Encouraging Job Creation

jobsThe Valley Industry and Commerce Association is reaping the benefits of SB 936. This Sacramento state Senate bill seeks to help small businesses engage in the development of new jobs, by expanding the access they have to the extremely beneficial California loan guarantee program. Authored by State Sen. Robert Hertzberg, D-Van Nuys, it is hoped that the SB 936 will “stimulate economic growth and prosperity.”

In other loan-based news, Magilla Inc. (a company established in 2015 that sets up bank borrowers WITHOUT requiring any personal data) announced its second generation website that enhances user experience for borrower and lender. With this updated version, users can now benefit from real-time Q&A, more notification options and a faster turnaround time. The company has been expanding substantially since its launch, most notably from the FDIC-insured lenders who want premium borrowers. In addition, those who need loans really appreciate the ease of loan request submission and speed by which they can receive multiple loan proposals.

In terms of housing, the Seniors Housing Portfolio in Sacramento has been offered $41.5 million in financing for three-properties. This has been orchestrated by Holliday Fenoglio Fowler. The 7-year floating rate acquisition loan has been secured by an affiliate of Harbert Management Corp affiliate, Harbert Seniors Housing Fund.