| Debunking SBA Loan Myths Posted: 16 May 2011 02:00 PM PDT 
The Wall Street Journal has pulled together a few myths people believe about SBA loans, and the real truth behind them. The SBA only lends to people in dire need. It’s common to hear the SBA described as a “lender of last resort.” In some ways, there’s good reason for this: The agency’s Office of Disaster Assistance speeds funds to borrowers in regions hammered by natural disasters, and it funds Community Development Financial Institutions that make loans to borrowers with higher-risk profiles. But the SBA’s bread and butter is facilitating loans to viable businesses. “Do businesses need to be distressed to participate in our programs? The answer is no,” says Steve Smits, associate administrator for the agency’s Office of Capital Access. In 2008, during the height of the financial crisis, the SBA facilitated loans to nearly 70,000 businesses—and Mr. Smits says most of them would normally have been eligible for conventional bank loans.
The lenders face no risk with SBA loans. Borrowers often assume banks aren’t taking any risks with SBA loans and don’t understand why lenders would reject them. “Folks believe the funding for loans comes from the government, but it doesn’t,” says Erik Back, vice president at 1st Source Corp., a lender in South Bend, Ind. Banks issue SBA loans according to government guidelines and receive some protection against losses if the borrower defaults. But “the guarantees are never 100%,” Mr. Back says.
Receiving the loan takes months. In reality, the programs typically involve a “six-week process, assuming the borrower is prepared on the front end,” says Greg Wineland, senior vice president of lending at Hope Enterprise Corp. in Jackson, Miss.
Photo by Dustin Moore 
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| A Different Type Of Milk Bottle Posted: 16 May 2011 01:00 PM PDT 
How long does it take the plastic jug in your fridge to break down? Green Bottle has produced an alternative option which can be recycled or added to a compost. Best of all, it only takes approximately 5 weeks to decompose, reports The Random Forest. Martin Myerscough realized that he was sitting on an immense idea when his son brought a papier mache balloon from school. He stated that the price and the speed of production for making these paper bottles is comparable to plastic bottles. Green Bottle was funded with £4.5 million from private investors and advertising agency Mother, and is attempting to raise £1 million more from new investors. Green Bottle will attempt to produce a billion bottles in three years. Currently, the company has a deal to supply the milk bottle, starting with 15 Asda stores, which is just the starting point before their nationwide release in supermarket chains later on in the year. According to the managing director of Green Bottle, Andy Brent, he was pleased to join the starting phase of the company since "it was probably the best consumer idea I've ever seen in my career."
Screenshot from Green Bottle 
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| Putting A Stop To Snoring Posted: 16 May 2011 12:00 PM PDT  According to This Is Total Essex, a local inventor has taken on the fight against snoring and won.
Mr James: “I used to be very overweight and snored terribly. “I tried everything I could think of, eventually having surgery on my palate, then having my adenoids removed, but it didn’t make a difference.” For seven years he worked on a design for a device that fits inside the nose to expand the nostrils, and help the wearer to breathe. But it wasn’t until his daughter Phillipa, 28, began to work on taking the idea to market that it really took off. After launching their creation at trade fairs and selling it themselves, Phillipa secured a meeting with Waitrose, which agreed to sell it in nearly 40 stores – including Billericay – before a wider roll-out. She said: “At the moment, it’s a bit of a cottage industry, working from the kitchen table. “It’s very tiring doing everything yourself, but as we grow, hopefully we’ll get more staff to help.”
Photo by Breathing Relief 
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| Mom’s Business Brings Sales For Many Mompreneurs Posted: 16 May 2011 11:00 AM PDT 
Kori Isabella-Ross had a shop-til-you-drop attitude toward shopping until she lost her job. She found herself in a tight spot with no money and three very active boys. So, Kori put that shopping attitude to work. She created a business, Miss Bella’s Boutique, that not only helped eliminate her need for work but helps put moms within her own community to work by selling their handmade goods, reports The Record Searchlight. Since my real passion is in fashion and all things related, opening a boutique of my own would allow me to do what I love. From there, I began thinking of ways to help others who were in my predicament and had three ideas: shop, share and save. We offer new and used quality baby products at a great price, and support our local moms who sell their handmade products in our store. What is your educational and career background? My parents have always owned their own business. I grew up learning to work hard for what you want. I opened my own preschool in 1998 till 2005 when I moved to Redding. I have some college, but mostly my work ethic comes from my parents.
Image from Miss Bella’s Boutique 
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| Make Any Bicycle Electric Posted: 16 May 2011 10:00 AM PDT 
Whitefish Pilot has the story on a man who created a unique device that can make any mountain bike into an electric bicycle. The device is small enough to carry, and it can be put on and taken off while still on the trail. Theoretically, a cyclist could ride up a trail powered by the electric motor, then remove the batteries and motor, put them in a backpack and descend as on a regular bike. Carolin has the prototype mounted to his full-suspension downhill bike and says it adds about 10 pounds to the frame when in use. The kit uses a model-airplane motor that attaches to the front fork and two battery packs strapped to the bike's frame. The right-hand handle bar grip has the throttle. Carolin says his invention's power stands out from other electric options on the market. "This has more torque and goes at a pretty high speed," he noted. The motor will power a bike up 45-degree hills with ease, Carolin says, and will run for about 30 miles between charges. When a rider pedals with the front-wheel motor, "it's like a mountain goat with two-wheel drive."
Photo by TRAILSOURCE.COM 
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| Personal Size Submarine Posted: 16 May 2011 09:00 AM PDT 
Most people think of submarines as they are for military use. However, Hugh Fulton has brought them down to a personal size with his creation, the Q Sub, reports 3news.co.nz. The Q Sub is named after an inventor – not Q from the James Bond movies, but Uncle Q – that’s what Mr Fulton’s nephews called him because they couldn’t say ‘Hugh’. “It’s like a car,” he says. “You look out there, you see where you are going and you can see within a metre of the floor.” The viewing windows are part of what sets Mr Fulton’s design apart from the dozens of other personal submarines on the market worldwide. The Q Sub can also plane on the surface at a speed of almost 40km/h and dive to a depth of more than 120m. The Q Sub will undergo sea trials in around two months. From there, the designers hope to take it offshore and put it on show to the super rich at boat shows in Monaco, Dubai and Miami. Costing more than $1.2 million, it will be out of the price range of most.
Photo by Pascal 
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