AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.

Bank Of America Urges Small Business Owners to Take Advantage of Bush Tax Relief Plan; Nation's #1 SBA lender announces support for plan's small business benefits.

PR Newswire

| June 18, 2003 | COPYRIGHT 2003 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

CHARLOTTE, N.C. -- CHARLOTTE, N.C., June 18 /PRNewswire/ -- Bank of America , America's No. 1 Small Business Administration (SBA) lender, announced today its support for President George W. Bush's tax relief plan as it pertains to providing tax incentives for the expansion of small businesses. The tax plan, recently passed as a broad-based economic stimulus package, provides small business owners with incentives for new-equipment investment.

Under the tax relief plan, small businesses can deduct from their taxes up to $100,000 -- up from $25,000 -- in new equipment. If they invest more than $100,000 they qualify for a 50 percent bonus depreciation that further reduces the cost of their investment.

"All financial institutions involved in lending to small business should ensure their clients are aware of and take advantage of this important incentive," said Dana Drago, Bank of America Small Business Bank President. "Expansion through the purchase of new equipment and the ability to expense capital dollars more quickly is a vitally important stimulant -- ultimately providing the small business with greater stability, growth and often job creation in the marketplace."

Bank of America is the number one SBA lender in the country with 3,917 loans granted in fiscal year 2002.

"In 2002 we doubled our SBA lending by recommitting to this segment and reaching out to the small business owners and entrepreneurs in all the communities we serve," said Drago. "This is the right thing to do ...

Related articles from newspapers, magazines, journals, and more
New Shogun Steak House opens doors in Fayetteville.(NW Journal: A Look at News...
Magazine article from: Arkansas Business Stockstill, Katie January 14, 2008 700+ words
...location. With design work by Miller Boskus Lack Architects, construction by Hunnicutt Construction Co. and financing from Arvest Bank, Pak created a $4.2 million, 11,000-SF restaurant that provides diners with a one-of-a-kind view of Fayetteville...
Arvest Bank.(FINANCIAL SERVICES)
Magazine article from: Arkansas Business January 28, 2008 700+ words
Deborah Ponder has been promoted from security specialist to vice president of retail by for Arvest Bank in Little Rock. Other promotions include Charlotte Clifton, security specialist to vice president of retail; Becky Johnson...
Mary Beth Brooks, president and CEO: Bank of Fayetteville.(20th Anniversary...
Magazine article from: Arkansas Business February 25, 2008 700+ words
...picked successor as president and CEO of the Bank of Fayetteville, by far the largest Arkansas bank to be headed by a woman. The numbers suggest...in the three years since Brooks left Arvest Bank to run BOF. That's one of the reasons she...
Commercial construction in NW Arkansas declines.(REAL ESTATE)
Magazine article from: Arkansas Business Stockstill, Katie March 10, 2008 700+ words
...fourth quarter of 2007 slowed from the third quarter, according to the Skyline Report. The report, commissioned by Arvest Bank and produced by the Center for Business & Economic Research at the University of Arkansas, said builders purchased about $41...
Nathan Harbert has joined the Broadway Street branch of Arvest Bank.(FINANCIAL...
Magazine article from: Arkansas Business April 7, 2008 700+ words
Nathan Harbert has joined the Broadway Street branch of Arvest Bank in Little Rock as commercial loan manager. [ILLUSTRATION OMITTED]
Dazzling Gala Celebrates Opening of The Americana at Brand with Music,...
Press release article from: Business Wire May 2, 2008 700+ words
...30-piece orchestra, beginning with "America" written by James Patrick Dunne for this...Band, and concluding with "God Bless America" sung by The Four Tops, The Temptations...France. A second statue from Omaha Beach, America, tops the dome of the Excelsior overlooking...
Cowdery linked back to Friends Provident again.(Friends Provident acquire...
Magazine article from: Financial Adviser Ives, Stefanie September 11, 2008 700+ words
...blamed the board's "entrenched" position on opening up the lender's books. Bradford & Bingley have since pushed through its rights issue following the withdrawal of Texas Pacific Group from the purchase of a 23 per cent stake in the bank.
Wells Fargo & Company (NYSE:WFC) Xplosive Stock on the Move!
Press release article from: M2 Presswire November 7, 2008 700+ words
...Securities Inc. is acting as global coordinator for the offering, and Goldman, Sachs & Co., Morgan Stanley, UBS Investment Bank and Wachovia Securities are joint bookrunning managers. Wells Fargo has filed a registration statement (including a prospectus...
Lehman files for Chapter 11, lists $27m loan from Arvest.(NW Journal: A Look at...
Magazine article from: Arkansas Business Sparkman, Worth February 23, 2009 700+ words
...million, including a $27.3 million unsecured loan with Arvest Bank in Rogers. Rob Brothers, president of Arvest's Rogers market...said the loan represents "four-tenths of 1 percent" of the bank's total loan portfolio. "We have a proactive evaluation on...
Office acquisition.(Real Deals: A Look at Important Real Estate Transactions)
Magazine article from: Arkansas Business Waldon, George October 20, 2008 700+ words
...year loan of $765,000 from Centennial Bank of Little Rock. The 0.57-acre development...2002 mortgage of $720,000 from Arvest Bank and an August 2007 mortgage of $220,000 held by Capital Bank of Little Rock. GAB bought the property...
For more facts and information, see all results

Source: HighBeam Research, Bank Of America Urges Small Business Owners to Take Advantage of Bush...

©2009 Gale, a part of Cengage Learning. All rights reserved.
About us | FAQs | Contact us | Privacy policy | Terms and conditions
Other Gale sites: Encyclopedia.com | HighBeam Research | Acquire Content | Books & Authors | Goliath | MovieRetriever | Smart QandA