VEDC News & Press Releases
|VEDC Bringing Access to Capital to Small Business Owners in Bay Area|
FOR IMMEDIATE RELEASE
November 6, 2012
Contact: Lisa Winkle, VEDC
VEDC Bringing Access to Capital to Small Business Owners in Bay Area
Where’s the Money? Access to Capital Business Expo® – November 10th - Featuring a Loan Pavilion – Meet One-on-One with a Loan Officer
Los Angeles, CA – VEDC has partnered with the San Francisco Small Business Development Center to bring the 4th annual Where’s the Money? Access to Capital Business Expo® to small business owners in the Bay Area. The event will take place on November 10th 2012 at the Hyatt Regency Hotel, Five Embarcadero Center, San Francisco, CA from 8:00 a.m. to 3:00 p.m. Where’s the Money?® was a success last year with over 200 small business owners attending, searching for the financing they needed to expand or stay in business. This year promises to be no exception with over 400 entrepreneurs already registered!
Where’s the Money?® is sponsored by Wells Fargo as a comprehensive access to capital expo ideal for business owners looking for money for expansion, working capital, inventory, commercial real estate or equipment purchase. This year’s event includes a networking breakfast which is sponsored by Chase, with opening remarks from Albert Dixon, Director of the San Francisco Small Business Development Center. The luncheon will feature special guests U.S. Small Business Administration (SBA) San Francisco District Director, Mark Quinn, Vice President, Western Regional Sales Manager, Wells Fargo Equipment Finance Bonnie Wright and VEDC client guest speaker, Keba Konte, owner of Chasing Lions Café.
"On my quest to finance my vision of establishing a world-class cafe on the historic campus of City College of San Francisco I hit roadblock after roadblock. It was with the support and guidance of friends, family and VEDC that I was able to pull it off,” stated Keba Konte, owner of Chasing Lions Café. “Now, I employ over 15 people and contract with many more local vendors."
This year U.S. Department of the Treasury’s Community Development Financial Institutions (CDFI) Fund has awarded VEDC a $953,806 grant to support VEDC’s California Small Business Loan Program and stimulate local economic growth and recovery by expanding access to capital. “In a climate where small business owners are facing overwhelming challenges CDFIs are becoming the lender of choice. These funds will allow VEDC to play a critical role in extending statewide access to capital and support in the creation of jobs throughout California.” said Roberto Barragan, VEDC President & CEO.
VEDC’s office in San Francisco is growing and striving to support small business owners in the Bay Area as they move forward in this uncertain economic time. Since January 2011, VEDC has funded over $17 million through their statewide small business loan program.
"My wife and I live in the neighborhood and have wanted our own place for some time now. We enjoy working together and being part of the fabric of people’s lives, and this San Francisco landmark restaurant seemed to be an opportunity of a lifetime. We almost saw our dream pass us by when the projected cost of opening began looking daunting and unapproachable,” said Chef Dane Boryta, owner of Bottle Cap Restaurant in San Francisco’s North Beach Area. “VEDC was the quickest to offer assistance and their helpful staff enabled us to navigate through the process with relative ease. Without them, this beloved restaurant space could still be vacant and we may have seen our chance slip away."
Panels of experts will be conducting workshops focusing on how to find the right lenders for your business, where to find the right professionals to help protect, grown and finance your business and experience and advice from seasoned entrepreneurs that have already been there!
The day will feature a business expo with banks and business resource providers ready to answer your questions. There will also be a loan pavilion where business owners can sit one-on-one with a loan consultant to discuss and determine their lending options in a more confidential setting.
This expo is open to the public. Registration is only $10 and includes the networking breakfast, expo, luncheon, workshops and a one-on-one consultation. For more information or to register please call (415) 841-4050 or visit http://sfmoney2012.eventbrite.com to register.
VEDC is the largest non-profit small business lender headquartered in metro Los Angeles and offers direct micro and small business loans as well as SBA 7(a) and SBA 504 loans. VEDC has a $23 million loan portfolio and over $50 million under management and originates loans totaling more than $40 million annually to businesses locally and statewide. With seven locations throughout the Los Angeles area and San Francisco, VEDC has supported the small business owner for 36 years with the goal of creating and sustaining jobs and businesses by providing high-quality economic development services. For more information visit www.vedc.org