News / Business
SBA Loan Broker Craig G. Francis Interviewed By Business Developer David Kamatoy
Talks about letter sent by Senator Robert Menendez to President Barack Obama and House Majority Leader Harry Reid
San Diego, CA – Business developer and Internet talk show host David Kamatoy interviewed SBA and commercial loan broker Craig G. Francis via email regarding the recently published letter sent by Senator Robert Menendez to President Barack Obama and House Majority Leader Harry Reid. Kamatoy wanted to get an opinion from an industry veteran on a proposal to allow the SBA to issue direct loans to small businesses, rather than guaranteeing bank-issued loans as it traditionally does.
“Senator Menendez’s proposal would allow the SBA to issue loans directly to credit-worthy businesses that have been unable to obtain traditional bank loans,” says Kamatoy. “I wanted to know what someone with financial experience thought of this. Craig G. Francis has over 27 years of experience and has helped businesses obtain over a billion dollars of SBA funding.”
Although the proposal seems on the surface to make sense, Francis points out that "the SBA is not set up to provide direct loans" in such situations. He also explains that "the SBA used to make loans directly to businesses in the 1960 and 1970 time period. The repayment of those loans was very poor, so the SBA got out of direct lending."
In addition to discussing the Menendez proposal, David Kamatoy and Craig G. Francis touch on other important topics for current and would-be small business owners.
David Kamatoy is an entrepreneur, entertainer, business developer, and co-founder of Kamatoy Media Group,a Social Media and Internet Marketing company that is serving entrepreneurs and small business owners. He can be reached for questions and interviews at press@jugglemail.com or call 619-573-9456.
The complete interview can be seen at DavidKamatoy.com or by clicking HERE.
