understand, it is complex, but there are a lot of tax incentives and investment in business that you should take aware -- advantage of. >> we have two questions in the back. just to be mindful for everyone's time, we will go for about five more minutes. >> my name is david. i am an internet or entrepreneurs. in general, to the lenders, what type of vanity do you traditionally see approach you for loans, an llc, corp., and who is liable, for whose borrowing the money? >> as a micro lender, we expect the principles, the corporate form, to provide guarantees.

>> personal guarantees. >> the same. 20% ownership in the company. [inaudible] >> [inaudible] >> i heard something about sba guaranteed loans. maybe i missed something. does that have to do with the sba guaranteeing the entity? >> the question on the sba guaranteeing a entity as the order of the business, whether it is a corporation or partnership, for any small business lending, you should expect to be guaranteeing that long personally. as a small-business owner, from a lender's point of view, we

want to see that you are as invested in the business as you are asking the bank to be. the idea that non recourse loans, the way you describe it, loans that you get without having yourself personally liable is not the way it works. you should assume you will guarantee the loan regardless of the structure of your business. the good news, though, for businesses like you are describing, internet business, is that the capital requirements for that type of business is generally small. you are able to get yourself further along and share in revenues with a smaller amount of credit need. that is where we see a lot of businesses and personal service or internet business get started, and generate revenues and be able to show growth without needing any capital,

like a brick and mortar business might. >> my name is terry said. i have a retail business in san francisco for 22 years. i have a 5 04 -- 504 loan. it took me three years to get. we need more capital. i tried to get a line of credit from wells capital. i was decline. where does someone like myself go? i have a loan, i need additional funding. >> did you try through the sba? >> i already have an sba loan. i went to wells fargo for a line of credit and they would not give me one. >> i can speak to you about it. when we look at funds that are needed, the biggest thing we look at our cash flow.

i can address that with you. unless there is an issue, at that point -- [inaudible] >> let's talk, ok. >> i have a couple of more questions. i know that the panelists have agreed to stay after for those who have specific questions. i do have one question for wells fargo. what are the typical rules for applying for sba loan of less than $50,000? how much money do we need to have in your bank to apply for a loan? >> i am on the smaller side of the bank. i am a transaction guy. i do not technically require one to have an account to do a loan

with. what i look for, i generally start at 100,000 and up. when it is a requirement of 50,000 or less, i tend to call of the micro guys to help me out. that is right in their box. for us, the capacity for us to do the smaller side is not there as much as it is for them. on getting a loan through my side of the bank, i do not require an account to do that. we would like to have it, but i do not require it. >> last question for the opportunity fund and a critic representative. are you a cdfi?

is san francisco and s.p.a. in support of cdfi's being established in san francisco? >> yes, we are. we were founded in 1999 with a small business loan. that is how we started our tenderloin office. >> opportunity fund is a certified cdfi, so we are providing a benefit to low and moderate-income communities. he is the city establishing support for new cdfi's? >> mark wanted to address that, in support of cdfi's in the city. >> we have a wealth of partners in the city.

s.p.a. is just now rolling out a program for r -- will be the case by the summer. let me get one last point and on the question about relationships to lenders. the question was, do have to have an account with a bank in order to get a loan? may answer is no, but the real answer to it is certainly want to do that. one of the things we see as an important thing for you, as a small-business person to establish a relationship with a lender on a variety of levels before you look for funding. part of that is opening an account with them, letting a lender know about your business, understand your business, talk to them as you are growing your business. when the economy is strong, all lenders are shopping for transactions.

in times are tough on credit, you want to rely on those deeper liberation ships with your lender. you want to develop a relationship with a lender. it is the case where you want to open up an account, while to have another bank services that you want to have a relationship with your lender with it because when you go to them for any loan requests, you want them to know about your business and feel like they are a partner of yours, not just that you are shopping them. if you are shopping, you are just looking for the best deal from them, rather than a long- term relationship. >> i want to thank everyone for coming. hopefully, you have all signed up for our updates. we are going to be hosting these on a regular basis. the next two coming up will focus on becoming a government contractor, how your small business can partner with the government.

the next one will also be on how to grain your business, with tax -- green your business, tax credits available with that. for non-profit, charitable organizations, we have a workshop coming up. that is helpful for those of you who are looking to access the committee on a durable basis. >> also, on behalf of leader pelosi, i want to thank our panel and her staff. we are tenants in this building. i apologize for the security situation that happened upstairs. if you have concerns about it, please come and see me. i would like to convey those to the landlord here so that it does not happen again.

thank you.

>> good morning, everyone. welcome to city hall. the great city hall of san francisco. [applause] we have been busy this morning but it has been a pleasure all morning to greet so many people love the city. i cannot think of another 10 people who love this city. i want to thank each and everyone of you because your volunteering -- i know that word. volunteer for one of the greatest cities in the world. what you will be doing, sacrifices in time, interactions with you, with various commissioners, it will be a wonderful experience, one that

many of you will continue to do, and some of you about to do for the first time. i see former supervisor bevan dufty is here. david from the department of the barnett. emily. commissioner shorter, thank you for being here. bruce, thank you for being here. tom, roberta from the mta, thank you for being here. please forgive me, i am still young. [laughter] i have so many others serving on different commissions already. thank you. we have city departments that are here. i know we have the department of the environment, film commission, commission on the status of women, health status board. we also have -- department of the environment, mta, and of

course, the asian art museum. there are six commissions that will received today here 10 new commissioners. i want to thank you for your service. that may go through some of your names. good to see you again, jim. for the asian art museum, which is responsible for determining policy for the administration of our asian art museum, the city's duel that holds one of the most comprehensive collections of asian art in the western world. jim, you will be joining 26 commissioners who all share a fellowship based on the conviction that the asian art museum is unique, the best of its kind, and a tremendous asset to our city. your expertise will be a

substantial supplement to the work of your fellow commissioners, and notably, your background in finance and work cochairing the campaign for the san francisco ballet will be an extremely welcome asset. like all the other commissioners, the import work done by the 27 commissioners, the strength of the museum greatly benefit our whole city. it enhances our quality of life, a reputation as a cultural center, and also -- an important point -- city appealed that brings in visitors and millions of dollars a year. thank you for your work and for what you will be doing with the commission. thank you for being here. [applause] on the commission of the status -- on the status of women, what an important commission. san francisco is the birthplace of the united nations and the

first and still only city that has enacted a local ordinance reflecting the principles of the united nations convention on the elimination of all forms of discrimination against women. i am confident my appointment to this body will enhance and support the continued efforts of the department and commission to ensure equitable " treatment of women, as well as to enhance women pause health and safety throughout san francisco. felicialicia gamez. a new addition to the city family. commissioner brown has already has professional ethics. that is bar none, impressive. she has founded her own firm, serves on the board of the city's lawyers association, and above all else, has proven herself to be a leader, utilizing some of her best

attributes, analyzing, collaborating, and offering solutions. as a latina attorney who had dedicated a significant amount of her time working on issues that impact the immigrant, latino, and lgbt community, i am confident commissioner gamez will add a unique and needed perspective to the san francisco commission on the status of women. she has set herself, change starts with stronger individuals. with that chsaid, i generally look forward to seeing the results of your work on the commission. thank you for being here. [applause] nancy kirschner rodriguez. thank you for serving. with over 25 years of experience in national, state, and local policies, and as a former

director of governmental affairs in my office, and the is uniquely qualified to expand the work of the commission on the status of women. she currently shares her expertise by serving on a variety of bodies from the city, including the board of directors jewish community council center, and is a driving force behind the work being done by the san francisco collaborative against human trafficking. her experience with government on all levels and your desire to better the lives of all of those we certification leaves me confident that and to make an incredible mark on this community and will move forward policies that create many new and continued opportunities for women of san francisco and beyond. thank you, nancy, for your service. [applause] stephanie simmons. thank you for reupping, as they

say. appointed to the commission four months ago, it is my pleasure to reappoint commissioner simmonds to her post. stephanie is someone who has great ties to our city. whether it is to the business community, african-american community, or our community of women, she is a strong advocate for all. we look forward to stephanie's continued service to the city in her capacity as a commissioner. thank you for your service. [applause] the commission on the environment. what a commission that keeps me busy, but busy with positive things because it is all about our future, what we are leaving behind as the city continues to pursue our goal of zero waste by 2020, we can boast we are leading the nation with a 77% signed diversion rate, thanks to

the department of the environment. innovative policies such as this, the city's energy efficiency policy, green jobs, and many more thank you for being and reupping yourself on the commission and the environment. while who describes itself as a serial entrepreneur and start-up executive. his work spans from his current job as chief operating officer of earth aid ink -- inc., a proprietary universal platform that gets households to track their water usage to advising many prominent, elected officials across the country to energy and policy technology. he's a talented individual, and i'm pleased to be one of those elected officials raul has chosen to advise. i look forward to more advice in

the future and i'm pleased to appoint raul today. thank you, raul. ruth ger vanous, -- gervanis, thank you for reupping. ruth brings years of experience teaching in the public school system, wogging as an environmental consultant volunteer and ruth has also proven she is a wealth of knowledge on all things related to her environment. she's focused much of her attention on maximizing sustainability in the redevelopment of treasure, efforts that may just come to fruition someday soon. she's focused much of her attention on maximizing sustainability in all of these represent development projects but i'm sure how much she will advance our innovative policies and i continue to look forward to seeing this come out of the commission in the very near future.

thank you, commissioner. [applause] our film commission, thank you, direct robertson for being here today and leadership that you have been providing. i'm seeing more and more films and been on the set of a last one was a very, especially thing because i got a picture can nicole kidman. how many of you did? [laughter] but another reup, a good friend of mine, one has led not only labor but a great community and great labor leader, bob morales. thank you, bob, for reupping on the film commission. bob was appointed in 1996 by my good friend willie brown, making him the longest serving film commissioner i know. tpwhorn el salvador, central america, he came to the u.s. in 1958. after completing his education in san francisco, he joined the united states army where he

served for two years. commissioner maradis is president of the steam electrics, hispanic caucus and california teamsters hispanic caucus and brings a valuable labor voice to this commission. rightly so. bob's work has been honored by various groups including the united way of california, martin luther king society of san francisco, the united states congress and state of california. his talents are great and we're happy they reside here on our film commission. thank you, bob, for being here and reupping. don, thank you very much for reserving on this film commission. you have been here since 2000 when you were appointed by former mayor willie brown. why is there such a connection? don has previously served as a board member of the museum of the city and county where he took part in establishing a world class history museum.

is a tireless advocate for gay rights and strong supporter of the film industry here in san francisco. don, it's a pleasure, you're advising me, doing great work and i want to welcome you again to the film commission. thank you very much. [applause] our health services board will continue to be a very, very important board for our city. karen breslin, thank you, and congratulations for being elected to that board. pulling from her 26 years of experience working for the city, karen was elected to the health service board in 2001, was re-elected by members in 2006 and this year ran uncontested. commissioner breslin is a former president of this board and is currently serving as vice president. she's also served as chair of several health service board

committees, including the budget and finance committee and rates and benefits committee. karen, thank you for your service and i will look forward to your continued work with the board as we pursue structural changes to our city's benefit programs. thank you very much and congratulations, again, for being elected and appointed. finally one of the most difficult commission board for the city, our m.t.a. board of directors, and i saw nat ford here, good to see you, and i number of commissioners. jerry, you're rejoining here and you're reupping and talk about the military you need to reup on for m.t.a. but have you my faith and you have my confidence, jerry, in bringing forward to this board a

wonderful perspective, one i think you have held and we talked about had many, many discussions about. first and foremost i want to thank the board of supervisors for their support for jerry's reaappointment. jerry was unanimously approved yesterday, making it possible to take over today. that's a great accomplishment, sir. a native of san francisco, lifelong user of our transit system and currently the m.t.a. board's vice chair, jerry's being reappointed for many reasons. but at the top of this list is his willingness to step up to the plate and work through some very thorny issues and adequately addressing neighborhood and community concerns. jerry's worked to address community concerns related to some of the lines addressed in the t.e.p., transportation improvement project, is a perfect example of the valuable service that director lee provides on the m.t.a. board.

jerry's experience with u.p.s. as well as his work with former mayor agnos, including helping establish a newly formed department of traffic as well as serving as chairman of the mayor's taxi demitty has been proven to be a valuable addition to this board. today at a time when the m.t.a. is dealing with very substantial issues, jerry's willingness to ask tough questions and his inquisitive nature encourages the board and m.t.a. staff to create solutions outside of the box. thank you, jerry, for your hard work. i look forward to your continued leadership on this board. thank you very much. [applause] with this, i will ask all of our appointees to stand up and take the oath of office together. and if you can repeat after me and after each pause, you will state your name in order and also at the end, state your commission in order when it gets to that phrase.

please raise your right hand. i i, do solemnly affirm that i will support and defend the constitution of the united states and the constitution of the state of california against all enemies foreign and domestic , that i will bear truth faith and allegiance to the constitution of the united states and the constitution to the state of california, that i take this obligation freely without any mental reservation

or purpose of evasion, and i will well and faithfully discharge the duties upon which i'm about to enter, and during such time as i hold the office of -- for the city and county of san francisco. congratulations. [applause]

i present to you the new class of commissioners!