Your Small Business Fairy Godmother: Pacific Coast Regional Small Business Development Corporation
At Grandpoint Bank, we’re proud to have many interesting people on our team, and interesting people like to get involved with interesting organizations. David Ross’ chairmanship of Pacific Coast Regional Small Business Development Center (PCR) is a great example.
David is executive vice president and chief credit officer of the Bank. In that role, he’s provided services to many Southern California businesses, which was part of the appeal for him with PCR.
“It’s important that people get the assistance they need to know how to run a business and everything that goes with it,” said David. Remarkably, the lion’s share of that assistance is available for free from PCR.
Knowing PCR’s good work was “worthy of support,” David first joined the board in 2012. During his tenure, the board and staff have reflected the same diversity of the predominantly minority business owners served by the organization, including women.
“Our board is a mixture of many backgrounds, which provides important perspectives,” said David.
Business owners, whether new to the game or serial entrepreneurs, can access training and consulting sessions focused on QuickBooks, social media, web design, business plan development, record keeping, legal matters and more.
PCR can also assist with business loans. If a business doesn’t qualify outright for a loan with its bank, that bank can obtain a government guarantee on that loan from PCR. PCR can also direct business owners to banks where they have working relationships, like Grandpoint Bank, if the owner is seeking a loan, with or without the government guaranteed loan assistance. PCR only loans directly through the Small Business Administration (SBA) loan program. More information about the loan assistance services provided by PCR can be found on its website.
Many small business assistance centers handle California guaranteed loan programs, but PCR is one of the few that has expanded its offerings to serve local business owners and aspiring entrepreneurs in the multiple ways they need support the most. For 40 years, PCR has been a tremendous resource for people throughout Southern California, and even statewide.
One remarkable business assistance program that PCR pioneered is the Business Interruption Fund. As most Los Angelenos know, LA Metro has been building an extensive light rail system. During the red line construction, many businesses were adversely impacted and lost significant revenue.
Subsequently, Metro put several million dollars into its budget to fund grants and selected PCR to manage the grant process. Small businesses demonstrating disruption impact are eligible for a grant to cover lost funds.
The Business Interruption Fund has become a model for the state and nation. The program’s manager was hosted by LA Metro at the national transportation conference in Detroit, and PCR was contacted by Israel, whose leaders are looking to start a similar program. PCR also sends people out through disruption areas to let business owners know about the fund and the educational programs offered through PCR.
We salute PCR’s and David’s work to reinvest in our communities and in people who are bringing their entrepreneurial dreams to life.
Posted on August 17, 2017, in Business Advice, Charity and tagged business interruption fund, David Ross, economic development, entrepreneur training, Government guaranteed loan, LA Metro, Pacific Coast Reginal, SBA loan. Bookmark the permalink. Leave a comment.