Terminology

Below are definitions for terms used on Westchase Holding's website and documentation.

Mobile Banking: The "Bank-Focused Model"
Mobile Banking relates to inter-related concepts of accounting, brokerage and financial information services. These services are provided through mobile telecommunication devices. There are a variety of mobile banking business models. When mobile banking relates to traditional bank uses of low-cost delivery channels to provide banking services to its existing customers it is referred to as a “bank-focused model.” This model provides certain limited banking services vial mobile phone banking, internet banking, etc. as an extension of conventional branch-based banking. However, as technology solutions decrease the risk, lower costs and enhance the benefits to the consumer, the potential market for mobile banking will increase.
(See: http://en.wikipedia.org/wiki/Mobile_banking)
SBA: What you should know
The U.S. Small Business Administration (SBA) was formed on July 30, 1953. The SBA has delivered about 20 million loans, loan guarantees, contracts, counseling sessions and other forms of assistance to small businesses since its formation. In the Small Business Act of July 30, 1953, Congress created the Small Business Administration, whose function was to "aid, counsel, assist and protect, insofar as is possible, the interests of small business concerns." The charter also stipulated that the SBA would ensure small businesses a "fair proportion" of government contracts and sales of surplus property. The Investment Company Act of 1958 established the Small Business Investment Company (SBIC) Program, under which SBA licensed, regulated and helped provide funds for privately owned and operated venture capital investment firms. They specialized in providing long-term debt and equity investments to high-risk small businesses. Its creation was the result of a Federal Reserve study that discovered, in the simplest terms, that small businesses could not get the credit they needed to keep pace with technological advancement. See: www.sba.org
Moral Hazard: Defined Many Ways
The usage of this term is the subject of significant controversy. A Google search presents the complexity of the usage of this term. Numerous articles have addressed the issue of this controversy. This is particularly true in the context of different industries in the financial and economic sectors. To see the opinion of William Poole, President, Federal Reserve Bank of St. Louis, as an example, go to: http://www.stlouisfed.org/news/speeches/2008/02_29_08.html. There are others that view the term as a "buzz word" in the context of general informal discussions around a lunch table for example. Since this concept came into existence around the 1600s, there is considerable information on the Internet. The bottom line is that this is a term, when used the context should have relevancy.
Secondary Market
Secondary market is a generic term that covers a highly fragmented market of participants. These participants may be broker/dealers, institutional funds, private equity firms and others. Basically, a participant in the secondary market buys a package of loans (i.e. SBA loans) paying the original lender a discount on the package. For example, the package may be earning a 12% interest rate on the loans and the participant in the secondary market may pay the original lender the full amount of the principal in the loan package with a 2% premium. The lender participating in the secondary market earns 10% yield on the package with the responsibility of managing the loan. In turn, this lender can sell the package to yet another participant.
Libor
The London Interbank Offered Rate is a daily reference rate based on the interest rates which the Bank of England lends money to banks and selected participants in the secondary market. This interest rate is applies to unsecured funds borrowed from banks in the London wholesale money market and is similar United States Federal funds rate.