Welcome to our new website!

August 27th, 2009

Thanks for taking a look at our new website.  We have a feeling you will find it a great tool for learning more about the SBA 504 program, determining eligibility, and receiving prompt responses to your inquiries. Remember, there is no substitute for a face to face meeting. We would be happy to meet with you at any time to discuss your specific project or just discuss the program in general.  Feel free to contact us.

Our new website has some amazing new tools, including:

• An eligibility wizard allows the user to determine if your specific project meets the SBA’s general eligibility requirements for the 504 Program.
• An on-line loan application that asks you to fill in only fields that are relevant to your specific loan request and prompts you with specific questions to help you determine what information you will need to provide, based upon your responses.
• A LIVE CHAT feature:  If you are online and want to speak to a loan specialist, you can choose this option and we can chat online, in real-time.
• A Bankers Only section with a banker specific information, flowcharts, and a more robust Eligibility Wizard.

Kick the tires, take a test drive.  We would love to know what you think.  Please feel free to send any comments using our contact form.   Once a month for the first few months, we will review the comments and our staff will determine which we feel best captures our intent for the site or provides us with some insight into how to improve it.  The winner will receive a $100 gift card.

Why a new website? Websites can be nothing more than electronic brochures–or–they can be interactive, even intelligent tools that guide users through a process that leads them to an educated, prudent decision.  If you were a visitor to our old site, you would have found it was informative, but it did nothing specific to help you determine if your particular project would meet the SBA 504 program requirements.  It also did not allow you the opportunity to start or complete the application process.  We did an extensive review of CDC websites across the country.  We were unable to find a site that can currently do everything our new site can do.

We wanted to address specific pain points that are felt by borrowers and lenders alike.  Some of the more common issues are:

• “I read this stuff and I feel like I need a PhD to figure it out”
• “I have to sift through a lot of information that doesn’t apply to my project to try to determine if I am eligible.  Even then, I’m not sure.”
• “I can’t apply online, or the application is really difficult to navigate and edit and I have to type the same thing on multiple forms again and again.”
• “I can never seem to reach someone when I have a question.”

We feel that we have addressed these concerns, however your feedback will help us continue to improve.  Please note, we are more than happy to complete the majority of the 504 application for you and just have you review and sign it.  If you prefer to start or finish the application without our assistance, our on-line application is a great tool.  In fact, we intend to use it internally to save time.

We look forward to hearing from you.

Regards,

The Bay Colony Staff

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