HomeMy WebLinkAboutMINUTES - 10162012 - SD.3RECOMMENDATION(S):
ACCEPT report by the Business Development Center on the Contra Costa CAN! campaign. (Supervisor Piepho)
FISCAL IMPACT:
None.
BACKGROUND:
In today's economic climate, local entrepreneurs face difficulty accessing traditional bank financing. Without capital,
their business growth is restricted. While there are dedicated nonprofit lenders with funds available for Bay Area
businesses, their presence and activity in Contra Costa is limited.
Contra Costa CAN! (Capital Access Network), a new partnership lead by the Business Development Center, is
committed to increasing lending opportunities for Contra Costa's small businesses.
CONSEQUENCE OF NEGATIVE ACTION:
Not applicable.
CHILDREN'S IMPACT STATEMENT:
Not applicable.
APPROVE OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR RECOMMENDATION OF BOARD COMMITTEE
Action of Board On: 10/16/2012 APPROVED AS RECOMMENDED OTHER
Clerks Notes:
VOTE OF SUPERVISORS
AYE:John Gioia, District I
Supervisor
Candace Andersen, District II
Supervisor
Mary N. Piepho, District III
Supervisor
Karen Mitchoff, District IV
Supervisor
ABSENT:Federal D. Glover, District V
Supervisor
Contact: Jen Quallick 925.252.4500
I hereby certify that this is a true and correct copy of an action taken and entered on the minutes of the
Board of Supervisors on the date shown.
ATTESTED: October 16, 2012
David Twa, County Administrator and Clerk of the Board of Supervisors
By: June McHuen, Deputy
cc:
SD. 3
To:Board of Supervisors
From:Mary N. Piepho, Board of Supervisors District III
Date:October 16, 2012
Contra
Costa
County
Subject:Contra Costa CAN! - Increasing Lending Opportunities for Contra Costa's Small Businesses
ATTACHMENTS
CC CAN!
Governmental Agency
Purpose
In today’s economic climate, local entrepreneurs face
difficulty accessing traditional bank financing. Without capital,
their business growth is restricted. While there are dedicated
nonprofit lenders with funds available for Bay Area
businesses, their presence and activity in Contra Costa is
limited.
Contra Costa CAN! (Capital Access Network), a new
partnership lead by the Business Development Center, is
committed to increasing lending opportunities for Contra
Costa’s small businesses.
Project Components
Marketing & Outreach: A targeted marketing campaign and
preliminary screening efforts will identify potential business
loan applicants.
Loan Packaging: Business Counselors will help interested
borrowers prepare a loan package, including financial
projections, document compilation and a business plan.
Approval: Nonprofit lending partners will review the
completed loan package and make the final decision.
Funding: Nonprofit lending partners will stipulate the loan
terms and will fund and service the loan.
Target Businesses
Small businesses unable to obtain traditional bank financing
who are seeking to start or grow their operations in Contra
Costa County. Industries: Food, Transportation and Medical.
Principal Project Partners
• Business Development Center
• Contra Costa County
• Contra Costa SBDC
• Wells Fargo Bank
• Opportunity Fund
Partnership Opportunity: What is in it for you?
Business growth: Offering alternative lending
resources helps your existing businesses to
expand and hire more employees.
Economic Revitalization: Ability to attract more
businesses to your cities & districts through
access to capital.
Visibility: Opportunity to reach the business
community with a positive message of hope.
To refer a potential borrower or for more
information, call the Business Development
Center at (510) 223-9900
About the Business Development Center (BDC)
Supporting entrepreneurship since 1995, the
BDC believes that small businesses are vital to a
thriving community. As a nonprofit agency, we
are committed to helping entrepreneurs open
and operate successful companies. We believe
that by strengthening local businesses you
create jobs and empower families – changing
lives, one business at a time.
CONTRA COSTA CAN!
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