GO-Biz Awards $2 Million to CA SBDC Network for Capital Infusion Assistance
Grant Expands No-Cost, One-on-One Business Advising to Help San Diego and Imperial County Small Businesses to Secure Loans and Venture Capital
SAN DIEGO – Furthering its efforts to provide greater access to capital for small business owners and entrepreneurs in the state of California, the Governor’s Office of Business and Economic Development (GO-Biz) announced the awarding of $197,500 to the San Diego and Imperial Small Business Development Center Network to provide one-on-one, no-cost consulting in attaining loans and venture capital.
The grant is part of a $2 million, a one-year allocation, that will benefit 41 Small Business Development Centers in California by providing crucial matching money needed to draw down a Federal grant from the U.S. Small Business Administration.
“The San Diego District Office of the U.S. Small Business Administration is pleased with the support provided by the state of California to the Small Business Development Centers to help provide needed services to those who are trying to develop new businesses or improve existing ones. “said Ruben Garcia, District Director.” We have much to do and much more to accomplish, state funding will help reach these goals. “He added.
The 2015-16 state budget signed by Governor Brown renewed the Capital Infusion Program, which provides a one-time grant to the California Small Business Development Center (SBDC) Network. Through the competitive grant program, individual SBDCs were awarded grant funds that are to be used for one-on-one business consulting services to assist small businesses with capital infusion including SBA loans, non-SBA loans, alternative financing and non-owner equity investment.
“San Diego and Imperial SBDC Network provided assistance to more than 1,700 small businesses last year and we helped our clients access $19.45 million in capital to start and grow,” said San Diego and Imperial SBDC Regional Director Marquise Jackson. “The matching funds that GO-Biz provides are key to our success. We look forward to another year of helping entrepreneurs make their small business dreams a reality.”
Business owners that are interested in receiving no-cost consulting can locate their closest SBDC by visiting www.sdivsbdc.org
About the San Diego and Imperial SBDC Network Program: The San Diego and Imperial Small Business Development Center (SBDC) Program is the leader in providing small business owners and entrepreneurs with the tools and guidance needed to become successful. SBDCs provide comprehensive and expert guidance on issues such as start-up basics, financing, business and marketing plan development, procurement and government contracting. One-on-one advising is funded by the U.S. Small Business Administration and local partners and is offered at no cost. Consulting is supplemented by low-cost or free seminars and conferences. These services are delivered throughout San Diego and Imperial counties via a network of 3 Small Business Development Centers. Learn more by visiting: www.sdivsbdc.org