New program will package financing and business development services to startups
Camarillo, Calif. (June 26, 2012) – The Economic Development Collaborative-Ventura County’s SBDC announces a partnership with GPF Real Estate & Financing Corporation, a Beverly Hills-based subsidiary of Global Private Funding, Inc. (Global), to provide access to capital for business owners through no cost advising, a microloan startup fund and access to the business-launching Global Center for Excellence Award.
Global REFCo will help Small Business Development Center clients market their businesses to venture capitalists, private investors, underwriters and revenue financiers through free workshops and one-on-one assistance.
“It’s not just about helping businesses secure financing,” said SBDC director Ray Bowman. “It’s also about showing business owners how to become better operators so that the financing is optimized and leads to growth.”
The microloan fund will be established late 2012 to provide funding of up to $10,000 for startup businesses unable to obtain traditional bank funding. The amount is based on a 2006 Wells Fargo/Gallup Small Business Index study that found small business owners spent an average of $10,000 to launch a business.
“The Global-SBDC microloan fund is vital to unshackling startups,” noted Joshua Loeb, associate vice president, Lending & Venture Investment at Global.
The partnership also enables up to five SBDC companies annually to be nominated for the Global Center for Excellence Award honoring innovation and technology. Award recipients receive $100,000 to further develop technology, up to $250,000 in consulting, marketing and product placement development services through Global and a one-year management internship.
Global Private Funding is a private equity lender that specializes in financial packaging and business incubation. Global finances collaboratively with its partners and connects investors directly with the investment. The company’s collective management experience of more than 100 years ensures delivery of creative strategies and solutions that work.
SBDC is funded by the SBA and provides professional business assistance at no cost to businesses. Participating businesses are required to follow a well-defined scope of work and report their economic successes. These SBA milestones are defined as job creation, increase in sales, capital investment, jobs retained and business started.
EDC-VC is a private, nonprofit organization that serves as a business-to-government liaison to assist businesses in Ventura County by offering programs that enhance the economic vitality of the region. For more information about the Small Business Development Center, loan programs, manufacturing outreach and international trade programs, or other services available to small businesses through EDC-VC, contact Bruce Stenslie at 805-384-1800 ext. 24 or firstname.lastname@example.org. Or visit www.edc-vc.com.