I hope, by now, that phrases like "Digital Marketing", "Content Marketing", "Responsive web design", and of course, "Social Media" are becoming part of your daily marketing conversations. Internet marketing has rapidly moved into place as a key component of a successful marketing strategy for businesses both large and small.

Here are just a few of many recent stats:

• 60% of all local business searches now happen online, and 82% of the people using local search sites follow up their research with offline action. (Green Internet Group)
• 54% of those who searched for a local service in the past 90 days referred a friend to a local business or service provider they found through online search. (Green Internet Group)
• $118.4 Billion will be spent on content marketing, video marketing, and social media in 2013 (eMarketer)
• Companies with less than 10 employees allocate 42% of marketing budget to content (CMI)
• Companies with active blogs Receives 97% more leads (Content+).

If your head is spinning trying to keep up with all of this, the IL SBDC at Waubonsee has a solution. Join us on February 21 from 8:00 to 2:30 for our Fox Valley Internet Marketing Summit. You can choose any three workshops from four different tracks to move beyond the basics. In addition to the in depth information you will gain from the workshops you choose, you will hear from all presenters during the lunchtime panel.

We anticipate this event will sell out, so don't wait to register. Find out more about the workshops, presenters, and how to register at  http://foxvalleyimsummit.com/  

Commencing January 1st of this year all 7(a) loans up to and including $350,000 must begin with a pre-screening for an acceptable credit score as clarified in the SBA's SOP 50 10 5 (F). A BoeFly.com analysis of SBA data from the previous fiscal year confirmed that this new rule affects a wide swath of loans - 33,000 SBA loans approved under $350,000 totaling $3.5 billion. The SBSS score is based on a combination of consumer, business and borrower data. The SBSS score, like its consumer cousin, predicts the risk of a loan in a three-digit score. According to FICO's website its SBSS models are validated for "term loan, line of credit transactions, and commercial card obligations up to $1 million".

Key points from the SOP:

* The minimum score is currently 140, but may be adjusted from time to time by SBA.
* The minimum score is set by SBA based upon the lower end of the risk profile of the SBA portfolio.
* If the score is below the minimum the loan may only be submitted as a standard 7(a) application to the LGPC or as an SBA Express Loan via E-Tran for a 50% guaranty if the lender is an Express Lender.

The exact reasons SBA established this new policy isn't included in the SOP. But in the spirit of New Year's prognostications, we offer a few thoughts as to why the SBA has acted:

* Scores reduce bias by relying on empirically derived algorithms. Regulators have a long history of seeking solutions that quiet an underwriter's bias.
* Scores can reduce the cost of underwriting. The SBA has faced an uphill climb in getting lenders to fund small loan requests, which has been exasperated by the permanent change to $5 million 7(a) loans. With scores, lenders can reduce the cost without sacrificing diligence.
* The SBSS score works. Let's face it; the SBA is in the business of reducing the approval of bad loans. By using a score that is proven to work, they are helping avoid unnecessary losses.

For more information please see this article.  

Phil Jackson's "11 Rings" Presented by John Ruh Consulting   

This workshop is for growth oriented entrepreneurs, leaders and managers. Expect to hear and discuss the leadership principles of Phil Jackson's Book, 11 Rings. This interactive format will have you working in small groups and also provide time to discuss individual needs. Learn how to start a leadership program for yourself and/or your company that support continuous improvement.

Following the workshop there will be a small peer group session for interested participants. We will discuss advanced leadership ideas and a further understanding of how to better support your ego. Continental breakfast is included.  

Where: Park Ridge Nonprofit Center
720 Garden St., Park Ridge, IL 60068

Time: 7:30 - 10:30 a.m.
Cost: $35