounded by the familiar laces of friends, neighbors. classmates, and family. Children were playing on the gym floor, shrieking with laughter. And I was struck by a notion: Normantown Elementary School isn't a building. It's the people inside who make it important. It's the community surrounding it that makes it important. It's the love of that com- munity for its young people and their futures that make it vital. [ got a good education at Norman- town. I was surrounded by honest, intelligent, carihg adults, who did their utmost to prepare me for the rest of my life. As a result of those people, I chose and was able to pursue a career in education. I now teach English in a school of 850 students. And coming from Normantown and having now had both experiences, I can tell you that smaller is better. Local is better• The case for consolidation of schools is weak on all fronts. Finan- cially, one of the largest expenses of any school system Is transportation. As the cost of fuel continues to rise, so will the cost of transportation. Why continue to feed a monster that obvi- ously has a bottomless stomach? Re- search has shown a negative impact on the health.of children who spend extended periods of time on school buses. Putting six-year old children on a bus at 6:00 in the morning for a bus ride of well over an hour should be illegal• Security? Ahhh. security, that old bugaboo that gets dragged out to make a care for wahtever issue is lying close at hand. How many "situations" have arisen at Normantown during its many years of extstence? We had a great security system when I was at Nor- mantown. Her name was Billie Sum- mers. Nothing got by her. "Times have changed!" they cry. "We need tighter security ! It's a different world!" How different is Normantown? How different is any small community struggling to keep its local school? Security, my friends lies within our small communities. It lies within that system of adults that looks out for our children, both inside and outside the school. Nostalgia? Am I deluding myself in the lace of these "new times that call for tighter security?" Practi- cally, answer me this: If. God forbid, a sttuation SHOULD arise, is it better to have all of our students in one big pile miles away l¥om home, or is it better to have them in several small piles within arm's reach of the adults who love them? Academically, smaller is better, too. Again, I teach in a school of 850 students. I have classes with as many as 33 students. I do the best I can. but the personal attention I received at Normantown was by far better than anything [ can manage in such alarge, impersonal environment There sim- ply isn't enough time in a 45 minute class period to have one-on-one time with 33 people. It isn't just academics• As a jamtor, would one rather clean up after 100 people or 850? Cooks? Same. Administration? Yep. Support personnel, ditto. Do we need a new school in Nor- mantown? Perhaps. Are we emotion- ally tied to that building because our parents, grandparents, and siblings matriculated there? Definitely. I can- not attest to the fundamental sound- ness of the structure. But I CAN attest to the fundamental soundness of the connunity, and if a new building is needed, build it- IN NORMAN- TOWN. Tough times, they say, call for tough choices, The choice before us is quite sxmple: Continue to support small, local schools, which have been suc- cessful since the inception of the American educational system, or pour millions of dollars into building huge new schools that. despite their shiny newness, don't serve out students. Small is better. Vote and act LO- CALLY. Shelly Allen Stumptown WE NEED NEW LISTINGS T . CALL MARY LEE TO LIST YOUR PROPERTY 12009 Garden Calendas aPPe now 1 available in the Extension Office No matter how thin you slice it, it's still a lot of baloney. --Alfred E. Smith Thursday, March 12, 2009 -- The Gienville Democrat/Pathfinder Page 9A REALTOR" Town Countql AGENCY INC. #207 - 413 NORRIS ROAD - 3 BR home has LR. DR-kitclilF},t{ti , or office, storage H alai[iA. fenced corner lof;a{ lsllkftJas laundry area. 2 covered'brkl$1,'00 ........ i16 i ''''''' i;iii 7711111 ..... "'I #1800- STEWARTS CREEK - Older country home has been completely remodeled. Home has LR. Parlor or BR. DR-Kitchen. 2 BRs and bath. House is completely furnished with antiques that are included in the sale• Property contains 67 1/4 acres, has 2/5 minerals, free gas being used. There is a cellar & cellar house and a barn. 3 miles from town• Priced at $200.000 #101-CEDARVILLE- 2 story house and three lots. House has great room with living room. dining room. and kitchen. Upstairs has 3 BR's and bath. Price $45,000.00 #0200 - BURNSVILLE: Metal building, 50 x 120 with 1.28 acres. One - half of inferior is finished, presently being used for a bar. Possible uses for this property are unlimited. Call for more details. Price $340,000 #0201 - BURNSVILLE: 2 story brick building (46 x 52) is presently being used as a business with two rental units upstairs. Could have 4 apartments with some remodeling. Price $95.000 #206 - Ellis Road - 206 acres m/l with house, store building, 2 car garage with 3 rooms above. Basement with cellar room. All the buildings are frame with metal roofs• Some open bottom land, grown up pasture land and woods. County road runs through middle of property. $239,000 #301- S. LEWIS ST.- House with 6 apartments- 4- 2 BR 1- 1 BR and 1 efficiency. Large lot. Price $60,000 #0400 - COX'S MILLS: Brick ranch has large living room wit om area, 3 bed. rooms, 2- l[,llai:ll/itwo  car garage. Cellar, appl[ 7'fiildings on oppo- site side of road. I r.'078"ta'so-f land. Nice big yard $120,000 make a reasonable offer. #0403 - BRAXTON COUNTY: Located on Three Licl, above Orlando. Pro - built home has living room, kitchen, 3 bedrooms and 2 aths. Nice large lot, limited free gas reported• $75,000 #405- NOBE AREA- Nice ranch style home on 20 acres of land with FREE GAS reported. House has large LR, DR, Kitchen. 3 BRs. FR, 2 baths. Basement is completely fur- nished It has FR with gas FP, kitchen -DR-laundr€, 3BRs and bath. Lots of storage space. Deck at back of house is 10x 20. concrete patio below• 14x20 bldg and 10x20 bldg. Kitchen in house has reverse osmosis. 2 car garage is finished inside. House is in good condition. Looking for a place to get away from the hustle and bustle, this is it. Price $275,000. #800-415 KANAWHA ST. - Nice 3 BR home with LR- DR. kitchen and bath. Basement has FR, room with .112 bath used as office or BR, canning kitchen area, laundry area and plenty of storage• Home has FA & CA. One car detached garage. Bargain priced at $134,900.00 #800 - 697 CEDAR CREEK RD.- 2002 Astro double wide home has 3 BR with walk-in closets, LR, with fireplace, DR-kitchen. laundry and 2 baths. Foundation is pmrs with block underpinning. 2 porches and concrete patio• Several outbuildings.. City water, aeration septic and 2 wells. Short drive to town. Call for an appomtment to view. Price $125.000.00 .#803 - 28 VANHORN DRIVE - Brick home with LR, DR, Kitchen, 3 BR's, 2 Baths, full basement has FR. 2 rooms could be BR's. canning kitchen, wood stove in basement. 2 car garage, single cargarage. Approx. 1 acre of land. $195,000, #1000- SOUTH LEWIS ST. 1997 mobile home in good condition. Home has LR. very nice kitchen. 2 BR. and 2 baths. Lot is large enou gh for yard plus off street parking. $44,000.00 "#1105 - EAST MAIN STREET: Two story house has apartment m upstairs. Main floor has been used as a busi- ness. Lol fronts on E. Main and Morris Streets. Lots of possibilities. REDUCED $134,900 #1201- SAND FORK- House and 2 mobile homes on 13 lots. House has LR - DR. Kitchen. bath and laundry area, Upstairs has 3 BR's and sitting room or could be office on BR. Partial basement. 2 car garage, FA-CA. 2 rental trailers: Each has 2 BR's. LR-Kitchen and bath. Good income. Lots of yard space or garden areas. Fruit trees. Nice location off main road. City utilities• $150,1)00.00 #1202 - SAND FORK ROAD - 1352 Sand Fork RD.- One story home has LR. DR- Kitchen. 3 BR's. and bath. Full basement has BR. 2 other rooms, commode and shower. FA has. heat. new septic, drilled well and city water. 3/4 acre lot. Garage in basement. $69,500.00 #1204- 109 PARK ST.- Nice 3 BR home has LR. DR. kitchen and bath. House was remodeled four years ago. (New kitchen, windows, vinyl siding, insulation, rewired with 200 amp. service. Large deck. 54 Ft. long is very nice. FA/CA. off street parking for 2 cars. Price: $79,900.00 #1300 - KANAWHA DRIVE HEIGHTS: On Rt. 5 West 32 building lots from one - half acre to over one acre. Gas. electric and water available• PRICES VARY FROM $10.000 to $20,000 #1309 - BUSINESS PROPERTY AND BUILDING: Good location with thriving business and two rental units. All included in the sale• Price $175,000 #1310-: 141 - FOURTH STREET, in Burnsville. Very nice home has LR. DR, Kitchen. 2BR. den. and bath. Base- ment is completely finished. It has LR. DR, Kitchen. BR. bath with laundry. Back porch, out building, cellar, nice. private backyard. Price $80,000.00 #1600 - VANHORN DRIVE - 3 Br home has LR, DR-kitchen and 1 1/2 baths. Full basement with shower. Nice big back porch. Lot goes to the river. Very well maintained. Very nice area! $129,000 #1604- NEWBERNE : Two lots has almost 1 acre. Old cellar and dug well filled with stone Fronts on Newberne Rd. $9,000, #1402 - 428 CIARLES ST. - Brick home has LR. DR. Kitchen. 2 BR's. and bath• Basement has FR. Kitchen- laundry area. bath, room used as BR. 2 car garage. Kitchen area has new wood flloor Price $98.500. i 7" #1967 - 208 WHITING AVE - Lovely home with over 2,000 sq, ft. of living space. Home has large LR. lbrmal DR. kitchen with dining nook, FR with FP. 4BR's, 1 1/2 baths. large utility, large carport, nice front porch. FA & CA. brick exterior, plastered walls. Well maintained. Large yard. Lo- cated on a corner lot. Nice residential neighborhood. Must be seen to be appreciated• JUST REDUCED TO $149,500.00 #1969 CEDARVILLE.- 3 BR home has LR. DR. kitchen and bath. Full basement has FR. BR, kitchen, bath and cellar• Above ground pool one outbuilding and 2 car 'attached garage. Property has eleven lots, apple trees and blueberry bushes. New metal roof is being installed, Cal for more details. $150.000 REDUCED TO $145,000 #412- COR. NER E. MAIN COLLEGE STS: 2 story home ha, LR. DR. Kitchen sunroom FR. bath on first 2 nd floor has 3 BR room for stor could be BR sunroom (smalE large closet anc bath. Pull dowr steps t  ¢',cf'r'7'7 r' ment, l[alqlallqlr|i ,  q1tI/' 'il-Ill  g spaces, FA ht[ai['.llkQO,jll).lg/,gED TO $59,000 '"  k.,&JLMtjt-r,.- #1605- 154 BURNS ST., BURNSVILLE- A frame style home has LR-DR area, kitchen. BR and bath on main floor• Upstairs has BR with bath. Basement has FR with wood burner fireplace, BR that needs a little work and laundry with bath. Large patio out of basement. Price $80,000.00 #1606- 10 E. MAIN ST.: Two story brick building. First floor i s presently being used as a restaurant and has a full kitchen, bar area and dining room. The upstairs has 4 apts. There are three 2 BR's and one 1BR. Good rental property. Price: $95,000.00 #1968 - RT 5 TANNER CREEK AREA - Located half way between Glenville and Grantsvilte. Property is presently being used as a bar. Front part can seat approximately 30. Back part used as a banquet room. has stage, bar area and rest rooms. All commercial equipment included in sale. Large parking area. Lots of possibilities. Call for more details. Price $89.000 Reduced to $79.000 #2308 - WALNUT/SPRING STREETS: This house on the corneret./tr.y.--ia three bedroomslt| li(llrlfi:i]- U) r]l@l[, dl Vr/. Nice, large yard.ltklll]tit  [[jtl ltevlP"homes. They each have three-boN'ffLz-?lWl'h r'g' n. Ktchen. fam- ily room and a bath. All three priced at $90.000 Mary Lee McPherson Broker 462-7039 110 E. Main Street • Glenville, WV 26351 Sherry Bailey 304-462-7039 Office Agent 349-4265 Jack Heater Agent 462-5528 . o°U,''lt Monday - Friday 9 a.m.- 5 p.m. Saturday By Appointment