October 2018
Welcome to our latest newsletter! We are excited to share news about Long Beach's continued economic growth, an update on our Kiva Long Beach Loan Program and news on the latest developments in our city! We are continuously working to bring about new programs and strengthen partnerships that will help sustain this growth for all Long Beach workers, investors, and entrepreneurs. Please keep reading for updates and information on upcoming workshops and events!
September Highlights
Snapshot of Demographic and Economic Contributions of Immigrants in the Long Beach Area Released
Long Beach is one of 25 communities selected for the 2017-2018 Gateways for Growth Challenge, a competitive opportunity from New American Economy and Welcoming America that includes tailored research on the contributions of immigrants to local economies. Findings of this research are detailed in a report revealing that in 2016, immigrants in the City of Long Beach had a significant impact on the local economy. The report advances the economic inclusion goals of the City’s Blueprint for Economic Development by making available important baseline information for the local immigrant community that can be used to help inform the implementation of programs and services.
City of Long Beach Receives Prestigious Helen Putnam Award for Excellence
The City of Long Beach recently received a prestigious Helen Putnam Award for Excellence in the “Economic Development Through the Arts” category from the League of California Cities . The coveted award, which recognizes outstanding achievements by California cities to improve quality of life and services provided to local communities, honors the City’s partnership with the renowned Pow! Wow! Long Beach art festival. Read more.
Local Coffee Roasting Business Is Expanding Operations With the Help of a Grow Long Beach Fund Loan
Rose Park Roasters, LLC was formed by Nathan Tourtellotte and Andrew Phillips in 2008 as a wholesale artisanal coffee roasting business. Growth of their wholesale business since opening a retail storefront had increased significantly, and by 2017, they were ready to expand. The strain of using short-term debt and cash flow to fund this expansion, however, put pressure on the business. The partners sought help from the Grow Long Beach Fund, a small business lending program designed to help in precisely this type of situation. Rose Park Roasters secured a $335,000 loan that was utilized to replenish working capital, provide additional monies to support growth in inventory and refinance existing high interest debt.
Visit our website to learn more about the City's loan programs!
Kiva Long Beach
Help The Little Brass Cafe Fund a $10,000, Zero Interest, Loan!
The Little Brass Cafe, which celebrated its grand opening inside of the Long Beach Airport this past summer is ready to expand by offering a catering menu. The recently approved Kiva Long Beach loan is currently in the private lending period which means that 20 lenders will need to contribute before the loan is put on Kiva's public lending platform. By lending as little as $25 you can help crowdfund a $10,000, interest free loan that will be used for website development, marketing materials, catering supplies and inventory. Your loan contribution will be matched by Los Angeles Local Initiatives Corporation ( LA LISC ).
Long Beach in the News
The Long Beach Post: $30-million ‘Dual-Brand’ Hotel Expansion Breaks Ground Near Long Beach Airport
By: Brian Addison

After announcing the expansion last year, the area occupied by the 13-story Holiday Inn will welcome a neighboring Staybridge Suites as workers broke ground on the project early September. The sister hotel, a six-story structure that will replace the existing two-story building on the site, will provide an additional 75 rooms to the property located at the northwest corner of Willow Street and Lakewood Boulevard, while also expanding the “dual-brand” hotel concept to Long Beach after the first dual-brand hotel, the Hampton Inn and Homewood Suites, opened at Douglas Park along Lakewood Blvd.
The Real Deal: Details revealed for 97-unit mixed-use project in Long Beach
By: Dennis Lynch

Long Beach could see not one, but two large residential projects within blocks of each other move forward this month. Along with a 120-unit mixed-use project at 1105 Long Beach Boulevard, the Long Beach Planning Commission will review a 97-unit project around the corner at 1112-1130 Locust Avenue. The developer of the latter project is Beverly Grove-based South Park Group and is called Locust Long Beach. The seven-story project will be 89,000 square feet and feature a mix of studio, one- and two-bedroom units. More than half will be studios. The developer is Plus Architects.
For full list of articles, visit our news archive
Upcoming Events & Workshops
Join The Salt Lounge for Their Grand Opening Ceremony!
With the help of 33 lenders and matching funds from  the Los Angeles Local Initiatives Corporation ( LA LISC ) , Tanai and Wesley Holder were able to crowdfund a $2,000, zero interest, Kiva Long Beach loan in less than a week! The loan was then used to purchase a salt chamber for their newly opened salt therapy business, The Salt Lounge . The husband and wife team celebrated their first day in business on September 25th and will be hosting an official grand opening that will include a  ribbon cutting ceremony, live art, music, and a tour of The Salt Lounge, on October 20th.
Join the SBDC at LBCC on October 18th for a seminar that will get you on the right path to starting a small business. Topics to be discussed include researching your business ideas, outlining your business plan, learning about start-up expenses and financing, legal aspects, and general management issues.

Founded by the Kauffman Foundation, 1 Million Cups is based on the notion that entrepreneurs network and discover solutions over a million cups of coffee. The free, monthly gathering helps build startup communities on a grassroots level. Attend October 3rd for presentations from Olive Yoga and Teably.