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. >> welcome to art in store fronts. i am director of postal affairs

for the san francisco art commission. it is my pleasure to welcome you and the artists, the community partners, the vendors, and folks in san francisco for this launch. [applause] i want to start by thanking -- we had a long list because this has been a great production, so you have to bear with me. we want to start by thanking the john's brothers piano company -- the johns brothers piano company. we want to thank the d.c. piano company from berkeley for providing the piano for tonight's launch. [applause] last year, we got a fabulous grant to help make a really significant investment throughout the year, and we launched what is called the artery project. it is a pun for all the

different ways that market street works for us. it is a major summer program for the city, and at the same time, we have been using the arts to reinvigorate and reconnect people with this fabulous commercial and civic thoroughfare, so the artery project launched this year. today's are in store fronts is part of that initiative -- art in storefronts is part of that initiative. i hope you all picked up one of these fabulous programs that were printed up today because it gives you a map. it also gives you coupons and identifies all of the artists participating in the artery project and the art in store front program, and i want to thank "the examiner" for

printing this up and distributing it to the entire city today. [applause] we have some great partners in the artery project. we are standing here in front of the new home of the home for the arts -- the home of the arts gallery. plaza -- [applause] they have been fabulous partners with us throughout the whole artery project. tonight, there's a recession and an opening, and we encourage you to visit and sit down with them -- there's a recession and an opening. down at the plaza, you can see two magnificent sculptures. [applause] while you dance with the space cowboy dj collective. [applause]

so there is an incentive to work our way down market street today. some of the local merchants are staying open late for this lot and programming in there were, or they are offering coupons, which you will find in your program today. this year, rickshaw is a san francisco company creating art in storefronts bags. [applause] one of our artists whose work is directly across over there. these bags are available for sale for $100, but we have 10 to raffle off today. sari, one of these today. [laughter]

-- sorry, one of these today. [laughter] we are sliding back on our promises today. i know you can go online and in some additional bags -- win some additional bags. you have to take a photograph of an art in storefront side, uploaded to twitter or flickr or facebook and enter to get one of these custom bags. somebody had a clipboard around here. where is the clipboard? ok, there is the clipboard over there. it is going to be circulating around, and mayor ed lee is going to pick the first winner of this bag.

before i introduce our distinguished elected official, we have a number of bank used -- thank-yous we want to share with you. revitalizing the neighborhood requires the efforts of a whole big village. so we have got david adderfield, byron yee, mark casagrande, and i would like to ask you all to join me in thanking them for their support of art in storefronts. [applause] today, we have to thank as well the artists who were selected to be part of this program.

i want to read their names and ask you all to collectively acknowledge them. [reading names] [applause] let's give them all a big round of applause. [applause] you know, these are the artists that competed for this honor and distinction out of a pool of about 150 applicants. it really gives you a sense of

how many artists are active in san francisco, how many artists want to be part of bringing their art to the public. so it is a great distinction and honor for them to have been selected. thank you so much for everything that you did and your contribution to make art in storefronts a success. if i come back to the microphone, i want to be able to introduce -- we have two distinguished speakers. do you have an order of preference? [laughter] i'm going to introduce first our president of the board of supervisors and a great supporter of the arts, david chiu. [applause] supervisor chiu: good evening, everyone. who is excited that it is friday? [applause] are there any artists here tonight?

all right. is there anyone representing [inaudible] this is an amazing announcement. a number of years ago, -- did i hear hunters point is here? the host city is here. i want to thank you for representing everything that is great about san francisco. and number of years ago, mayor lee's predecessor and i had a conversation about what we need to do about two issues facing san francisco. one of them was the fact that we have way too many vacant storefronts all over the city, and the other was the fact that we have incredible artists who had not been able to find spaces to showcase their art. like peanut butter meeting chocolate, we are bringing our store fronts, our incredible art together, and i'm happy to be part of the celebration of what is wonderful about san francisco. i am also very excited about the

fact that we're doing this here in the street corner. mayor lee and i stood on that street corner helping to announce new legislation that we hope is going to help revitalize these neighborhoods. the neighborhood that we are in now, the central market area, the tenderloin, has been blighted for decades. we have had way too much crime, way too much unemployment, way too many vacant storefronts. for this program to help turn this neighborhood around, again, showcase the best, the brightest, the most colorful designs, the most creative of who we are as san franciscans -- i am just happy to be part of this, so give yourselves a hand, and thank goodness it is friday. [applause] >> thank you, president chiu. the san francisco arts commission has 15 commissioners appointed by the mayor every month -- appointed by the mayor.

every week, they volunteer their time to help shape the cultural policy of the city of san francisco. tonight, we have the president of the san francisco arts commission, p.j. johnson. we also have jerry young, one of our commissioners. [applause] do we have any other commissioners? i'm not seeing you. they all work very hard on the citizens of san francisco, thank you, commissioners, for being here and for everything that you do. now, the final thank you before introducing the grandmaster. we have been fiber non-profit arts community -- we have a vibrant non-profit arts community that is part of this project, the central market community benefit district.

those beautiful sculptures are brought to you by black rock arts foundation and burning man. [applause] we have got to thank a lot of our civic partners in government. supervisor kim's office. the mayor's office on disability. the mayor's office of neighborhood services, the mayor's office of economic and workforce development, which is really a key partner for us in this. let's give them a warm round of applause. [applause] the department of public works. the public utilities commission. last but not least, i want to thank the staff of the arts commission and the leadership that brought this even to gather -- this event together.

let's give them a warm round of applause. [applause] now, it is my pleasure to introduce to you a person who is really one of the founders of the idea that market street could be revitalized by reintroducing the arts in the non-profit arts community to this area. he has been a champion before he was mayor, of the idea of creating an arts district along market street. it really is my pleasure to introduce to you the great mayor of san francisco, edwin lee. [applause] mayor lee: everybody, thank you very much for coming out to the artery of arteries in san

francisco. i want to also acknowledge the wonderful work that the arts foundation is doing. they were the first agency that we were able to fund back when i was city administrator, when we were thinking, how could we start changing the street? we had that old theater that was and did already, but it still look like a porn theater. we were all reminded of how vibrant arts was. we started looking at the site, and they were looking at it, and we finally were able to give a little grant called the community challenge grant, and we emphasize the word challenge. the gray arts foundation took up that challenge, and now they are expanding, and now we have fantastic murals open tonight, and they were the first, but they led the effort after the arts commission and grants of

the arts went to work along with the mayor's office. i know north dakota is there, and she is working very hard because none of this happen without the partnership of so many people coming together, and all of you have come together tonight not just to help out. you are going to have fun tonight with the three different receptions going on and the parties that are going to go on here, and there will be many more for all of us to be here safely and be here extending all the population to come down here and have great fun, enjoy the cultural arts, as well as the people in the tenderloin, the mid-market, south of market , everyplace else. people want to come gather here. we are doing all the other things necessary to build partnerships. that is what the arts commission has been able to do. i want to thank luis and his wonderful commission for leadership on this effort because that partnership has brought out some $10,000 from

blick art materials to contribute to the united nations plaza open air arts festival. thank you. where are you? [applause] in addition, san francisco beautiful with its $3,000 contribution. thank you. then, of course, the black rock arts foundation. thank you very much, bernie mahon, and all of you for coming together, helping us out. that is going to give a lot more incentive for other agencies to come and start contributing as well. -- thank you very much, bernie mahon -- burning man. i want to thank the artists that have come together here to recognize them and for their contribution. if you give with art, it will be sustained with art. you are going to find a lot more people discovering all the

beauty of this neighborhood, and is led by all of you here tonight. thank you for being here. [applause] we got off the grid trucks. two trucks here tonight. we have sculptures. we have john brothers piano company. thank you for this, coming out here. is david around here? come on, show up. i also want to give a shout up to our san francisco police department. [applause] as we transition, people will -- will be safer and safer as they know that our officers are around here. their presence allows the natural transition for everything to occur. it is still struggling for a lot of people to see the transition, but it is real. it is coming. we are making all the right decisions, but we know you are here because you have faith and hope.

thank you very much. [applause] >> let's see who is extremely lucky. and the winner of the prestigious specially designed bag -- well, they have a name. i would rather read the name, right? nell lomac. do you have to be here to win? >> yes. >> they better come out.

all right, you have to be here. you have to come right up front. here is a real winner. a number, no name. 7852368. up in center. one more time. [laughter] 785 -- all right. 2368. come on out here. [applause] this is -- [inaudible] >> verified winner. >> congratulations. [applause] now we are going to go around the corner and unveil the mural.

do not forget the after party at the gray area luggage store and hospitality house. all right.