Metropolitan Archives, a records storage company in Landover, northeast of Washington, that financed its warehouse in part with a $2 million loan guarantee under the 504 program
http://boss.blogs.nytimes.com/2009/10/20/obama-to-announce-small-business-stimulus/
Obama to Announce Small-Business Stimulus By Robb Mandelbaum The Agenda
President Obama will visit a Maryland business on Wednesday afternoon to announce initiatives to encourage lending to small businesses. According to an administration official, the proposal will increase the caps for existing Small Business Administration loans and give smaller banks better access to funds from the Troubled Assets Relief Program.
An industry official involved in S.B.A. lending said the White House would propose raising the cap on the agency’s flagship 7(a) loan from $2 million to $5 million. But other programs are likely to see increases, too, including the 504 program.
The event will take place at Metropolitan Archives, a records storage company in Landover, northeast of Washington, that financed its warehouse in part with a $2 million loan guarantee under the 504 program, according to Chris Crawford, president of the National Association of Development Companies, which lobbies for nonprofit 504 lenders.
Mr. Crawford said this particular business offered potent symbolism for Mr. Obama’s message. Metropolitan Archives, he said, is “looking for money to further expand their property, but they cannot do another S.B.A. loan under the current regulations” because $2 million is the most any business can borrow with an S.B.A. guarantee.
Changing S.B.A. programs would be subject to Congressional approval.
We expect to have more details on the initiative on Wednesday morning, in advance of Mr. Obama’s 1:30 p.m. announcement.
Stephen Labaton contributed reporting to this post.
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Read MoreData Dimensions buys Rockford storage facility
http://milwaukee.bizjournals.com/milwaukee/stories/2009/10/19/daily37.html
Data Dimensions buys Rockford storage facility The Business Journal of Milwaukee
Data Dimensions, a Janesville document management services company, said that it has acquired Ogilby Transfer & Storage, a privately held storage facility in Rockford, Ill.
The transfer includes more than 24,000 boxes and 47 clients to Data Dimension’s Records Management Center in Janesville. Terms of the transaction were not disclosed.
The announcement comes two weeks after the company said it had begun construction of a new operations facility adjacent to its headquarters in an expansion expected to create up to 250 jobs. The facility is expected to open in February 2010 and initially employ 50 workers.
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