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AmAGF News

  • 01 Apr 2019 11:25 AM | Michele Cruz (Administrator)

    WASHINGTON – Today, U.S. Small Business Administration Administrator Linda E. McMahon issued the following statement:

    “Two years ago, President Trump entrusted me with the privilege of leading the SBA. The opportunity to lead the agency in supporting America’s small businesses has been immensely rewarding. I’ve also had the opportunity to witness firsthand the transformative impact the President’s growth policies are having on communities across this country: small businesses are reporting some of the highest levels of optimism on record; they are gaining access to new global markets; they are expanding access to affordable health care; and they are investing in their companies and their employees – raising wages, providing bonuses and benefits, and creating more jobs.

    “I’m very proud of the work this agency has done to improve the way we connect small businesses to capital, counseling and government contracts. The focus that we have put on supporting women entrepreneurship, veteran businesses and rural development has been particularly rewarding for me. I am especially proud of the agency’s unprecedented disaster recovery efforts in 2017, in the aftermath of three of the costliest hurricanes on record. After Harvey, Irma and Maria hit, SBA’s dedicated professional staff worked around the clock to approve more than $7 billion in low-interest loans to help small businesses and displaced residents recover from the disasters and rebuild their homes and livelihoods. That experience and the life-changing impact this agency had on so many Americans is something I will never forget.

    “While it has truly been the honor of a lifetime to serve our country in this Administration, it is time for me to step down and return to the private sector. I am resigning my position at SBA effective April 12. I wish to thank the President and I will continue to be a strong advocate for him and his policies.”


  • 19 Feb 2019 12:37 PM | Michele Cruz (Administrator)

    Property is the material thing that makes up your office or business. This includes the product to be sold to the public, materials used in your business to make the product the related equipment. 

    Keeping receipts in order as to where your income is derived can help your agent comprise the exact cost of replacement of your business assets in the event of loss.

    All purchases from the business must be reflected on the business property policy. A second location must be included on the application or within 30 days of purchase/lease for your policy coverage to be extended and any additional items included in the second location to be added to the existing policy.

    Certain items will need to have the year, model, make and serial number to have the coverage extended to the property. To have proper coverage you will need to complete a property schedule of all property/equipment. Items over $1,000 must be listed on the form for the property to be properly covered under the policy. If you have included mobile equipment on your property schedule an Inland Marine Policy will need to be issued for the coverage in transit.

    Article Submitted by:

    DAWN FISLER LUTCF,

    Agent

    LICENSE INFO:DAWN MARIE FISLER, LICENSED IN AZ, NV,

    UTPHONE:(702)798-0888

    EMAIL:thefisleragency@american-national.com

    https://mlagents.americannational.com/dawnfislerlutcf-3537/

  • 19 Feb 2019 9:14 AM | Michele Cruz (Administrator)

    Preparing for a General Liability quote saves time and inaccuracies. New Business owners are inexperienced in asking for and obtaining information for coverage. 

    Some of the questions such as payroll and gross receipts are typically asked for gauging the volume of business and the exposure to risk rating property. 

    When carriers look at the potential risk, the volume is a great indicator as to what premiums will work out to be for a company. The exposure is how rates are figured. Two similar business (i.e.) taco shops; one has $100,000 is gross receipts and the other has 3 location and $1,800,000 in receipts.  Each taco shop has a different exposure therefore has different premiums even with the same carriers.  Your risk factors may be similar but they are not the same.

    Underestimating coverage can be very deleterious to a business owner. At the end of the term you can be audited and you will owe the insurance company for the excess exposure.  Be as accurate as possible to get the closest coverage that your business needs.

    **This is in a generality of available coverage that you may want to investigate to see if it will apply to your needs.  This is not an advertisement, and no offer for insurance subject to state laws. Not all coverage are available in all states. 

    Article Submitted by:

    DAWN FISLER LUTCF,

    Agent

    LICENSE INFO:DAWN MARIE FISLER, LICENSED IN AZ, NV, UT

    PHONE: (702)798-0888

    EMAIL:thefisleragency@american-national.com

    https://mlagents.americannational.com/dawnfislerlutcf-3537/

  • 06 Feb 2019 1:05 PM | Michele Cruz (Administrator)

    Often business owners have done the leg work to start a business, but forget about General Liability Coverage

    Each company has its own unique risk factors that are specific for your type of business. When you partner with a professional who has knowledge of your business, they can direct you in ways that are invaluable to the business owner.  Agents provide a wealth of knowledge that will benefit your business in the long run.  General Liability and how it will protect your business against third-party claims of bodily injury or damages to someone else’s property. General Liability may be requested by your landlord, this coverage protects your business claims of Bodily Injury and/or Property Damage. Depending on what your landlord requests when you lease a space, there may be specific verbiage on the request. Unlike home owner policies that more are familiar with, property coverage is not included in a General Liability policy, it must be purchased separately.

    General Liability (GL), can also cover certain claims of alleged financial loss due to Bodily Injury and/or Property Damage arising out of your business operations, products or services. Slander, wrongful detainment, violation of right to privacy and advertising errors are some others.

    Your GL coverage needs to include Medical Payments due to your negligence.  A simple example is you decide to set up a booth at a fair and your canopy that provides shade flies over and hits a patron of the event. YOUR General Liability if structured properly should cover this type of exposure.  Some policies offer extended coverage, it is up to the business owner to investigate this coverage which broadens coverage for the business owner.*

    *This information is not an offer for insurance, nor is it specific for any one company. This is in a generality of available coverage that you may want to investigate to see if it will apply to your needs, This is not an advertisement no offer for insurance subject to state laws. Not all coverage are available in all states.

    Article Submitted by:

    DAWN FISLER LUTCF,

    Agent

    LICENSE INFO:DAWN MARIE FISLER, LICENSED IN AZ, NV, UT

    PHONE: (702)798-0888

    EMAIL:thefisleragency@american-national.com

    https://mlagents.americannational.com/dawnfislerlutcf-3537/


  • 02 Jan 2019 1:00 PM | Michele Cruz (Administrator)

    We are actively seeking to assist our business associates and clients in producing the most comprehensive SBA 504 loan request packaged in the industry.

    We are currently representing SBA 504 lenders that are actively lending to small and middle market business owners to finance or refinance their commercial real estate needs. We assist and work with commercial real estate agents and brokers as well as business specialists including CPA’s and business brokers who represent the small business community.

    AMAGF will help you through every step of the packaging process including determining the eligibility of the business and owners, education of how the SBA guaranteed loan program works and the documentation requirements of the business and its principals. The SBA 504 loan program deals strictly with the commercial real estate component of your business operations.

    Loan sizes for SBA 504 Program
    - Gross loan amounts are up to $12 million
    - Up to 90% loan to value

    Loan Requirements
    - Existing Commercial Real Estate purchases for owners who will occupy
    - New Construction of Commercial Real Estate
    - Refinancing of Existing Real Estate
    - For owner/user who occupy >51% of the commercial space.

    Typical Terms and Conditions that Apply
    - 10-20% Down Payment or Equity Needed
    - 20-25 year amortization with no balloon payment

    Along with the SBA 504 Loan program for commercial real estate purchases it is not uncommon for commercial mortgage brokers to receive inquiries from foreign nationals who are interest in investing in the U.S. commercial real estate market. Many of these investors also may be interest in turning the investment into a business that creates jobs and offers a route to receive permanent residency in the U.S.

    To appropriately cater to this client niche, commercial mortgage brokers must be aware of how to work with the EB-5 Program, created by Congress in 1990 to stimulate the U.S. economy through job creation and capital investment by foreign investors. The commercial mortgage broker should also be aware that each lending institution or regional center has specific policy that defines the type of business using the business NAICS Codes as well as the geographical areas or the Targeted Employment Areas.

    Let AMAGF and its knowledgeable staff assist you with our commercial packaging and lender referral services. Contact us or Become a Member Today!


  • 02 Jan 2019 12:58 PM | Michele Cruz (Administrator)

    According to the Small Business Administration (SBA), a business plan is defined as “a document that precisely defines a business, identifies its goals and serves as its resume”. The SBA goes on to describe the purpose of a business plan as “a source that will assist the business owner to allocate resources properly, handle unforeseen complications, and make the right decision”.

    Still, most business owners feel a business plan is unnecessary. Nothing could be further from the truth. A thorough, well written business plan is one of the most essential and critical requirements of any business. Many business experts claim there is a direct correlation between business success and having a comprehensive business plan – where a business plan actually serves as a roadmap to business success. This means that experts believe a strong business plan will increase the odds of a business to survive and thrive.

    Not only will the probability of business success increase, a solid, written business plan keeps the business owner focused on goals and objectives, financial projections, future asset and personnel needs, and cash and financing requirements for future growth and expansion. It keeps the business owner “on course” with marketing, advertising, sales, websites and other key business elements since the business plan contains goals and budgets that the business owner can refer to at any time.

    If these were not reason enough, a business plan is a must if financial support is being sought. Business lenders, private investors, leasing companies, vendors, suppliers, landlords, grant providers and the Small Business Administration (SBA) all require an up-to-date written business plan be submitted with any application for financial support, regardless of the amount being requested.

    In summary, a well written business plan is an essential requirement for every business. It serves purposes far beyond simply a document needed when applying for a loan. A written business plan, including the financial projections and goals it contains, increases the chance for business success and prosperity. Business owners devote their savings, their assets and their lives to their business. A business plan is the most sensible investment they can ever make in the future of their business.


  • 31 Dec 2018 11:01 AM | Michele Cruz (Administrator)

    AMAGF is a Veteran owned business and is committed to assisting Veteran Owned Small Businesses gain the education and business financing that is needed in growing their business or starting a new business. 

    The SBA is also committed to assisting Veteran owned businesses by implementing measure to help get small business loans into the hands of veteran. These new measures sets the borrower upfront fee to ZERO for all veteran loans authorized under the SBA Express program up to $350,000.

    Currently SBA Express loans $150,001 - $350,000 have an up-front guaranty fee of 3%. To continue supporting America's veterans, the SBA Veterans Advantage reduces the up-front guaranty fee from 3% to 0% for SBA Express loans over $150,000 approved to small businesses owned by qualified veterans.


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