#Our free banker on LUCKY-G | Explore Tumblr Posts and Blogs

anneimaginesundertale · 3 years

Text

Wild West AU

Welcome to Littleton, a tiny little town on the frontier. Our biggest draw here is all the skeletons! We've got skeletons out the wazoo, and they're all too handsome for their own good! Come on along, stranger, and I'll introduce ya!

Sans and Papyrus -- they run a local cattle ranch. Well, Papyrus runs it. Sans mostly hangs around at Grillby's. Everybody knows Pap can't get him to do a lick of work around the place. Lazy bones! Papyrus is a real fine fella, though. He's got a way with his animals, and he's real friendly. He'd love to help out the sheriff, but we only need one deputy in town.

Blue and Stretch - Blue is our beloved school teacher! Mister Blue is a real gentleman, and he loves all the kids in town. He can ride real well, even if he is from back east, and there's rumors that he's a crack shot with a pistol, but ain't nobody ever seen him even touch a gun! His brother is still a working cowboy and he tends to come and go with the cattle drives. He's got a real way with words when he is around. Everybody loves to hear him spin a tale.

Red and Boss - These two drifted into town a while back. Red works in the local mine and Boss is the new deputy. Boss takes his job real serious, but there are rumors that they used to be bandits before they came here, and that the real reason Red is a miner is because he's looking for a spot to hide their big score.

Black and Rus - Black is the local sheriff. Rus was his deputy, but somethin' happened with some outlaws on the edge of town and now Rus mostly just does odd jobs around town. His brother's real protective of him.

Sansy and Sweets - No one knows much about these two loners. They live up the mountain all on their own. They come down every few months to buy and sell things, and they always have a good harvest in the fall, but no one knows what all they do up there. Must get mighty lonely...Sweets is always the one to come down and deal things. Sansy sometimes comes with him to help lift stuff, but he's awful quiet...

Bones and Lucky - Bones runs the general store and his brother is the local banker. They're two of the richest men in town. Lucky plays piano down at the casino some nights.

Smiley and Grim - They own the town casino. Grillby's might be the best place in town to go and get a drink, but if you want to play poker for more than dog treats, you go to the casino. Some people were real upset when these two came into town, but it seems a bit of money crossed the right palms and Smiley turned on that charm of his, and now nobody pays 'em no mind.

G and Aster - G is another one who doesn't seem to actually do anything around here! He's always in Grillby's, crackin' jokes and drinkin' and playin' poker with the dogs, but when anybody asks him what his job is, he don't answer! His brother is the local doctor and he takes real good care of everybody.

Comet and Captain - Our local blacksmiths! They're also inventors (so they say) but nobody knows what they're inventing. We just hear loud bangs and clangs from their workshop...Comet's also got the nicest garden in town. We keep askin' for his secret but he just gets all embarrassed and won't tell.

Break and Tango - They run the stagecoach! They've got all kinds of stories about their travels around the territory, and Tango sure knows how to dance! There's always a party when they come back into town. Break is a shy fella, but if you believe his brother's stories, he's the one who does most of the defendin' when the coach gets in trouble! Another one who's said to be a real good shot, though we ain't seen him do it.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

This was so fun to come up with!! I actually got all of this done in August, in one sitting, in one glorious rush of inspiration! I hope you like it as much as I do. Feel free to send questions!

#wild west au

38 notes · View notes

moonbeambucky · 7 years

Text

The Guardian (Part 2)

Pairing: Demon!Bucky Barnes x Reader (Demon AU) Word Count: 2698 Warnings: **Suicide**, Violence, Torture, Body horror (I guess like medical experimentation & stuff), mentions of animal abuse ***The suicide is heavily implied so if anyone is uncomfortable by this topic but you want to know what’s happening in the chapter msg me and I can give you a trigger free run down!

Summary: Someone has been watching over you throughout your life. His intentions are bad, that is until you remind him of his past. Can you save the soul of a demon?

A/N: I hope this doesn't suck. If you like it let me know! :) Gif not mine, source (x)

PART 1 | THE GUARDIAN MASTERLIST

If his heart could still skip a beat it certainly would have. You had unlocked the door in his mind that had been shut for so long. The memories overwhelmed him, bits and pieces of a puzzle scattered on the floor waiting to be put together. He started slowly with his name. Bucky. He repeated it over and over again, furrowing his brows together with frustration.

“There’s more. Bucky… urgh!” he huffed, pressing the heel of his palms into his eyes. He sounded out different letters until he thought he found the right one.

“G-George. No, James. James... Barnes. George was my father,” he said slowly connecting the pieces.

He pictured a man, with striking blue eyes and dark brown hair that peeked out from under a flat-topped straw hat. His cream buttoned down shirt was tucked into brown trousers, cuffed at the bottom to display his oxford shoes. Bucky smiled remembering his father, caring and selfless, who would always give up his last dollar to anyone that needed it. He was a hard working man who loved his wife Winifred. “Winnie, darling!” he would say, coming through the front door of their humble home.

George worked long hours as a banker but during the weekends he was a true family man. He took James and his younger sister Rebecca to the park. He watched James play baseball with some local boys, smiling at the nickname they gave his son as they eagerly called Bucky up to bat. Rebecca rode a merry-go-round, waving to her father each time her wooden horse passed the bench he sat on. He loved his family with all of heart. The accident that took his life was tragic, and Bucky never felt worthy enough to fill the large void left in its wake.

His country needed him during the war, there was no question but Bucky hated the idea of leaving his mother and sister. He wrote to them when he could during training and was lucky enough to receive their letters when he was overseas.

He slid down the wall, unseen by the humans that casually pass him by, as the horrors of the war replayed in his mind. Then he remembered the explosion on the cliffside and his biggest regret, living. He fell, hitting the snow covered ground with a huge thud. Every bone was surely broken, he groaned in agony and yet he felt numb. Hot tears stung his eyes as thought about his mom and Rebecca. He didn’t want to leave them, he was the man of the house, he needed to protect them. But there was nothing he could do except shut his eyes and wait for death to take him.

A blurred figure came towards him, calling out his name. A fellow soldier? No, it was an older man with a wrinkled face and dusty blond hair. “Bucky.” His smooth voice kept him from slipping out of consciousness. “Bucky, I’m here to help you.”

The man introduced himself as Alexander, Bucky’s spiritual guardian. “My wh-what?” Bucky’s weak voice murmured.

Alexander offered to save him, heal him enough to go home so he can see his family as long as he promised to work with him as a guardian when the time comes. Confused and close to death Bucky accepted the man’s offer as his eyes shut.

Bucky woke up, groaning as his body bounced with every step the men who were carrying him on a stretcher took. “You’re lucky to be alive, soldier!” he heard a voice say before slipping unconscious again.

Sometime later he opened his eyes, recognizing he was in the medical tent of the barracks. He groaned feeling a terrible ache throughout his body, which was expected after his tremendous fall, except he felt different. His eyes widened with horror seeing the absence of his left arm. A medic heard the commotion and rushed over to him, explaining that his arm was lost from the explosion. He looked down to see a small stump wrapped in gauze, just a few inches remained of his once strong arm. His injury would be sending him home though as soon as the papers were processed.

Bucky reflected on his thoughts, vaguely remembering the man, his guardian, who promised him a chance to see his family again. He didn’t realize the cost, nevertheless he was happy, he served his country honorably and he was headed home with a smile on his face.

Winifred sobbed mixed tears of joy and sadness as her son walked through the door. She was prepared for his injury but it didn’t take away the pain she felt for her boy.

“Son!” she cried, sobbing into his chest. Bucky wrapped his right arm around her back, “Ma! It’s okay. I’m okay,” he said hoping his words would alleviate her woes.

Winifred took him into the kitchen, having prepared a casserole, after a long time away she needed to make sure her son was well fed again. Bucky missed her cooking, even with the restrictions from food rationing, she was always able to turn anything into a delicious filling meal.

She sat beside Bucky tending to his every need, refilling his glass before it was half empty, wiping food from the corner of his mouth. Bucky held his tongue, just because he lost an arm didn’t mean he couldn’t take care of himself, but he let his mother take care of him; she almost lost her son after all.

Rebecca came home a few hours later looking unrecognizable from the last time Bucky saw her. Her hair usually styled with intricate curls was covered in a dusty headscarf, her dress was traded for faded blue coveralls. She had taken up work in a local factory, like most of the women in the country who took over the jobs of the men who left to fight.

Her face lit up when she saw him, with a bittersweet smile tugging on her lips as she noticed the flat empty sleeve on the left side of his jacket.

She was happy to have him home, they were all happy to be together again.

Later that night after their mother had gone to sleep Bucky and Rebecca were able to speak frankly. His heart felt heavy, wiping tears away as he relived the terrible things the war required him to do. Bucky told her mostly everything, only sparing her from the gruesome details he did not want his little sister to imagine. He also left out the part of the man, Alexander, the supposed guardian that saved his life, though he was half convinced this was a hallucination.

Bucky pushed open the door of his bedroom and gasped, not expecting to see the figure standing there waiting for him. His jaw hung open as he stared at Alexander who was very much real. He was a few inches shorter than Bucky but stood with towering confidence. “Surprised to see me?” he asked.

Bucky nodded, unsure of what words to say as he tried to quickly accept the existence of his spiritual guardian.

“About the arm,” he nudged his chin towards Bucky, “It was the best way to get you home.” Bucky cleared his throat before speaking, “Uh yeah, thanks, thank you. I’m just glad to be here.” He tripped on his words, smiling quickly before returning to his nonplussed state.

“How’s mom? She good?” Alexander asked with a curt undertone. Bucky nodded in response. “And sister?” A chill ran down Bucky’s back and he shivered before silently nodding again. “That’s good. I’m sure you said goodbye then.”

Bucky’s face twisted in confusion, “I- I don’t know what you’re talking about.”

Alexander’s lips pulled up into a wide devilish smile. “Our deal boy. The time has come.”

Bucky sputtered out words, trying to reason with that he’s been home for less than a week. Alexander didn’t care, though he never stated the full terms of his agreement Bucky never asked. He accepted his help and he was quickly learning that his actions had consequences.

“Kill yourself,” Alexander snarled, smirking.

Bucky felt disgusted by his words, he refused. He could never.

Alexander cocked his head, closing the gap between himself and Bucky. His smile dropped, “Your mother and sister are on a train right now,” he calmly stated.

Bucky shook his head in confusion, “What does that mean?”

“I’m a man of great influence and power,” he spat, popping the sound the word he took so much pleasure from.“They are sitting in the first car and when I derail the train they will die, painfully so,” he smirked, “Unless…” he threatened.

Bucky felt nauseous, the thought of his family dying burned a deep pit within his stomach. “I thought you were my guardian angel,” he naively questioned.

Alexander dropped his head back and laughed with a twisted sense of delight. He turned towards Bucky revealing his eyes, now covered by a deep blackness that replaced any trace of humanity he once appeared to have. “I’m far from angel.”

He raised his hands up and the furniture in Bucky’s room began to shake. The desk broke in half, with all objects once neatly displayed sliding towards the center, the dresser toppled over, photographs dropped from their place on the wall. Bucky jumped out of the way as his closet door opened, his clothes were violently strewn across the room. He could not believe what he was seeing.

Alexander looked at a mirror and it shattered, its jagged pieces fell to the ground in front of Bucky. “You know what to do.”

Bucky bent down, apprehensively picking up the shard of glass. His teary eyes pleaded with Alexander but he showed no signs of faltering.

“What happens if I do this?” his shaky voice asked. “Th-they’ll be safe? No tricks?” “They won’t be harmed. I’m a man of my word. You do this and then you work for me. Go on son.”

Bucky shut his eyes not wanting to face Alexander. Son, the word stung in his mind. Bucky thought about his father, the honorable and good man. Would he do this? No, his father was a better man. He wouldn’t have made a deal with the devil. That’s what Alexander had to be. George would have seen through something that was too good to be true, he would have died with honor on that blanket of snow. All Bucky wanted was to see his family again, to protect them. Now he was left with a horrible choice and no way out. He had to save them, the family that would forever be plagued with unanswered questions. Why? Why did he do this?

Bucky choked on a lump in his throat as the tears traveled down his cheeks. He gripped the shard, feeling the sting of glass cutting into his hand. “I’m sorry,” he whispered, knowing the people who needed to hear his words never would. He brought the shard to his neck while Alexander watched.

Bucky woke up on the hard ground, looking around he saw nothing, just blackness that felt like it was slowly creeping towards him despite his vast surroundings. There was a cold chill that blew through him yet he choked on the air, heavy with humidity making it difficult to breathe. Wait, could he even breathe?

He was alone and scared. He sat bringing his knees to his chest, going through the motions of crying without being able to shed tears, as he regretted the choices he made from the life he’ll never get back. Alexander appeared in front of him, pulling Bucky to his feet.

“You work for me now,” he spat. “And my soldiers aren’t weak.” “Soldiers?” Bucky questioned, “Alexander, I…”

He was cut off again. “You call me Pierce and I am not to be questioned. I’m not your friend. I own you. You’re gonna go up there and corrupt souls. Manipulate people, like I did to you,” he said with a sinister smile.

Bucky tried resisting at first, thinking since he was already dead that no more harm could come to him but he was wrong. Pierce brought in his trusted associate, a man formerly known as Brock Rumlow.

Rumlow was a twisted from an early age, torturing animals, slicing them open just to see what would happen. He became a surgeon, determined by his sickness to hurt people. It wasn’t enough for him to perform the surgery he was required to do. He lied to his patients, telling them the procedures he performed were life saving and necessary just so he could mutilate them.

He found a like minded assistant, Grant Ward, and together they abused countless victims. Operating without anesthesia, the relished in the sounds of screams as they experimented removing body parts, or attaching foreign objects within. Then men were caught and executed but they continue their work now as demon’s with Pierce’s full support.

Bucky had learned more about Pierce, the devil’s right hand man, a powerful demon who was building an army with plans to fight the angels in Heaven.

With the snap of his fingers Pierce made it possible for Bucky to experience pain again. Rumlow smiled as he began his torture. Minutes felt like years, years felt like centuries. Bucky had felt immeasurable amounts of pain. He tried not to scream knowing each time he did it only fueled Rumlow’s enthusiasm. He was carved with every tool imaginable, grinding his teeth as he felt the sting of each slice, only to have his body healed and prepped for the next round of torture.

Rumlow was fascinated by Bucky’s arm. He opened him up, removing what was left of his bone and replacing it with different objects. He settled on a metal arm, cast from the armor of a great demon, once a rogue knight who slayed countless villages during the Middle Ages.

Bucky knew how to end the torture, he held out for so long but he was weak, physically and mentally. He felt broken and so he conceded, accepting his fate. He hated himself for giving up. He carried out Pierce’s orders, being assigned to a variety of people all over the world; it didn’t matter who they were, only that they be influenced negatively to corrupt their souls.

One day Bucky was assigned to a new mother. He reluctantly went to the hospital with the intent on whispering thoughts to induce postpartum depression. He materialized in the hospital room, pushing past the flowers and balloons, not making himself known to the happy people who crowded around the woman. He stopped in shock as he saw his sister holding a baby swaddled in blue cloth.

“James, after my brother,” Rebecca said. “James Barnes-Proctor.” She wiped tears away as she smiled lovingly at her son. Bucky stood there in shock, seeing his sister and the man he assumed was her husband caressing the forehead of the sleeping infant. He scanned the room for his mother but she wasn’t there. He wanted to stay, to talk to Rebecca and tell her everything but he knew he couldn’t.

He left feeling determined, feeling strong like the man he should have been. He refused to do this any longer, resolving that he would rather be tortured for eternity than hurt anyone else. Pierce blinked a few times, silent in response to Bucky’s defiance. He simply smiled, snapping his fingers as a cloud of black smoke wrapped itself around Bucky. He struggled against the force of energy but wasn’t able to break free. The black cloud entered through his ears and fogged up his mind. Pierce locked away Bucky’s memories, wiping him to create the perfect demon, brainwashing him into fighting for his cause without disobedience. A soldier once again, ready for orders.

Bucky struggled to lift his heavy head, weighed down by all of his memories, guilt and pain. He wiped away fresh tears as he looked around. You had left, a while ago it seemed. Bucky wanted to find you. He wanted to undo some of the damage he’s done. Thanks to you he remembered who he was, he needed to do some good for a lot of people but he wanted to start with you. He tasted the salt on his lips before realizing the unfamiliar sense. How was he able to cry?

His thoughts were interrupted by the image of Pierce calling him back. Bucky wiped his eyes again, bringing his expression back to something neutral as he faced Pierce.

“Mission report.”

PART 3

Perm Tags: @chameerah

Story Tags: @hawaiipeople-blog @wandering-at-midnight @misscherryberry @ly--canthrope @learisa @karlilarki @greenhands5 @myfandomismyreality

FEEDBACK is appreciated *so* much. Please like, comment, reblog! Thank you :)

#demon!Bucky #bucky barnes x reader #Bucky Barnes #bucky barnes au #bucky x reader #Sebastian Stan #bucky x you #Marvel AU #marvel fic #bucky barnes fic #bucky barnes fanfiction #bucky barnes imagines #bucky barnes imagine #reader insert #tw suicide #tw: suicide

416 notes · View notes

clayrzyan · 6 years

Text

Business funding Small Business Loan Update - Stimulus Bill Helps Bailout Businesses If They Cannot

As we continue to sift dutifully through the over 1,000 pages of the stimulus bill (American Recovery and Reinvestment Act of 2009), there is one provision that is not getting much attention but could be very helpful to small businesses. If you are a small business and have received an SBA loan from your local banker, but are having trouble making payments, you can get a “stabilization loan”. That’s right; finally, some bailout money goes into the hands of the small business owner, instead of going down the proverbial deep hole of the stock market or large banks. But don’t get too excited. It is limited to very specific instances and is not available for the vast majority of business owners. There are some news articles that boldly claim the SBA will now provide relief if you have an existing business loan and are having trouble making the payments. This is not a true statement and needs to be clarified. As seen in more detail in this article, this is wrong because it applies to troubled loans made in the future, not existing ones. Here is how it works. Assume you were one of the lucky few that find a bank to make an SBA loan. You proceed on your merry way but run into tough economic times and find it hard to repay. Remember these are not conventional loans but loans from an SBA licensed lender that are guaranteed for default by the U.S. government through the SBA (depending upon the loan, between 50% and 90%). Under the new stimulus bill, the SBA might come to your rescue. You will be able to get a new loan which will pay-off the existing balance on extremely favorable terms, buying more time to revitalize your business and get back in the saddle. Sound too good to be true? Well, you be the judge. Here are some of the features: 1. Does not apply to SBA loans taken out before the stimulus bill. As to non-SBA loans, they can be before or after the bill’s enactment. 2. Does it apply to SBA guaranteed loans or non-SBA conventional loans as well? We don’t know for sure. This statute simply says it applies to a “small business concern that meets the eligibility standards and section 7(a) of the Small Business Act” (Section 506 © of the new Act). That contains pages and pages of requirements which could apply to both types of loans. Based on some of the preliminary reports from the SBA, it appears it applies to both SBA and non-SBA loans. 3. These monies are subject to availability in the funding of Congress. Some think the way we are going with our Federal bailout, we are going be out of money before the economy we are trying to save. 4. You don’t get these monies unless you are a viable business. Boy, you can drive a truck through that phrase. Our friends at the SBA will determine if you are “viable” (imagine how inferior you will be when you have to tell your friends your business was determined by the Federal government to be “non-viable” and on life support). 5. You have to be suffering “immediate financial hardship”. So much for holding out making payments because you’d rather use the money for other expansion needs. How many months you have to be delinquent, or how close your foot is to the banana peel of complete business failure, is anyone’s guess. 6. It is not certain, and commentators disagree, as to whether the Federal government through the SBA will make the loan from taxpayers’ dollars or by private SBA licensed banks. In my opinion it is the latter. It carries a 100% SBA guarantee and I would make no sense if the government itself was making the loan. 7. The loan cannot exceed $35,000. Presumably the new loan will be “taking out” or refinancing the entire balance on the old one. So if you had a $100,000 loan that you have been paying on time for several years but now have a balance of $35,000 and are in trouble, boy do we have a program for you. Or you might have a smaller $15,000 loan and after a short time need help. The law does not say you have to wait any particular period of time so I guess you could be in default after the first couple of months. 8. You can use it to make up no more than six months of monthly delinquencies. 9. The loan will be for a maximum term of five years. 10. The borrower will pay absolutely no interest for the duration of the loan. Interest can be charged, but it will be subsidized by the Federal government. 11. Here’s the great part. If you get one of these loans, you don’t have to make any payments for the first year. 12. There are absolutely no upfront fees allowed. Getting such a loan is 100% free (of course you have to pay principal and interest after the one year moratorium). 13. The SBA will decide whether or not collateral is required. In other words, if you have to put liens on your property or residence. My guess is they will lax as to this requirement. 14. You can get these loans until September 30, 2010. 15. Because this is emergency legislation, within 15 days after signing the bill, the SBA has to come up with regulations. Here is a summary of the actual legislative language if you are having trouble getting to sleep: . SEC. 506. BUSINESS STABILIZATION PROGRAM. (a) IN GENERAL- Subject to the availability of appropriations, the Administrator of the Small Business Administration shall carry out a program to provide loans on a deferred basis to viable (as such term is determined pursuant to regulation by the Administrator of the Small Business Administration) small business concerns that have a qualifying small business loan and are experiencing immediate financial hardship. (b) ELIGIBLE BORROWER- A small business concern as defined under section 3 of the Small Business Act (15 U.S.C. 632). © QUALIFYING SMALL BUSINESS LOAN- A loan made to a small business concern that meets the eligibility standards in section 7(a) of the Small Business Act (15 U.S.C. 636(a)) but shall not include loans guarantees (or loan guarantee commitments made) by the Administrator prior to the date of enactment of this Act. (d) LOAN SIZE- Loans guaranteed under this section may not exceed $35,000. (e) PURPOSE- Loans guaranteed under this program shall be used to make periodic payment of principal and interest, either in full or in part, on an existing qualifying small business loan for a period of time not to exceed 6 months. (f) LOAN TERMS- Loans made under this section shall: (1) carry a 100 percent guaranty; and (2) have interest fully subsidized for the period of repayment. (g) REPAYMENT- Repayment for loans made under this section shall– (1) be amortized over a period of time not to exceed 5 years; and (2) not begin until 12 months after the final disbursement of funds is made. (h) COLLATERAL- The Administrator of the Small Business Administration may accept any available collateral, including subordinated liens, to secure loans made under this section. (i) FEES- The Administrator of the Small Business Administration is prohibited from charging any processing fees, origination fees, application fees, points, brokerage fees, bonus points, prepayment penalties, and other fees that could be charged to a loan applicant for loans under this section. (j) SUNSET- The Administrator of the Small Business Administration shall not issue loan guarantees under this section after September 30, 2010. (k) EMERGENCY RULEMAKING AUTHORITY- The Administrator of the Small Business Administration shall issue regulations under this section within 15 days after the date of enactment of this section. The notice requirements of section 553(b) of title 5, United States Code shall not apply to the promulgation of such regulations. The real question The real question is whether a private bank will loan under this program. Unfortunately, few will do so because the statute very clearly states that no fees whatsoever can be charged, and how can a bank make any money if they loan under those circumstances. Sure, they might make money in the secondary market, but that is dried up, so they basically are asked to make a loan out of the goodness of their heart. On the other hand, it carries a first ever 100% government guarantee so the bank’s know they will be receiving interest and will have no possibility of losing a single dime. Maybe this will work after all. But there is something else that would be of interest to a bank. In a way, this is a form of Federal bailout going directly to small community banks. They have on their books loans that are in default and they could easily jump at the chance of being able to bail them out with this program. Especially if they had not been the recipients of the first TARP monies. Contrary to public sentiment, most of them did not receive any money. But again, this might not apply to that community bank. Since they typically package and sell their loans within three to six months, it probably wouldn’t even be in default at that point. It would be in the hands of the secondary market investor. So is this good or bad for small businesses? Frankly, it’s good to see that some bailout money is working its way toward small businesses, but most of them would rather have a loan in the first place, as opposed help when in default. Unfortunately, this will have a limited application. Wouldn’t it be better if we simply expanded our small business programs so more businesses could get loans? How about the SBA creating a secondary market for small business loans? I have a novel idea: for the moment forget about defaults, and concentrate on making business loans available to start-ups or existing businesses wanting to expand. How about having a program that can pay off high-interest credit card balances? There is hardly a business out there that has not been financing themselves lately through credit cards, simply because banks are not making loans. It is not unusual for people to have $50,000 plus on their credit cards, just to stay afloat. Talk about saving high interest. You can imagine how much cash flow this would give a small business. We should applaud Congress for doing their best under short notice to come up with this plan. Sure this is a form of welcome bailout for small businesses, but I believe it misses the mark as to the majority of the 27 million business owners that are simply looking for a loan they can repay, as opposed to a handout Business funding. source https://www.mompopbizfunding.com/blog/business-funding-small-business-loan-update-stimulus-bill-helps-bailout-businesses-if-they-cannot

source https://mompopbizfunding.tumblr.com/post/182237071260

0 notes

mompopbizfunding · 6 years

Text

Business funding Small Business Loan Update - Stimulus Bill Helps Bailout Businesses If They Cannot

As we continue to sift dutifully through the over 1,000 pages of the stimulus bill (American Recovery and Reinvestment Act of 2009), there is one provision that is not getting much attention but could be very helpful to small businesses. If you are a small business and have received an SBA loan from your local banker, but are having trouble making payments, you can get a "stabilization loan". That's right; finally, some bailout money goes into the hands of the small business owner, instead of going down the proverbial deep hole of the stock market or large banks. But don't get too excited. It is limited to very specific instances and is not available for the vast majority of business owners. There are some news articles that boldly claim the SBA will now provide relief if you have an existing business loan and are having trouble making the payments. This is not a true statement and needs to be clarified. As seen in more detail in this article, this is wrong because it applies to troubled loans made in the future, not existing ones. Here is how it works. Assume you were one of the lucky few that find a bank to make an SBA loan. You proceed on your merry way but run into tough economic times and find it hard to repay. Remember these are not conventional loans but loans from an SBA licensed lender that are guaranteed for default by the U.S. government through the SBA (depending upon the loan, between 50% and 90%). Under the new stimulus bill, the SBA might come to your rescue. You will be able to get a new loan which will pay-off the existing balance on extremely favorable terms, buying more time to revitalize your business and get back in the saddle. Sound too good to be true? Well, you be the judge. Here are some of the features: 1. Does not apply to SBA loans taken out before the stimulus bill. As to non-SBA loans, they can be before or after the bill's enactment. 2. Does it apply to SBA guaranteed loans or non-SBA conventional loans as well? We don't know for sure. This statute simply says it applies to a "small business concern that meets the eligibility standards and section 7(a) of the Small Business Act" (Section 506 (c) of the new Act). That contains pages and pages of requirements which could apply to both types of loans. Based on some of the preliminary reports from the SBA, it appears it applies to both SBA and non-SBA loans. 3. These monies are subject to availability in the funding of Congress. Some think the way we are going with our Federal bailout, we are going be out of money before the economy we are trying to save. 4. You don't get these monies unless you are a viable business. Boy, you can drive a truck through that phrase. Our friends at the SBA will determine if you are "viable" (imagine how inferior you will be when you have to tell your friends your business was determined by the Federal government to be "non-viable" and on life support). 5. You have to be suffering "immediate financial hardship". So much for holding out making payments because you'd rather use the money for other expansion needs. How many months you have to be delinquent, or how close your foot is to the banana peel of complete business failure, is anyone's guess. 6. It is not certain, and commentators disagree, as to whether the Federal government through the SBA will make the loan from taxpayers' dollars or by private SBA licensed banks. In my opinion it is the latter. It carries a 100% SBA guarantee and I would make no sense if the government itself was making the loan. 7. The loan cannot exceed $35,000. Presumably the new loan will be "taking out" or refinancing the entire balance on the old one. So if you had a $100,000 loan that you have been paying on time for several years but now have a balance of $35,000 and are in trouble, boy do we have a program for you. Or you might have a smaller $15,000 loan and after a short time need help. The law does not say you have to wait any particular period of time so I guess you could be in default after the first couple of months. 8. You can use it to make up no more than six months of monthly delinquencies. 9. The loan will be for a maximum term of five years. 10. The borrower will pay absolutely no interest for the duration of the loan. Interest can be charged, but it will be subsidized by the Federal government. 11. Here's the great part. If you get one of these loans, you don't have to make any payments for the first year. 12. There are absolutely no upfront fees allowed. Getting such a loan is 100% free (of course you have to pay principal and interest after the one year moratorium). 13. The SBA will decide whether or not collateral is required. In other words, if you have to put liens on your property or residence. My guess is they will lax as to this requirement. 14. You can get these loans until September 30, 2010. 15. Because this is emergency legislation, within 15 days after signing the bill, the SBA has to come up with regulations. Here is a summary of the actual legislative language if you are having trouble getting to sleep: . SEC. 506. BUSINESS STABILIZATION PROGRAM. (a) IN GENERAL- Subject to the availability of appropriations, the Administrator of the Small Business Administration shall carry out a program to provide loans on a deferred basis to viable (as such term is determined pursuant to regulation by the Administrator of the Small Business Administration) small business concerns that have a qualifying small business loan and are experiencing immediate financial hardship. (b) ELIGIBLE BORROWER- A small business concern as defined under section 3 of the Small Business Act (15 U.S.C. 632). (c) QUALIFYING SMALL BUSINESS LOAN- A loan made to a small business concern that meets the eligibility standards in section 7(a) of the Small Business Act (15 U.S.C. 636(a)) but shall not include loans guarantees (or loan guarantee commitments made) by the Administrator prior to the date of enactment of this Act. (d) LOAN SIZE- Loans guaranteed under this section may not exceed $35,000. (e) PURPOSE- Loans guaranteed under this program shall be used to make periodic payment of principal and interest, either in full or in part, on an existing qualifying small business loan for a period of time not to exceed 6 months. (f) LOAN TERMS- Loans made under this section shall: (1) carry a 100 percent guaranty; and (2) have interest fully subsidized for the period of repayment. (g) REPAYMENT- Repayment for loans made under this section shall-- (1) be amortized over a period of time not to exceed 5 years; and (2) not begin until 12 months after the final disbursement of funds is made. (h) COLLATERAL- The Administrator of the Small Business Administration may accept any available collateral, including subordinated liens, to secure loans made under this section. (i) FEES- The Administrator of the Small Business Administration is prohibited from charging any processing fees, origination fees, application fees, points, brokerage fees, bonus points, prepayment penalties, and other fees that could be charged to a loan applicant for loans under this section. (j) SUNSET- The Administrator of the Small Business Administration shall not issue loan guarantees under this section after September 30, 2010. (k) EMERGENCY RULEMAKING AUTHORITY- The Administrator of the Small Business Administration shall issue regulations under this section within 15 days after the date of enactment of this section. The notice requirements of section 553(b) of title 5, United States Code shall not apply to the promulgation of such regulations. The real question The real question is whether a private bank will loan under this program. Unfortunately, few will do so because the statute very clearly states that no fees whatsoever can be charged, and how can a bank make any money if they loan under those circumstances. Sure, they might make money in the secondary market, but that is dried up, so they basically are asked to make a loan out of the goodness of their heart. On the other hand, it carries a first ever 100% government guarantee so the bank's know they will be receiving interest and will have no possibility of losing a single dime. Maybe this will work after all. But there is something else that would be of interest to a bank. In a way, this is a form of Federal bailout going directly to small community banks. They have on their books loans that are in default and they could easily jump at the chance of being able to bail them out with this program. Especially if they had not been the recipients of the first TARP monies. Contrary to public sentiment, most of them did not receive any money. But again, this might not apply to that community bank. Since they typically package and sell their loans within three to six months, it probably wouldn't even be in default at that point. It would be in the hands of the secondary market investor. So is this good or bad for small businesses? Frankly, it's good to see that some bailout money is working its way toward small businesses, but most of them would rather have a loan in the first place, as opposed help when in default. Unfortunately, this will have a limited application. Wouldn't it be better if we simply expanded our small business programs so more businesses could get loans? How about the SBA creating a secondary market for small business loans? I have a novel idea: for the moment forget about defaults, and concentrate on making business loans available to start-ups or existing businesses wanting to expand. How about having a program that can pay off high-interest credit card balances? There is hardly a business out there that has not been financing themselves lately through credit cards, simply because banks are not making loans. It is not unusual for people to have $50,000 plus on their credit cards, just to stay afloat. Talk about saving high interest. You can imagine how much cash flow this would give a small business. We should applaud Congress for doing their best under short notice to come up with this plan. Sure this is a form of welcome bailout for small businesses, but I believe it misses the mark as to the majority of the 27 million business owners that are simply looking for a loan they can repay, as opposed to a handout Business funding. source https://www.mompopbizfunding.com/blog/business-funding-small-business-loan-update-stimulus-bill-helps-bailout-businesses-if-they-cannot

0 notes