A Monthly Newsletter From AmPac TriState CDC, Inc.
AmPac Becomes a CDFI -
Expanding Its Services As Champions of Job Makers, Small Businesses
AmPac Tri-State CDC, Inc. received notification from the Department of Treasury that the Community Development Financial Institutions Fund (CDFI) has certified AmPac Tri-State CDC, Inc. as a CDFI, a designation earned by mission-driven financial institutions dedicated to providing financial services to meet the needs of economically disadvantaged individuals within underserved communities.
AmPac will expand upon its products to finance and foster the success of business at all stages of growth. This will allow AmPac to continue to serve small businesses: as an SBA 504 lender providing fixed rate, long term fixed asset financing with its banking partners; as an SBA micro lender, providing direct financing up to $50,000; and as a Community Lender, with partnerships with the cities of Riverside and Apple Valley.
As a CDFI, AmPac will be able to deploy additional capital to businesses as a direct lender with flexible underwriting guidelines that seeks to get capital to underserved communities. Among the expected guidelines to better reach women, minorities, veterans and other underserved groups and industries, AmPac will:
SBIR Road Tour Stops in Irvine September 12
A Must-Attend Event for Innovators and Technology Firms
Did you know the SBA administers and coordinates $2+billion Small Business Innovation Research (SBIR) and Small Business Technology Transfer (SBTT) programs also known as America's Largest Seed Fund?
These highly competitive programs provide the needed impetus for many advanced technology firms to move from ideation to commercialization, supporting our country's innovation driven economy.
The SBIR Road Tour is a national outreach effort to convey the
non-dilutive technology funding opportunity provided through the SBIR/STTR programs. The programs annually provide $2.5 billion in funding to small advanced technology firms to spur new technological discoveries and facilitate the commercialization of innovations.
Every SBIR Road Tour stop represents a coveted opportunity to meet directly with Federal and State Program Managers who seed a wide spectrum of innovative ideas, while learning about your state sponsored innovation support infrastructure.
On September 12 the SBIR Road Tour stops in Orange County/Inland Empire at UC Irvine's the Cove.
This is a full day event, with check-in starting at 7:30 AM and a networking reception concluding at 6:00 PM.
Loans Closed Corner
$1.5 Million SBA 504 Loan for Start-Up Woman Owned Business and Micro Loan for Riverside-Based Business
4500 Sq. Ft.
Lot Size: 7500 Sq. Ft.
- Minority woman-owned small business
- Legal Permanent Resident (LPR status)
- Newly formed company established in November 2015
- Specializes in architectural residential and commercial design
- Los Angeles based company with projects in California and China
- Located in Los Angeles, Westlake area
- 4,500 sq. ft.,office building
- Interior and exterior improvements planned
Riverside Micro Loan
Loan Amount: $32,250
- Baja Asian fare inspired food truck in Riverside, CA
- In the past 10 years operated as a food vending business and is now in a position to merge business to a brick and mortar
- Trolley reminiscent of California's history during the Gold Rush
- Menu consists of tacos, fresh Angus burgers, quesadillas, baja bowls, grilled cheese sandwiches, spicy jumbo wings, etc.
- Also provides catering services available for festivals, concerts, corporate events and meetings, fundraisers and sporting events, etc.
About The Loan
- No cash injection required
- Loan funds will be used for working capital and to lease a storefront on Market St., plus equipment and inventory to supply the location
- Funded with 6 year fixed interest of 6.50%
10th Annual Connecting Faith and Business Summit Coming October 12, 2017
Current Interest Rates
20-Year Loan --- 4.76%
10-Year Loan --- 4.49%
Refinance Loan-- 4.81%
Note: The monthly effective interest rate includes the SBA debenture note rate, monthly servicing fees, including CSA fee (0.1%), the CDC fee (0.625%) and the Borrower fee (0.938%).
Before You Take the Aspirin, (Business Loan) Figure Out What Is Causing the Headache, (Poor Cash Flow)
by Eugene Valdez, AKA The Loan Doctor
Many of my clients hire me because they are suffering from "poor cash flow" and they think the solution is a business loan.
There is a reason I call myself The Loan Doctor. My approach in serving clients is analogous to what a medical doctor does for his or her patients.
Initially, I make a diagnosis of my client's current financial health or "lendablity" since they are seeking a business loan.
The first aspect of my diagnosis, however, is to determine what is causing the poor cash flow.
If I choose a "remedy" of a loan to treat the illness of poor cash flow, then I am only addressing the symptom, not the underlying cause of the poor cash flow.
That is a critical distinction. Unless I know why my clients are continually "getting headaches," recommending aspirin will make them feel better for a while, but they will never be fully healed.
Further, once I determine the cause of poor cash flow, I am now able to recommend multiple remedies, which may or may not include a loan. Interestingly enough, there is a number of causes of poor cash flow...
| NAWBO-IE Real Talk About Accessing Capital to Grow Your Business
August 17, 2017
Canyon Crest Golf Club