Dear Sean,

We invite you to view our upcoming LIVE webinar and learn about different funding programs for your small business.

Upcoming LIVE Webinar:

Licenses and Permits

Learn how about the different licenses and permits you may need to start your business and discover tools and resources that are available to support you!

Presented by Joshua Botello, SBDC Business Associate.

Small Biz Blog Client Spotlight:

Magic Oil Box LLC

Learn the story of how Alex Cordova, a local business owner, started his business and accessed capital with the help of SBDC Consultant Mark Hicks!

Alex Cordova is the owner of Magic Oil Box, LLC, a horror-inspired aromatherapy business whose name is a reference to “Buffy the Vampire Slayer '' tv show magic shop. “Working with essential oils, I simply added ‘oil’. So, the Magic Oil Box,” Alex explained. Alex is a 1st generation Hispanic college graduate from the University of La Verne and a member of the Los Angeles LGBT Chamber of Commerce. 

Alex was receiving information from several different organizations including NASE and LALCC. Alex received updates on the California Dream Fund, a grant aimed to fund new start-up businesses with up to $10,000 in seed funding. Alex reached out to start working with the University of La Verne SBDC to get help with his business and the Dream Fund Program.

Challenges

Alex's main challenge was having the working capital to run the business. As the Magic Oil Box was only starting up and Alex was still working a full-time job and doing events every week, it was difficult to qualify for business loans. “I didn't really know where to begin because you know, you can google search anything, but how do I know it’s legitimate,” said Alex. Alex also struggled to do bookkeeping for the business at a reasonable cost for a new entrepreneur.

Solutions

Alex first met with Advisor Mark Hicks to create a business plan to manage the business and pursue funding opportunities. Alex was later accepted into the Dream fund training program to apply for the grant. “By doing so I was already ahead of the game once I completed the California Dream Fund Courses and translated it from one format to another. It was just a very smooth process for me,” Alex explained.

The Center by Lendistry has launched a new Contractors Accelerator program providing construction and professional services firms with hands-on resources, learning, and one-on-one support to confidently pursue millions in public contracts.

Launching in March, the 4-part virtual series will prepare a cohort of small business owners to better understand:

• Public contract research
• Pitching
• Bidding, and
• Management process

Participants will also receive 5 hours of one-on-one business development services, and eligible program participants can be pre-approved for contractor financing.

Program Eligibility

• At least 3 years in business
• Minimum revenues of $250k/year
• Must be located in the following Counties: Los Angeles, Riverside, San Bernardino, Orange, San Diego, Imperial, or Ventura
• Must be in the following industries: Construction (all trades) and Professional Services

Diverse business ownership a plus (BIPOC-owned, woman-owned, veteran-owned, LGBTQ-owned)

Info Session: February 9, 2023,

12 - 12:30 pm

Applications are open until

February 17th.

Boss Impact Fund

Less than 1% of minority founders get investment funding for the start of their small businesses. The BOSS Network aims to tackle the issue by providing grants for Black women entrepreneurs and access to a 1-year mentorship program, to assist in their business growth. Deadline is February 24, 2023.

Democratizing the Friends & Family Round

Project Entrepreneur, a program by UBS, aims to level the playing field for female founders by providing access to the resources, training, and networks they need to build and grow their companies. In partnership with Hello Alice, UBS is offering $25,000 in grants and mentorship to 20 female founders of color in NYC who are leading venture-scalable companies.

The deadline is March 3, 2023.

California Venues Grant Program

The California Venues Grant Program (“Program”) will support eligible independent live events venues that have been affected by COVID-19 in order to support their continued operation. Grants awarded under this Program shall be in an amount equal to the lesser of two hundred fifty thousand dollars ($250,000) or 20 percent (20%) of the applicant’s gross earned revenue in California for the 2019 taxable year.

City of Claremont CDBG Job Creation and Business Incentive Grant Program

For prospective and existing business owners who need financial help, the City is offering the Job Creation & Business Incentive Program that provides a forgivable loan, in exchange of job creation for low-income persons.

Eligible Business

To qualify for this program, the business has to either be a new business, or an existing business wanting to expand their gross floor area by 50% of more. These business must fall under one of the following categories:

• Retail
• Quality food establishments
• Entertainment businesses (must sell concessions/food items)

Use of Funds:

Grants can be used for business expenses such as:

• Interior/exterior improvements
• Purchase of business equipment, furniture, and/or fixtures
• Working capital

Job Creation Requirement

1 new full-time equivalent job must be created per $25,000 of the loan awarded.

The Fedex Small Business

Grant Contest

It’s almost time—you could win $30K for your business.

You’ve been all in for your business since day one. You’re always learning, always hustling, always striving for more. And soon you could have the opportunity to drive your small business even further with help from FedEx. You have a chance to win $30K from the FedEx Small Business Grant Contest—are you ready to go all in to try to win?

Entry period opens on January 31st, 2022.

Metro Business Interruption Fund

Metro’s BIF is administered as a pilot program in partnership with PCR. PCR uses the BIF to provide financial assistance to small “mom and pop” businesses impacted by transit rail construction along the Crenshaw/LAX Transit Project, the Little Tokyo Regional Connector with its 2nd/Broadway segment, and Section 1, Section 2 and Section 3 of the Purple Line Extension. 

The Amber Grant

About the Amber Grant

WomensNet founded the Amber Grant Foundation in 1998. The Foundation was set up with one goal in mind: to honor the memory of a very special young woman, Amber Wigdahl, who died at just 19 years old — before realizing her business dreams.

Today, WomensNet carries on that tradition, giving away at $10,000 every month in Amber Grant money. Each of those monthly winners is then eligible for our year-end grant of $25,000.

How Do I Apply For an Amber Grant?

Applying is simple. Just take a few minutes to tell us about yourself and your business dream. No long, complicated forms to fill out. We announce the $10,000 Amber Grant recipient the first week of every month, and the $25,000 annual winner every January. 

The San Bernardino County Microbusiness COVID-19 Relief Grant is designed to assist businesses that have experienced economic barriers due to the effects of the global pandemic. The San Bernardino County Board of Supervisors approved $2,500 to be disbursed to qualified businesses. San Bernardino County is proud to provide this grant to our business community.

Businesses must prove financial hardship and should be located in Los Angeles County or nearby counties

• Loan Amount - $5,000 to $250,000
• Interest Rate - 6.5% to 7.25%
• Term - Up to 7 years

Microloan Lite

• Loan Range: $5,000 to $15,000
• Term: 1 - 3 years
• Interest Rate: 6-7%
• Processing Fee: 5%

Microloan

• Loan Range: $15,001 to $50,000
• Term: 2 - 5 years
• Interest Rate: 6 - 9%
• Processing Fee: 5%