GO-Biz Awards EDC-VC’s Small Business Development Center Funds

Funding helps EDC-VC expand services to the small business community

Online PR News – 28-August-2015 – Camarillo, Calif. – For the second year in a row, the Governor’s Office of Business and Economic Development (GO-Biz) has awarded the Small Business Development Center of Ventura and Santa Barbara Counties (SBDC) matching grants for services. The $65,000 in funding will be used to provide one-on-one, no-cost consulting to area firms with the goal of assisting their access to new loans and equity investment.

"In addition to being named the most beautiful county in America, Ventura has a thriving small business community that will benefit greatly from additional resources at their local SBDC," said GO-Biz Small Business Advocate Jesse Torres. “We look forward to seeing EDC-VC expand its reach to the small business community and help them attain the capital they need to grow and flourish.”

Housed at the Economic Development Collaborative-Ventura County, the SBDC was one of 41 centers in the state to receive a share of the $2 million GO-Biz award. EDC-VC’s Center has nearly doubled its annual Small Business Administration contract goal for new capital infusion, making it extremely competitive in the selection process.

The SBDC provided technical assistance on capital access to more than 250 clients, for a total of 1,639 hours of client advising, from July 2014 to June 2015. This generated over $8 million in new business lending. The SBDC expects to match or exceed these numbers with the funding for this year’s activities.

“The funding honors the hard work of SBDC Director Ray Bowman, Loan Officer Marvin Boateng, our staff and our consultants,” said Bruce Stenslie, EDC-VC president/CEO. “It’s because of their efforts that we can assist even more businesses throughout our service area.”

The Governor’s Office of Business and Economic Development (GO-Biz) serves as California’s single point of contact for economic development and job creation efforts. GO-Biz offers a range of services to business owners including: attraction, retention and expansion services, site selection, permit streamlining, clearing of regulatory hurdles, small business assistance, international trade development, assistance with state government, and much more. For more information visit: www.business.ca.gov

The 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 program, or other services available to small businesses through EDC-VC, contact Bruce Stenslie at 805-384-1800 ext. 24 or bruce.stenslie@edc-vc.com. Or visit www.edc-vc.com.