Short Term Loans Available from Small Business Administration

Short Term Loans Available from Small Business Administration
On June 15, the Small Business Administration (SBA) will open up a new temporary loan program. America’s Recovery Capital (ARC) loans of up to $35,000 can be used to make payments of principal and interest in full or in part, on one or more existing qualifying small business loans for up to six months. According to the SBA, “These loans allow borrowers to redirect cash flow from making loan payments to investing in their businesses, to help sustain the business and retain jobs. For example, making loan payments on existing loans with proceeds from an ARC loan can allow a business to focus more funds on core operations, such as buying inventory or making payroll.”

In order to qualify, the small business must be an established business, have financial statements demonstrating it was profitable in one of the past three years, and be able to project sufficient cash flow to meet current and future loan payments over a two-year period from loan approval. ARC loans are interest-free to the borrower, carry a 100 percent guaranty from the SBA to the lender and require no fees paid to SBA. Loan proceeds are provided over a six-month period, and repayment of the ARC loan principal is deferred for 12 months after the last disbursement of the proceeds. Repayment can extend up to five years.

The first step is to contact your current lender as ARC loans are made by commercial lenders who are SBA program participants. Non-SBA lenders can participate by working with their nearest SBA district office. For more information, visit www.sba.gov/recovery/arcloanprogram/index.html.

Free Webinar: Optimizing Automation for Finishing Iron and Steel Castings
MODERN CASTING magazine is sponsoring a FREE 30-min. webinar focused on advancements in the cleaning and finishing of ferrous castings. Scheduled for June 24 at 11 am and 3 pm EST, this webinar will be presented by Maus USA, Inc., Virginia Beach, Virginia., The presentation will focus on the developing trends in cleaning and finishing toward automated production systems that allow external grinding, internal grinding, machining operations, spheroidal measurement, part articulation and cycle control in a single work cell or other configuration in-plant. Iron and steel castings increasingly need to be finished and machined in a single set-up to reduce material handling requirements and associated cost factors.

To register for the 11 am EST webinar, click here. To register for the 3 pm EST webinar, click here.

Navistar Hosts OSHA Alliance Seminar
Navistar’s Waukesha Foundry, Waukesha, Wis., recently hosted an Introduction to the Foundry seminar for 20 Region V OSHA compliance officers. The event was organized by the AFS/OSHA Alliance.

The seminar was conducted by the Cast Metals Institute (CMI) as a shortened version of its Introduction to Metalcasting seminar and taught by Mark Nagel, CMI director of education, and Scott Lammers, AFS technical director. The seminar was augmented by AFS Safety and Health Committee members Tom Slavin, Navistar International, Warrenville, Ill., Bob Scholz, RMT Inc., Brookfield, Wis., Jim Brunson, Navistar Waukesha Foundry, Waukesha, Wis., and Fred Kohloff, AFS director of environmental, health and safety, Schaumburg, Ill.

All involved described the result of Waukesha opening its doors to the training as a success. The inspectors called it one of the best training courses they had ever attended and came away with a new and greater appreciation for metalcasting processes, equipment and safety programs in metalcasting operations.

Based on the success of the training program at Waukesha, OSHA has asked that it be repeated
in other regions. If you are interested in hosting this training at your facility, contact Kohloff at 800/537-4237 x 230 or fhk@afsinc.org.

2009 Wage Survey Available, Executive Salary Survey to be Released Late Summer
AFS announces the release of the 2009 Wage and Benefit Survey. The survey of metalcasting facilities in the U.S. and Canada reports on wage rates for 28 hourly job classifications, and covers 29 labor market areas in the U.S. and Canada . National reports are given based on the type of metal poured: iron, steel, nonferrous or multi-metal. Breakdowns are given by size (number of employees) and by union or union-free. Results for wages are reported in cents per hour. The report is available in both .pdf and print formats.

AFS also will soon be compiling data for the 2009 Executive Salary Survey. To ensure confidentiality of the report, Bansley & Kiener, an outsourced auditing firm, will be compiling the data for 26 industry-specific executive level positions. Results of this survey will be available late summer. For more information, contact Lynn Smith, manager of human resources and related services, at 800/534-4237 x 223 or lsmith@afsinc.org.

Find Materials, Equipment and Services Via Online Buyer's Guide
MODERN CASTING magazine has put the compendium of information available in its annual Buyer's Guide up on the internet, so you can find the materials, equipment and services you need to improve your metalcasting business without leaving your office.

The new guide, available at buyersguide.moderncasting.com , includes all of the suppliers in each of the product categories presented in the print edition of the resource. But with this interactive application, you can search through the data to find the products you need by directly selecting a product category, entering a suppliers' name or location, or choosing from a list of supplier names.

The online guide, which is constantly kept up to date by the suppliers themselves, also can be accessed through the AFS website (www.afsinc.org) or MODERN CASTING site (www.moderncasting.com). Check out the new Buyer's Guide today, and go shopping for a better business.

Webinar to Discuss Confined Spaces in Your Facility
AFS will be producing a health and safety webinar on confined spaces June 11 at 11 am EST. The webinar is intended to define what standards apply, hazards and possible solutions associated with confined spaces.

To register for this webinar, click here or contact Dave Krugman, AFS PR and marketing coordinator, at 800/537-4237 x 286 or dkrugman@afsinc.org.

CMI Offers Ductile Iron Metallurgy Internet Course
CMI will be offering a Ductile Iron Metallurgy internet course Aug. 3-30. In this course students will learn basic ductile iron chemistry and processing, including the concepts of chemistry control, properties of ductile iron, common metallurgical defects, various treatment types and post inoculation.

Information is presented through video lectures, reading assignments and participation in discussion boards. For more information, or to attend this course, contact AFS customer service at 800/537-4237 or click here to register.

Looking for more information on ductile iron metallurgy? Visit the AFS Library today for more information on this and other metalcasting related topics.