New Stimulus Effort Should Focus on Small Business, Business Incubators, Economic Gardening, says Incubation Expert

ORLANDO, Fla. --- The next step in stimulating the national economy’s recovery from the worst recession since World War II should focus on small business, business incubators and economic gardening, said Dr. Tom O’Neal, founder and executive director of the University of Central Florida Business Incubation Program.

“Most of the net new jobs in the U.S. are created by a relatively small number of small businesses,” Dr. O’Neal said.

“A stimulus package that targets small companies and support programs such as qualified business incubators and economic gardening efforts, would likely generate a substantially higher return on investment than other efforts that target the nation’s economic recovery,” Dr. O’Neal said.

Dr. O’Neal said that while current stimulus programs have shored up the nation’s financial system, investment capital programs targeting small and expanding business that would generate growth and new jobs isn’t forthcoming.

“Something to stimulate investment in small business would be huge right now,” Dr. O’Neal said.
“Incubation programs and economic gardening is a good investment, but the well is dry right now for expansion capital. Many sound, promising new businesses are poised for growth and expansion, but they don’t have access to capital to fund that growth,” Dr. O’Neal explained.

“They’re successful but they’re stuck. We need something to free up the capital markets and get the investment capital flowing again,” he said.

Dr. O’Neal, who recently received the Regional Outstanding Resource Partner Award from the Florida Small Business Development Center Network, said successful incubation programs help entrepreneurs shape promising business concepts into thriving enterprises that create new jobs and new revenues.

“We know how to identify startup enterprises with the highest chances of success, and we know how to accelerate their growth as sustainable companies,” O’Neal said.

“There is a lack in investment capital, and that’s where stimulus efforts could help the most,” he concludes.

For more information about this release contact:

Dr. Tom O’Neal, Executive Director, UCF Business Incubation Program, 407 882-1120, oneal@mail.ucf.edu;

Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142 or LvershelCo@aol.com.

About the UCF Incubation Program:

Since its founding in 1999, the UCF Business Incubation Program has helped more than 130 emerging companies (including nearly 80 current clients) create over $500 million in annual revenue and more than 1600 new jobs with an average salary of $59,000. With six facilities across the Greater Orlando community, the Incubation Program is a collaboration in economic development between the University of Central Florida, Orange County, the City of Orlando, Seminole County, the City of Winter Springs, The City of Sanford, Lake County, the City of Leesburg, and the Florida High Tech Corridor Council. For more information, please visit http://www.incubator.ucf.edu/.

Ashton Woods Homes Goes U.S. Government One Better with $8,000 Stimulus for all new Home Buyers

ORLANDO, Fla. --- Ashton Woods Homes reported it is offering an $8,000 Ashton Woods Homes stimulus grant to all new home buyers in the Orlando and Tampa Bay regions.

Michael Roche, vice president of sales and marketing for Ashton Woods Homes in Orlando and Tampa, said the $8,000 stimulus applies to all new home buyers, whether or not they qualify for the $8,000 U.S. federal tax credit that ends Nov. 30.

“We announced our stimulus grant because a number of home buyers are worried their homes won’t be completed in time to qualify for the $8,000 U.S. tax credit,” Roche said.

“In addition, the federal tax credit only applies to new home buyers. The $8,000 Ashton Woods Homes stimulus grant applies to all home buyers,” he said.

Ashton Woods Homes builds single-family homes and town homes in seven Orlando-area communities and six in the Tampa Bay region.

Ashton Woods Homes is a subsidiary of the Great Gulf Group of Companies, a North American real estate conglomerate headquartered in Toronto, and currently has communities under development in Houston, Dallas, Atlanta, Phoenix, Tampa, Denver and Orlando.

For more information, contact:
Michael Roche, VP Sales & Marketing Ashton Woods Homes-Orlando/Tampa, 407-647-3700;
John Reny, President, Ashton Woods Homes-Orlando/Tampa 407-647-3700
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142

Beazer Homes Offers Special Discounted Prices at Dupree Lakes in Land O’Lakes

TAMPA, Fla. – Beazer Homes is offering special discounted prices starting from the $140s at Dupree Lakes, the new home community located off Ehren’s Cutoff and S.R. 41 in Land O’Lakes.

Karey Rhodes, sales manager for Beazer Homes in the Tampa Bay region, said Beazer Homes has completed four ready-to-move-in homes at Dupree Lakes, priced from $139,900.

Rhodes said all four ready-to-move-in homes will likely sell before Oct. 30 and close by Nov. 30. That’s the cutoff date for the $8,000 U.S. Federal Tax credit for new home buyers, and it has already generated a surge in model home visitors, Rhodes said.

Dupree Lakes features a community clubhouse with resort-style swimming pool, soccer field, basketball and tennis courts and walking trails.

For more information, contact:
Karey Rhodes, Sales Manager, Beazer Homes/Tampa 813-663-9002 Krhodes@beazer.com

David Byrnes President Beazer Homes / Florida Division - 407-339-4114 dbyrnes@beazer.com

Theresa Tilton, Vice President of Sales Beazer Homes /Florida Division 407-339-4114; ttilton@beazer.com

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142

About Beazer Homes
Beazer Homes, headquartered in Atlanta, is one of the country's 10 largest single-family homebuilders with operations in 17 states. Beazer Homes is listed on the New York Stock Exchange under the ticker symbol "BZH."

Beazer has Five Move-In-Ready Homes at Legacy near Downtown Orlando, and a rush of Tax Credit Buyers Expected

ORLANDO, Fla. - Beazer Homes has five ready-to-move-in single family homes at Legacy, the lakefront community off S. Orange and Holden Aves., minutes from downtown Orlando.


Theresa Tilton, vice president of sales for Beazer Homes in Florida, said three, four and five-bedroom homes at Legacy range in size from 2,284 square feet of living space to 3,500 square feet.


Tilton said all five homes will likely sell before Nov. 30. That’s the cutoff date for the $8,000 federal tax credit for new home buyers, and it has already generated a surge in model home visitors at Legacy, Tilton said.


New Homes at Legacy are priced from the $300. Altogether 40 home sites remain for sale at the community.


Legacy features a private lakeside park with viewing dock to Lake Jessamine and it is one of the last new home communities in the downtown Orlando area.


For more information, contact:
David Byrnes President Beazer Homes / Florida Division - 407-339-4114 dbyrnes@beazer.com


Theresa Tilton, Vice President of Sales Beazer Homes /Florida Division 407-339-4114; ttilton@beazer.com


Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142


About Beazer Homes:
Beazer Homes, headquartered in Atlanta, is one of the country's 10 largest single-family homebuilders with operations in 17 states. Beazer Homes is listed on the New York Stock Exchange under the ticker symbol "BZH."

Mercantile Capital Corp Reports Record Low Interest Rate on SBA 504 Loans

ALTAMONTE SPRINGS, Fla. - Mercantile Capital Corporation, which specializes in U.S. Small Business Administration (SBA) 504 loans for owners of small businesses who want to acquire their own facilities, reports a record low for the 20-year fixed interest rate on SBA 504 loan projects. This month, the rate fell to 5.14 percent, the lowest since the program’s inception more than 25 years ago.

“This record low interest rate for SBA 504 loans, combined with the fee reductions included in the Stimulus Bill, makes it even more attractive for business owners to purchase or expand their facilities. And this is the second time in three months that we’ve reported this,” said Chris Hurn, CEO and Co-founder of Mercantile Capital Corporation.

SBA 504 loans allow owners of small and mid-sized businesses to purchase, construct, or renovate their commercial property with as little as 10 percent down, long terms (up to 25 years) and fixed interest rates. Equipment and other fixed assets can also be included in these loans, to the benefit of the borrower.

“The SBA 504 loan has long been a powerful tool for business owners to grow and expand their operations. I hope the announcement of this historically low interest rate will cause more of America’s entrepreneurs to perk up and realize that there are once-in-a-generation opportunities for them to create wealth and help get our economy back on track,” said Hurn.

Mercantile Capital Corporation ranks as one of the most active providers of SBA 504 loans nationwide, providing owners of small and mid-sized businesses the option to own commercial property with up to 90 percent loan-to-cost financing.

Visit www.504Experts.com or www.504blog.com for more information.

For more information about this news release contact:
Chris Hurn, CEO, Mercantile Capital Corporation, 407-786-5040
Geof Longstaff, Chairman, Mercantile Capital Corporation, 407-786-5040
Shannon D. Marks, President/COO, Mercantile Capital Corporation, 407-786-5040
Larry Vershel, Larry Vershel Communications 407-644-4142

Expansion of SBA’s latest initiative could have dramatic impact on Small Businesses, National Economy, says Chris Hurn

Expansion of SBA’s latest initiative could have dramatic impact on Small Businesses, National Economy, says Chris Hurn

ALTAMONTE SPRINGS, Fla. - The U.S. Small Business Administration’s helpful decision recently to extend its SBA-504 lending program ---which helps small business owners who want to acquire or develop their own facilities---doesn’t go far enough, says Chris Hurn, chief executive officer of Mercantile Capital Corporation in Altamonte Springs.

Hurn’s analysis, which he published at www.504Experts.com, is getting some major media traction, including a lengthy interview in the New York Times.

The most recent SBA initiative---announced last February and put into effect recently---extends the SBA’s 504 lending program to include refinancing.

Hurn gives the SBA credit for extending the 504 loan program. But the SBA initiative requires businesses to use new funds for expansion purposes only.

“That’s the kink,” Hurn said. “How many small businesses are in an expansion mode in this economy?” he asked.

Billions of dollars worth of potential small business loans go unfunded every year, Hurn said.

“That money needs to be in the marketplace to have any positive effect on small business growth. The $255 million,” Hurn said.

The numbers back Hurn’s proposition: SBA 504 loans are down 41.5 percent this fiscal year and the total dollar amount funded has dropped 42.5 percent from last year.

“The SBA is moving in the right direction, but the positive impact on small business growth in the U.S. would be explosive if SBA would lift its restriction to small business expansion and open the door to true refinancing,” Hurn added.

For more information, contact:
Chris Hurn, Chief Executive Officer Mercantile Capital Corporation, 407-786-5040
Shannon Marks, President, Mercantile Capital Corporation, 407-786-5040
Larry Vershel, Larry Vershel Communications 407-644-4142

Park Plaza Gardens to Offer Economic Stimulus Menus in May With Three Course Meals at a Special Price

Park Plaza Gardens to Offer Economic Stimulus Menus in May With Three Course Meals at a Special Price

WINTER PARK, Fla. - Park Plaza Gardens Restaurant at 319 Park Avenue South in downtown Winter Park is offering special Economic Stimulus Menus in May.

Ron Schwartz, a principal at Park Plaza Gardens, said Chef John Tan has created a special three-course menu priced at $29.95 on any day during the month of May that includes soups, salads and choice of pork tenderloin, grilled chicken breast or fresh catch filets.

A separate Stimulus Menu featuring tenderloin of beef is offered every Sunday and Monday during May for $29.95, Schwartz said.

For more information, contacts:
Park Plaza Gardens, 407-645-2475, http://www.parkplazagardens.com/

Ron Schwartz, Principal, Park Plaza Gardens, 407-342-3648

Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142

UCF and City of Orlando Business Development Center on Colonial Drive to Expand

UCF and City of Orlando Business Development Center on Colonial Drive to Expand

ORLANDO, Fla. - The Orlando Business Development Center District 2, (OBDC) a partnership of the City of Orlando and the University of Central Florida Business Incubation Program, located at 3218 E. Colonial Drive, will expand over the next 90 days.

Dr. Tom O’Neal, associate vice president for the University’s Department of Research & Commercialization and executive director of the UCF Business Incubation Program, said the center will more than double the size of its facilities from 2,400 square feet of office space to 6,000 square feet.

O’Neal said UCF is currently interviewing applicants to choose a full-time site manager for OBDC, which opened last year directly across from Fashion Square mall.

“Even in this economic slump, we are seeing a steady interest in business incubation from new companies in the community and we are increasing our capacity to serve more entrepreneurial enterprises,” O’Neal explained.

O’Neal said the Orlando Business Development Center was empowered by a recent nationwide study that shows business incubators rank as the most cost effective stimulators of local economic development.

“Job growth and economic activity in the U.S. are largely dependent on the health of small business enterprises, and effective business incubator programs are one of the best ways to stimulate small business growth and development,” O’Neal said. O’Neal said UCF Business Incubation Program client companies are already positioning themselves to take advantage of new funding offered by the U.S. Economic Recovery Act and stimulus programs.

The UCF Business Incubation Program currently serves more than 70 full-time client companies in five locations, and provides a wide range of walk-in services.

For more information contact:
Tom O’Neal. Ph.D, UCF Associate Vice President for Research and Commercialization and Incubation Program Executive Director, 407-882-1120, oneal@mail.ucf.edu;
Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 Lvershelco@aol.com

About the UCF Incubation Program:
Since its founding in 1999, the UCF Incubation Program has helped more than 100 emerging companies (including nearly 70 current clients) create over $500 million in annual revenue and more than 900 new jobs with an average salary of $59,000. With five facilities across the metro Orlando community, the Incubation Program is a collaboration in economic development between UCF, Orange County, the City of Orlando, Seminole County, the City of Winter Springs, and the Florida High Tech Corridor Council. For more information, please visit http://www.incubator.ucf.edu/.

UCF Incubation Program eyes U.S. Economic Stimulation grants for client companies, alternative energy, healthcare are big targets

UCF Incubation Program eyes U.S. Economic Stimulation grants for client companies, alternative energy, healthcare are big targets

ORLANDO, Fla. - Many of the more than 60 client companies at the University of Central Florida’s Business Incubation Program could benefit from U.S. Economic Stimulus Program funding grants, loans and incentives, says founder and head of the program, Dr. Tom O’Neal, associate vice president for the UCF’s Department of Research and Commercialization.

But O’Neal cautioned that competition for the incentives could be tough.

“We anticipate there will be hundreds of companies writing grants and presenting proposals, so the competition for new funding should be brisk,” O’Neal said.

Many economic stimulus funding programs seem tailor-made for client companies in the UCF Business Incubation Program, O’Neal said.

For example, the U.S. Economic Development Administration (EDA) has more than $150 million in new funding available to encourage entrepreneurship and innovation.

The National Institute of Health (NIH) received a 30 percent increase in their funding. “If that increases our grant success rate from 10-15 percent, that can be a significant boost,” O’Neal said.

New policy directions announced by the U.S. Department of Defense could aid the UCF Business Incubation’s technology companies as well.

Earlier, U.S. Secretary of Defense Robert Gates announced his preference for smaller, smarter defense innovations over multi-billion dollar weapons systems.

“That emphasis should effect our client companies,” O’Neal said. “Several companies competing for Small Business Administration SBIR and STTR grants for the defense industry are focused on small, innovative projects that substantially reduce costs and improve defense capabilities,” he said.

For more information contact:
Tom O’Neal. Ph.D, UCF Associate Vice President for Research and Commercialization and Incubation Program Executive Director, 407-882-1120, oneal@mail.ucf.edu;
Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 Lvershelco@aol.com

About the UCF Incubation Program:
Since its founding in 1999, the UCF Incubation Program has helped more than 100 emerging companies (including nearly 70 current clients) create over $500 million in annual revenue and more than 900 new jobs with an average salary of $59,000. With five facilities across the metro Orlando community, the Incubation Program is a collaboration in economic development between UCF, Orange County, the City of Orlando, Seminole County, the City of Winter Springs, and the Florida High Tech Corridor Council. For more information, please visit http://www.incubator.ucf.edu/.

U.S. Economic Stimulus Program Contains Promising Elements,But Not Enough, Lender Says

U.S. Economic Stimulus Program Contains Promising Elements,But Not Enough, Lender Says

ALTAMONTE SPRINGS, Fla. - The U.S. Economic Stimulus program has many good elements that will help small businesses but some miss the point, according to Christopher Hurn, chief executive officer of one of the nation’s leading providers of U.S. Small Business Administration (SBA) 504 loans for small business owners.

Hurn, CEO of Mercantile Capital Corporation based in Altamonte Springs and a popular speaker at banking conferences and seminars who posts his own blog at http://www.504blog.com/, said the U.S. Economic Stimulus program deserves kudos for promising to buy up to $15 billion worth of guaranteed SBA loans.

Hurn said the stimulus package also eliminates all SBA fees on both SBA 504 loans and the agency’s SBA 7(a) loan program at a cost of $245 million.

In addition, the administration has announced it will waive capital gains taxes for small business owners who hold or have held their shares for a minimum of five years.
“Those are positive signs for small business owners,” Hurn said.

“The Treasury buys in the secondary market will add liquidity to the banking environment and thaw out the secondary market and commercial lending---small business lending,” Hurn explained.

But, Hurn cautioned, temporarily eliminating fees on SBA loans won’t have much effect on economic stimulation or job growth.

“Fee elimination, even on a temporary basis, doesn’t impact small business owners that much because these aren’t out-of-pocket fees. These fees are actually financed in the loans, so even though it sounds good rhetorically, I don’t know that it’s going to have much of a stimulative effect,” Hurn said.

Hurn said the stimulus program fails in some other regards as well.

“We haven’t addressed any taxation at all,” he said. “There are no new higher tax credits for 2009, which I think would help grow the job base if properly incentivized. There is no mention of a payroll tax holiday for 2009. That would put more dollars in employees’ and employers’ pockets, and these are the kinds of elements that would have an immediate effect and jump start the economy,” Hurn said.

For more information, please contact
Chris Hurn, CEO, Mercantile Capital Corporation, 407-786-5040
Geof Longstaff, Chairman, Mercantile Capital Corporation, 407-786-5040
Shannon D. Marks, COO, Mercantile Capital Corporation, 407-786-5040
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142