This is an interesting and informative article, from Politico, about AM radio in these current times.
This is an interesting and informative article, from Politico, about AM radio in these current times.
Marco Terry Contributing Writer
Getting the right funding can be crucial for growing a successful business.
Proper financing can be a tool that helps you improve your cash flow, make additional investments, and pursue new opportunities. However, securing financing may be difficult, especially for small and midsize companies.
You can finance a small or growing company in various ways. It’s a matter of knowing which financing solutions to use.
You can use your suppliers and clients to finance your business – to an extent. Request payment terms from your suppliers. Thirty days is good, though you can get longer terms if your company has a good payment history. By allowing you to delay payments to suppliers, payment terms improve your cash flow — often at no cost to you.
Clients can help you fund your business by prepaying for their orders. Prepayments can be hard to get, but they are obtainable if your services are in high demand or if your product is unique. Both supplier terms and client pre-payments are cost-effective ways of decreasing your need for external funding.
If your business needs less than $50,000, consider an SBA Microloan. They are ideal for new and growing businesses and for companies that can’t qualify for conventional financing. Microloans are provided by specialty lenders but are guaranteed by the SBA. They often include certain planning and training requirements designed to help your business.
A common problem for many businesses is that their clients pay invoices in 30 to 60 days. Some companies need to get paid sooner so that they can pay their own corporate expenses. One alternative to improve cash flow is to factor your receivables.
Factoring works by selling your open invoices to a finance company, who pays for them up-front. This payment provides you with funds to run your business, while the factor handles invoice collections.
Asset-based funding allows your company to finance its main assets: accounts receivable, inventory, and equipment. Lines secured by receivables and inventory behave much like lines of credit. Lines secured by equipment behave like term loans. Asset-based funding offers an intermediate solution for companies that have outgrown factoring but can’t get conventional financing.
Companies with larger funding needs can consider an SBA loan or line of credit. These options can be well-suited for established companies that need funds to improve cash flow or to make new investments. The SBA does not lend money itself; it acts as a secondary guarantor for banks that offer the service. Your company still needs to comply with lender covenants and must demonstrate to the lender the ability to repay the funding from its own cash flow.
Marco Terry is the managing director of Commercial Capital LLC, a company that provides invoice factoring, purchase order financing, and asset-based lending to small and midsized companies. The company operates in the United States and Canada.
by Evan Dickson, President, Nevada State Development Corporation
The following seven myths and facts refer to the U.S. Small Business Administration (SBA) Commercial Loan Program.
MYTH 1: It takes four to six months to get loan approval.
Fact: You can obtain SBA approval as quickly as ten business days.
Tip: Provide your lender with a complete package and answer your lender’s questions as soon as you can. Being available to the lender will greatly speed up the overall process.
MYTH 2: SBA loans are expensive.
Fact: All commercial real estate loans have loan fees, professional fees, and closing costs. The SBA 504 loan program will allow you to finance the fees associated with your 504 loan and use many of your out of pocket fees towards your 10% equity injection.
Tip: If there is enough value in your appraisal, additional fees and costs can be financed. (example: appraisal and environmental reports)
MYTH 3: SBA lending limits are too narrow.
Fact: SBA 504 loans start at $25,000 and can go as high as $5,500,000.
Tip: Talk to your local certified development company to see what you can qualify for based on your particular situation.
MYTH 4: It is hard to qualify for a loan based on my past.
Fact: People with a criminal history, bankruptcies, or significant credit issues can and have received financing through the SBA 504 loan program when they otherwise would not qualify for standard bank products.
Tip: Be forthcoming with all personal history as soon as possible, no matter how long ago the incident happened so your lender can address the possible issues. Your past does not have to stand in the way for your future.
MYTH 5: There is just too much paperwork.
Fact: The paperwork is comparable to that of any business loan. There are a few SBA documents that need to be completed, otherwise the packages for a commercial real estate loan and SBA 504 loan are the same.
Tip: Work with your local certified development company so they can share the pertinent documents with the local lender.
MYTH 6: I have to put down 30% to buy or build a commercial building and pledge my home.
Fact: Most businesses qualify for 10% down when they use SBA 504 financing for their purchase. In most cases, the loans are only secured by the building and/or machinery being financed and the personal guarantees of majority business owners applying for financing.
Tip: To qualify for the lowest down payment, your business must have two years of verifiable income. Also, be sure your business ownership structure is in line with the business’ future goals of real estate ownership before applying for financing.
MYTH 7: Fixed rate commercial loans or refinancing of existing business debts are seldom available.
Fact: The benefits of an SBA 504 loan include a low down payment, longer loan terms, and larger loan amounts that may be available through a conventional loan. In most cases, the borrower’s down payment will be 10% of project costs. Interest rates on the SBA 504 loan are below market rate and are fixed for the duration of the loan term (10, 20, and 25 years). Eligible small businesses may also be able to refinance certain qualified existing debt under the SBA 504 Debt Refinancing Program. Loans made through this program are structured like traditional 504 loans. Borrowers can refinance up to 90% of the current appraised property value. The refinancing may also include a limited amount of eligible business expenses.
Tip: Ask your bank for an SBA 504 loan/refinance if you are considering financing through this particular program. Banks have a lot of different loan products and the SBA 504 loan may not be something that they do often but could provide the best solution for your particular situation.
Nevada State Development Corporation (NSDC) www.NSDC.COM is a local non-profit certified development company licensed by the U.S. Small Business Administration (SBA) to assist business owners in obtaining financing through the SBA’s 504 Loan Program. With over 32 years of experience in business financing, NSDC has forged strong relationships with numerous financial institutions and brokers throughout the region.
Reno office: 6572 S. McCarran Blvd.; 775-770-1240
Las Vegas office: 1551 Desert Crossing Ct.; Office: 702-877-9111
by Corrine Casanova, bizNEVADA Magazine
According to the U.S. Small Business Administration (SBA), over half of the U.S. workforce either owns or works for a small business. In fact, small businesses create two out of every three net new jobs in the private sectors. Rachel Dahl, a sixth generation Nevadan, has been the Senior Area Manager of SBA since March 2018. “You can’t do economic development without strengthening your small business community. It is paramount to being able to attract new business to the area. In my mind, you can’t do one without the other,” said Dahl.
Small businesses are the drivers of Nevada’s growing economy. Nationwide, there are 30.2 million small business owners and in Nevada alone there are 254,337 small businesses. (US SBA Office of Advocacy, 2018).
Nevada Small Business Facts:
The SBA’s mission is “to maintain and strengthen the nation’s economy by enabling the establishment and viability of small businesses and by assisting the economic recovery of communities after disasters.” Depending on your industry, a small business could be defined as a business with a maximum of 250 employees or 1,500 employees. Privately owned corporations, partnerships or sole proprietorships can all be classified as small businesses.
Dahl is passionate about growing the small business community here in Nevada. “I always go back to the economic development world when I think about how important small businesses are. You spend all your time chasing that one big company to come to your town and hire 500 local people, but if you focus on your small business community, you can achieve similar results but in a different way. You can end up with maybe 100 really strong small businesses and achieve your 500-employee quota. That way the community can absorb all of the things that come with that workforce including housing and so on. I don’t belittle developing a community by attracting large businesses and when it happens, it is fabulous but I think a lot of time we get stars in our eyes wanting that one 500 employee factory and totally forget to take care of our small businesses. When that happens, suddenly you have no strengths in your small business community and you don’t have the infrastructure to attract a big company,” said Dahl.
Joseph Amato is the District Director of SBA in Las Vegas. He sees Nevada as a land of entrepreneurial opportunity with its low tax and low regulatory environment. “The SBA is a primary resource for government guaranteed and fixed-asset loan programs. The SBA serves as an integral partner with area, regional and national lenders that seek to provide competitive commercial loans utilizing these loan programs. Access to capital remains a priority and our efforts to increase small business lending will reflect the importance of our lending-related programs to the Nevada small business community,” said Amato. There are 13 banks headquartered in Nevada that work with the SBA to provide loans. However, most lenders have the authority to make loans nationwide. Currently, 69 banks have made SBA loans in Nevada this fiscal year.
In Dahl’s role as the Nevada Service Area Manager for SBA, she travels extensively throughout the state doing outreach letting the community know about the resources available to them. Frequently, she delivers the most recent Small Business Resource Guide that contains an overview of the depth and breadth of the services they provide. Many aren’t aware of the training SBA provides small businesses. On their website, http://www.sba.gov/offices/district/nv/las-vegas, they have a learning center which includes training videos that include writing a business plan, marketing and anything else you’d like to know about running a small business.
“One of the strengths of the SBA in Nevada is our resource partners. These include: the Nevada Small Business Development Center, Nevada Women’s Business Center, SCORE Northern Nevada, and Las Vegas, the Procurement Outreach Program, the Procurement Technical Assistance Center. All of these help small businesses gain access to government contracts. Often, small businesses aren’t taking advantage of government contracting,” said Dahl. She shared a hypothetical example of someone who owns a cupcake shop. They may not consider applying to be a government contractor because they wouldn’t know how it could benefit them. They may be missing a huge opportunity when suddenly a government agency wants 500 cupcakes once a month for an ongoing event. “If you can land a government contract, that can become the bread and butter of your business. You can then rely on a certain amount of money in a certain time period. It gives your business stability. Government contracting is a focus of ours right now. We just don’t believe small businesses are taking advantage of this opportunity enough,” said Dahl.
Nevada’s SBA works closely with other government agencies including the Governor’s Office of Economic Development. “All the different agencies at the local, state and federal levels work together. In the state of Nevada, our strength is that we respect the heck out of each other to support small businesses in our community. Everyone works together and it is awesome,” Dahl concluded.
April 10 will be an important day on AM owners’ 2017 calendars. That’s the date the Federal Communication Commission has announced it will begin allowing operators to use new streamlined regulations when siting an AM’s sister FM translator.
The Commission unanimously voted last month to do away with the existing tower siting rules that have been seen as too restrictive by many owners. It requires an AM station to place a rebroadcasting FM translator either within its daytime service contour or within a 25-mile radius of its transmitter, whichever distance was less. But the new rule allows the rebroadcasting FM translator to be located anywhere within the AM station’s daytime service contour or anywhere within a 25-mile radius of the transmitter, even if the contour extends farther than 25 miles from the transmitter. The April 10 start date is timed to coincide with publication of the rule change in the Federal Register on Thursday.
Media Bureau acting chief Michelle Carey has said the change will give AM owners “added flexibility” when working to improve a station’s coverage area while at the same time reducing the “regulatory burdens” faced by broadcasters.
The latest move comes as the FCC gears up to open up filing windows, allowing AM broadcasters to secure an FM signal. During last year’s two filing windows, the Commission temporarily gave owners the ability to move translators up to 250 miles to pair with an AM. FCC chair Ajit Pai has classified the effort as a “tremendous success” as more than 1,000 applications have been granted so far. The Media Bureau is bracing for a similar response in the upcoming 2017 auction filing windows opening up FM translator opportunities to companies that didn’t take part in last year’s translator gold rush.
|K23MM-D||ALEXANDRIA, LA||CP Off Air||146,878 pops|
|K33MP-D||ALEXANDRIA, LA||CP Off Air||231,106 pops|
|K40MB-D||MONROE, LA||CP Off Air||290,848 pops|
|W42EA-D||MERIDAN MS||LIC TX||40,000 pops (EST.)|
|W21DB-D||MERIDAN MS||LIC TX||74,595 pops (EST.)|
|K25BD-D||BRANSON MO||LIC LD||164,756 pops|
From Inside Radio
SALES – STATIONS
Mississippi – Stephen Davenport’s TeleSouth Communications files a $1.15 million deal to buy three stations from Olvie Sisk’s Air South Radio. It pays $150,000 for classic hits “Max 95.9” WCNA, Potts Camp, MS; and $500,000 a piece for AC Power 101.9” WFTA, Fulton, MS and hot AC WLZA, Eupora, MS (96.1). With WCNA and WFTA in the Tupelo market, the deal will give TeleSouth a four-station cluster in the city where it already operates “Super Talk” WWMR (102.9) and sports “96.3 The Ticket” WXWX under a time brokerage agreement with Flinn Broadcasting.
Wisconsin – Tom and JoAnn Boyson’s Hometown Broadcasting files a $325,000 deal to buy “Classic Hits 1600” WRPN, Ripon, WI from Mike Enfeldt’s Radio One Communications. Hometown Broadcasting already owns classic hits “102.3 The Bug” WAUH and “News Talk 1100” WISS in the area.
Virginia – Earl Cole files a $42,000 deal to buy variety “YOURadio 770” WYRV, Cedar Bluff, VA from Faith Communications. Cole also holds the license to southern gospel low-power FM “88.1 God’s Country” WNBV, Grundy, VA although the two signals don’t overlap.
Texas – Nancy Malone’s ELB Broadcasting files a deal to buy “New Country AM 1470 The Twister” KDHN, Dimmitt, TX from Collins Communications for $10. Malone doesn’t own any other stations.
Multistate Deal – Todd Boehly has resigned from his position of the investor group that controls Access.1 Communications. In a deal valued at one dollar Boehly is transferring 100% of his rights to Kevin Gundersen, who will become the sole manager of the holding company. Gundersen has already served as a company director. He is also a director at Guggenheim Partners, the financial backer behind Access.1 Communications. Access.1 has been downsizing its portfolio and currently has a pending $7 million deal to sell ethnic “Radio Zindagi” WWRL (1600) in suburban New York City to Nimisha Shukla’s NJ Broadcasting. Shukla, a pediatric physician, is already operating the station under a local marketing agreement until closing. Access.1 also has a pending $75,000 deal to sell Spanish-language WGYM (1580) in Atlantic City to the Domestic Church Media Foundation. The deals follow last year’s nine station spin-off to Alpha Media for $13.75 million. The latest sales will leave Access.1 with three stations – regional Mexican “La Invasora” KSYR-FM in Shreveport, LA and its simulcast KCUL-FM (92.3) in the adjacent Tyler-Longview, TX market where it also owns “Fox Sports Radio 1370” KFRO.
North Carolina – Crystal Gardens files to donate adult standards/religious low-power station WDSG-LP, Sanford, NC (107.9) to The Sounds of Sanford. No cash is changing hands in the deal however the value of the LPFM is pegged at $9,690.
Missouri – Calvary Chapel Bethany files to donate religious “Radio Bethany 91.3” KMWC, Bethany, MO to Penfold Media. No cash is changing hands as part of the transfer. The donation will give the Temecula, CA-based religious broadcaster its ninth full-power station and its first in Missouri.
SALES – TRANSLATORS
Arizona – Rick Murphy files a $220,700 deal to buy 10 translators in Arizona from Donald Hendren. The deal includes the Kingman, AZ-licensed K230BN at 93.9 FM which will rebroadcast oldies “K-Fat 107.7” KFTT in the Flagstaff-Prescott, AZ market; the Parker, AZ-licensed K228FF at 93.5 FM which will simulcast classic rock “K-Rock 100.7” KRRK, Desert Hills, AZ; the Kingman, AZ-licensed K270CB at 101.9 FM which will also simulcast KRRK; the Quartzsite, AZ-licensed K249EU at 97.7 FM which will also simulcast KRRK; the Quartzsite, AZ-licensed translator K279CM at 103.7 FM which will also simulcast KRRK; the Kingman, AZ-licensed K239CA at 95.7 FM which will simulcast AC “Kazual 104.5” KZUL-FM, Lake Havasu City, AZ; the Parker, AZ-licensed K277CN at 103.3 FM which will also simulcast KZUL-FM; the Quartzsite, AZ-licensed K268CH at 101.5 FM which will also relay KZUL-FM; the Kingman, AZ-licensed K247CD at 97.3 FM which will simulcast classic hits “Krazy FM” KRCY-FM, Lake Havasu City (96.7); and the Kingman, AZ-licensed K269GE at 101.7 FM which will simulcast suburban Las Vegas country outlet “K-Triple J” KJJJ, Laughlin, NV (102.3).
New Orleans – Ernesto Schweikert’s Crocodile Broadcasting files a $220,000 deal to buy the New Orleans-licensed translator K248BB at 97.5 FM from Clark Parrish’s Edgewater Broadcasting. The translator will relay the classical programing from the HD2 channel of Louisiana State University’s news/talk WWNO (89.9).
Columbia, SC – Alpha Media files a $174,500 deal to buy the Orangeburg, SC-licensed translator W259CL at 99.7 FM from Miller Communications. Alpha Media tells the FCC it plans to relay the HD2 programming of hot AC “Q-93.5” WARQ on the translator. Broker: Fowler Media Consulting
Georgia – Norsan Communications files a $70,000 deal to buy the Sparta, GA-licensed translator W254BN at 98.7 FM from Radio Training Network. Norsan is expected to relocate the translator out of the Augusta, GA market however the filing doesn’t indicate to where it will move the signal.
Ohio – Johnson County Broadcasting files a $60,000 deal to buy the Jackson, OH-licensed translator W237DM at 95.3 FM from Positive Alternative Radio. Johnson County Broadcasting will relocate the signal to simulcast country/gospel “Family Friendly Radio 1390” WMCT, Mountain City, TN. Broker: Robert Branch
Texas – Siga Broadcasting files a $51,000 deal to buy the Hebbronville, TX-licensed translator K278BT at 103.5 FM from Armida Saille. The signal will be relocated to San Antonio to give Siga Broadcasting’s Spanish-language religious daytime-only KTMR (1130) a 24-hour FM outlet.
South Carolina – Lamm Media Group files a $50,000 deal to buy the Hampton, SC-licensed translator W288DH at 105.5 FM from Radio Training Network. Mickey Lamm will move the signal across the state line to the Raleigh-Durham, NC metro where he will use the translator to give country/bluegrass daytime-only WTSB (1090) a 24-hour FM simulcast.
Missouri – Howard Doss’ STARadio files a $50,000 deal to buy two translators from John Holman’s Covenant Network. The deal includes the Hannibal, MO-licensed translator K277CF at 103.3 FM which STARadio will relocate to simulcast “Talk Radio 930” WTAD, Quincy, IL. STARadio also buys the Galesburg, IL-licensed W283BX at 104.5 FM which it will also relocate to simulcast news/talk WKAN, Kankakee, IL (1320). The deal values the translators at $25,000 apiece.
Killeen-Temple, TX – Steve Williams’ American Broadcasting of Texas files a $35,000 deal to buy the Temple, TX-licensed translator K267CA at 101.1 FM from Carl Auel’s American Educational Broadcasting. Williams is expected to relocate the translator to the Waco, TX market where it owns talk/religious teaching KBBW (1010).
Arkansas – Palmer Johnson files a $35,000 deal to buy the Stuttgart, AR-licensed translator K254CG at 98.7 FM from Bobby Caldwell’s East Arkansas Broadcasters. Johnson is a veteran broadcast engineer. East Arkansas Broadcasters simulcasts “Country 97.3” KDEW-FM, De Witt, AR on the translator.
Florida – Manny Arroyo files a $30,000 deal to buy the Melbourne, FL-licensed translator W270CK at 101.9 FM from Cornerstone Community Radio. Arroyo will relocate the signal from the Melbourne-Titusville-Cocoa market to the Tampa metro where it will be used to give regional Mexican “La Ley 1550” WAMA an FM simulcast.
Wyoming – The University of Wyoming files a $17,000 deal to buy the Laramie, WY-licensed translator K280BM at 103.9 FM from Laramie Plains Antenna TV Association. The deal will allow Wyoming Public Radio to potentially split the news-talk and adult alternative programming that is currently airing on KUWR, Laramie (91.9).
Iowa – Walnut Radio files a $7,500 deal to buy the Atlantic, IA-licensed translator K281CJ at 104.1 FM from VSS Catholic Communications. Walnut Radio will relocate the signal to the Omaha, NE market where it will simulcast oldies “Boomer 1490” KOMJ.
Alabama – Red Mountain Ventures transfers the Mooresville, AL-licensed translator W243AP at 96.5 FM to Shelby Broadcast Associates. No cash is changing hands as part of the deal. The translator simulcasts Huntsville, AL market AC “Mix 96.9” WRSA-FM.
Wyoming – IHeartMedia closes a $500,000 deal to buy Cheyenne, WY market hot AC “92.9 The Boss” KOLT-FM from Valley Bank and Trust. KOLT-FM has been operated by Montgomery Broadcasting under a local marketing agreement. The deal gives iHeartMedia a third station in Cheyenne, where it already owns country “Kolt 100.7” KOLZ and “Big Country 97.9” KXBG.
Illinois – Educational Media Foundation closes a $450,000 deal to buy AC WYNG, Mt. Carmel, IL (94.9) from Withers Broadcasting. The deal gives EMF a second station in the Evansville market where it already owns contemporary Christian “K-Love” affiliate WKVN (95.3).
Claiming the FCC’s proposed 40-mile limit on locating FM translators may “unnecessarily hinder their use by some AM stations,” the National Association Of Broadcasters has asked the commission to modify the proposal as part its AM revitalization undertaking.
In comments filed on the commission’s Monday deadline day, the NAB notes how existing rules require that the 60 dBµ contour of an FM translator be contained within the smaller of the 25-mile radius from the AM station’s transmitter site, or the AM station’s daytime 2 mV/m contour. The NAB calls that “too restrictive in certain situations,” such as when a station’s transmitter site is located far from the population center due to land costs. The existing rule could make it difficult for a station to cover a core service area located beyond the 25-mile radius, but within the 2 mV/m contour, the NAB says, “preventing stations from using an FM translator where it is needed the most.” Instead of keeping the translator’s signal contour to the smaller of these two limits, the NAB earlier proposed allowing it to cover the greater of the two benchmarks.
Read more at Inside Radio
The FCC has proposed a series of well-intentioned ways to revitalize AM radio. But the best thing it can do to rejuvenate the legacy band is control and reduce the ever-increasing interference that degrades AM signal quality. That’s a crucial point the National Association of Broadcasters makes in its comments on the commission’s AM proposals.
From electric power lines and electronic signs to fluorescent and LED lights and computers, AM radio is bombarded with growing interference. It’s gotten so bad that many stations no longer enjoy interference-free service out to the 0.5 mV/m contour. The NAB is pushing the commission to review its rules and policies to clarify that all such devices fall within its purview. The trade group also wants the commission to “more rigorously enforce violations” of those rules.
Read more at Inside Radio