COVER STORY-FILAMOR DORONIO, SBA LOAN SPECIALIST, SACRAMENTO CA

FILAMOR DORONIO
U.S. GOVERNMENT SMALL BUSINESS ADMINISTRATION
LOAN SPECIALIST
CITRUS HEIGHTS CALIFORNIA

Where are you from in the Philippines?
Sanchez Mira, Cagayan, Philippines in the northernmost province of Luzon.


I believe you also lived in Davao, what brought you to Davao?
Yes, I stayed there from July of 1967 through Sept 30, 1969 doing forestry-related work in San Luis, Davao Oriental and Panabo, Davao del Norte.


When did you come here in America?
I arrived in Honolulu, Hawaii, with my mother and 4 younger brothers, on Nov 23, 1969.


What do you like about America?
It’s a place where the poor ones like myself can achieve or have what the rich ones have or close to it if you put your mind into it. Unlike in our country, at least it was like this before, we the poor ones remain poor and the rich get richer.


What do you not like about America?
I can’t think of a thing that I don’t like about America that could stay with me for life. So far, I believe things have been going fair for me. Of course, I wish it could have been better but just glad with what I have now.


What do you miss about living in the Philippines?
The whole Philippines. That’s home and I am looking forward to going home for good someday

You work for SBA, what does SBA stand for?
Yes, I started working for the U.S. Small Business Administration on Sept 8, 1991. I am currently working as a “Loan Specialist” at the Loan Guaranty Processing Center (LGPC) in Citrus Heights, CA.

SBA stands for Small Business Administration

What kind of loans do you offer? How does it work?


Below are the various programs that are reviewed at the LGPC:

STANDARD 7A LOAN (Regular Term Loan)

EWCP (Export Working Capital program ) “Working capital loan. May be short-term (12 months or less) or long term up to a maximum of 3 years. It is one of two SBA loan programs that is permitted to finance a stand-by letter of credit. (Export Express is the other.)”

CAPLINES (5 VERSIONS)

Seasonal CAPLines “ Finances seasonal WC needs. May be revolving.” Contractor’s CAPLines “Finances direct costs associated with an assignable contract. May be revolving.”
Builder’s CAPLines “Finances direct costs associated with building a commercial or residential structure for sale. “
Standard Asset Based CAPLines “Revolving Line of Credit to finance short-term WC needs of the Borrower “
Small Asset Based CAPLines “Revolving Line of Credit to finance short-term WC needs of the Borrower “

ARC (America’s Recovery Capital) “a new temporary guaranteed-loan program authorized by the American Recovery and Reinvestment Act of 2009 (the Recovery Act) (P.L. 111-5, 123 Stat. 115) enacted on February 17, 2009. ARC Loans provide small businesses access to the capital needed to drive economic recovery and to retain jobs.

ARC Loans are deferred-payment loans of up to $35,000 and are available to viable, for-profit small businesses located in the United States that need short-term help to make their principal and interest payments on existing, qualifying loans. ARC Loans are interest-free to the borrower, 100% guaranteed by SBA to the lender, and have no fees associated with them”

S/RLA (Small/Rural Lender Advantage) “The U.S. Small Business Administration (SBA) is introducing a new 7(a) loan initiative designed to accommodate the unique loan processing needs of small community/rural-based lenders, many of which do not make SBA 7(a) loans or make very few SBA loans.
Small/Rural Lender Advantage (S/RLA) is part of a broader SBA initiative to promote the economic development of local communities, particularly those facing the challenges of population loss, economic dislocation, high unemployment, etc. This initiative is part of the Agency’s 7(a) loan guaranty program and is designed to encourage small community/rural lenders to partner with SBA by simplifying and streamlining the Agency’s loan application process and procedures, particularly for smaller SBA loans.”
Dealer Floor Plan Financing “Through the Dealer Floor Plan (DFP) financing pilot program, SBA offers government-guaranteed loans to finance inventory for eligible auto, recreational vehicle, boat, manufactured home and other dealerships. The DFP is a pilot program that allows dealers to borrow against retail inventory and acts as a revolving line of credit for a dealer to obtain financing for retail goods. The dealer repays the debt as the inventory is sold and can borrow against the line of credit to add new inventory. “ At the LGPC, we review bank’s application for loan guaranty by SBA. The bank or lender must have executed an SBA Form 750 (Participation Agreement) with the U.S. Small Business Administration. Anyone who wants to know more the above SBA programs may email the question to 7aquestions@sba.gov or call 877-475-2435.

You are very active member of a very prominent fraternity in the Philippines called APO do you mind telling us your activities here in America with them?
The Alpha Phi Omega International Service Fraternity is a worldwide organization and the APO Philippines that I am actively a member of has been involved with providing services to the community. While one of the Advisers of the Alumni Associations in Washington DC we “marshaled” the Philippine Independence celebrations in coordination with the Philippine Embassy. We also cleaned and painted Cardoza High School located at the suburbs of DC. A few years before that I inducted into office the officers of the APO Houston Alumni Associations. While here in Sacramento we have started fundraising drives to help out the typhoon victims in the Philippines.

How often do you go home?
Since 2005 I have been going home every year. The main reason now is to attend my father’s death anniversary who passed away on September 4, 2006.

What do you like to do in your past time?
I sometimes have a round of golf with friends. Otherwise I just stay home unless there is an APO function that I have to attend.


What kind of food you like?
Of course, being an Ilokano, the pinakbet is my favorite. I, however, learned to like the chicken adobo because, in addition to its being so tasty, it is easy to cook.


Are there any Filipino stores/places you can recommend to visit here America that you love?

I hardly know yet that many Filipino-owned establishments in Sacramento. However, the first that I kind of like it because of the politeness and friendly atmosphere is a place called “Manila Restaurant”.


What advice can you give to our kababayans who are business owners in getting a small business loan?
They should take advantage of the SBA programs available for the benefits and advantages I enumerated below. For assistance with these programs and to find SBA participating lenders Sacramento they may call the Sacramento District Office at (916) 735-1700.

Lower rate
Longer terms
Repayment-based
Higher Loan-to-Value (LTVs)

Filamor was a tremendous help in establishing the Filipino Classifieds.