DATE: June 3, 2024
TO: Council Economic Development Committee
FROM: Chief Economic Development Officer
SUBJECT
Title
Introduction to East Bay Small Business Development Center's Small Business Finance Assistance Program (Oral Report Only)
End
RECOMMENDATION
Recommendation
That the Council Economic Development Committee receives the presentation from Dr. Nancy Mangold, Executive Director of the East Bay Small Business Development Center (SBDC). Dr. Mangold will provide an overview of the SBDC and the center's Small Business Finance Assistance Program.
End
SUMMARY
The East Bay Small Business Development Center (SBDC), located at Cal State East Bay and funded by the US Small Business Administration (SBA), is part of the greater NorCal SBDC network. This network provides entrepreneurs and small businesses with the tools and support needed to start and grow their businesses. The East Bay SBDC focuses on providing free advisement to clients located in the Alameda and Contra Costa County.
Access to capital is the most common challenge for entrepreneurs. Most entrepreneurs obtain funding through a range of sources including private banks, investment groups and the US SBA. To help businesses secure financing, the East Bay SBDC created a series of free training workshops entitled, "Raising Capital for Small Business". The Center also offers free advisors to assist businesses secure different types of financing. Combined, this training and one-on-one technical assistance connects entrepreneurs with investors and banks. In April, the East Bay SBDC held a "Capital Summit" in Hayward, which brought together East Bay's leading lenders and taught valuable insights on securing capital and funding.
At the June CEDC meeting, Dr. Nancy Mangold, Executive Director for the East Bay SBDC will provide an overview of the Center's suite of services with an emphasis on programming available to help entrepreneurs access capita...
Click here for full text