Entrepreneur Night gets Wider Support and New Sponsors

Launched in late 2011 as an Open, Grassroots event for and by Entrepreneurs, the successful Entrepreneur Night event lands new sponsors for the Fall 2012 Series of Events:

• Intracoastal Bank
  A Palm Coast-based community and small-business friendly bank
• Mitchell Noel Insurance
  A full-service insurance agency with headquarters in Ormond Beach

Both organizations are on brand for Entrepreneur Night; and they both serve the Small Business Communities in Flagler and Volusia Counties.  Intracoastal Bank and Mitchell Noel join Office Divvy ™ and  Palm Coast Business Assistance Center as sponsors.

The event is open to anyone including Aspiring Entrepreneurs, Small Business Owners, those who support entrepreneurs, as well as Investors.

Each event features complimentary appetizers, a speed-networking slot with "Entrepreneur Dance Cards," cash bar, door prizes, and more.

The September event at McCharacters will also feature an Entrepreneur Karaoke Contest; and November's event at Pine Lakes will feature an Entrepreneur Putting Contest.

Participants expect to have a fun time, meet new peers, and have meaningful conversations with each other and learn from each other.  Hundreds are expected to attend each event this Fall. Participants come from Palm Coast, Bunnell, Flagler Beach, St. Augustine, Ormond and Daytona Beach and sometimes beyond.

Intracoastal Bank of Palm Coast to extend SBA Loans

Jacksonville Business Journal reported that six area banks had a total of $11.3 million in SBA loan approvals as of May 31, nearly the triple the amount compared to last year.

Among the six banks is Palm Coast's Intracoastal Bank.

Bruce Page, president and CEO of Intracoastal Bank in Palm Coast, said his bank is "putting a greater emphasis on SBA loan programs and is looking for prospective projects that might be eligible." Intracoastal is particularly interested in making 504 loans, and has made two this year.

How does the 504 loan work? The bank puts up 50 percent of the loan amount, a certified development company puts up 30 percent to 40 percent and the borrower is responsible for the remaining 10 percent to 20 percent of the balance.

Certified development companies are private, nonprofit corporations that act as intermediaries between the bank and the borrower, and they process and administer the 504 loans.

The 504 loan is made specifically for fixed assets, which are usually real estate-related costs such as acquiring land or buildings, expanding or renovating existing buildings and buying equipment.

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Small Business Resources in Palm Coast:

• Flagler County Chamber of Commerce
• SCORE® Volusia Flagler County
• Small Business Administration (SBA) 
• Office Divvy

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