Ruling lets widow proceed with burial by ProQuest

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                                                                                          SBA hopes increase in loan guarantees spurs lending activity
                                                                                          Last week, the U.S. Small Business Administration raised to 90 percent the federal guarantee on most SBA loans and
                                                                                          temporarily suspended a fee that is charged to banks, but passed along to borrowers. Previously, up to 85 percent of
                                                                                          loans were guaranteed.
                                                                                               Jim Kocsi, New Jersey district director for SBA, said, “We have already gotten a couple of e-mails from our lenders
                                                                                          asking to submit applications, so this is good news, and we hope it will result in the actions that we anticipate — an
                                                                                          increase in lending.” SBA lending in New Jersey and nationwide is down more than 50 percent this fiscal year, a casualty
                                                                                          of the credit crisis, problems in the SBA loan securitization market and the decline in demand for loans from small
                                                                                          businesses wary of taking risks during a recession.
                                                                                               The increase in the guarantee and the suspension of the fee is funded by $375 million included in the stimulus bill,
                                                                                          and is authorized through the end of 2010 — or as long as the funds last, which SBA has calculated could be at the end
                                                                                          of 2009, Kocsi said.
                                                                                               The 90 percent guarantee will be on loans up to $1.5 million; any portion above that amount will be subject to a
                 SBA lending is down more than 50 percent in New Jersey and nationwide.   lower guarantee. – Beth Fitzgerald




                                                          the complaint “are related primari-             IGI Laboratories Inc. sold $6               the previous six months, the com-                 for smaller, age-restricted units
State files lawsuit over                                  ly to the startup of the FiOS busi-       million in convertible preferred                  pany had so far maintained its pay-               have been unable to sell their hous-
FiOS service claims                                       ness nearly two years ago in New          stock and other securities to invest-             out to shareholders. But Hersh also               es, or are holding onto them as their
                                                          Jersey, and have been largely             ment funds affiliated with Signet                 said he was considering other                     grown children and families move
State Attorney General Anne Mil-                          addressed.” – João-Pierre S. Ruth                                   .,
                                                                                                    Healthcare Partners G.P according                 options for the first-quarter divi-               back in, the group said.
gram and Division of Consumer                                                                       to an announcement made last                      dend, including a cut or paying up                      “People in real estate now
Affairs director David Szuchman                                                                     week. IGI develops, manufactures                  to 90 percent of the dividend in                  believe there is already enough age-
last week announced the filing of a
                                                          Drug Fair selling 32                      and packages products for pharma-                 stock, rather than cash.                          restricted housing built or in the
lawsuit against Verizon New Jer-                          stores to Walgreens                       ceutical and cosmetic companies.                        REITs have been hit hard by the             pipeline to handle the lower
sey Inc. for not meeting certain                                                                          As part of the deal, Joyce                  recession — which has caused prop-                demand for up to 20 years,” Sarlo
service and marketing claims. The                         Pharmacy and general merchandise          Erony, a managing director of                     erty values to decline — as well as               said in a statement. – Evelyn Lee
four-count complaint alleges Ver-                         chain Drug Fair, based in the Som-        Signet Healthcare Partners, joined                the credit crunch, which has con-
izon violated the Consumer Fraud                          erset section of Franklin, last week      IGI’s board of directors. Another                 tributed to falling stock prices. Since
Act and advertising regulations                           said Walgreen Co., of Deerfield, Ill.,    Signet managing director also is                  last year, nearly 40 publicly traded
                                                                                                                                                                                                        Ruling lets widow
through misrepresentation and                             has agreed to buy 32 of its stores in     expected to join the board.                       REITs have suspended, cut or paid at              proceed with burial
omissions of facts.                                       New Jersey for an undisclosed                   The financing “will improve                 least part of their dividend in com-
     According to court docu-                             amount. Drug Fair made the                our working capital base” and allow               pany stock, according to a January                A New Jersey widow whose hus-
ments, the state claims deception                         announcement as part of its Chap-         the company to regain its list
								
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