Wells Fargo funds partnership between SBD-OC and hispanic business consultants

Jack Toan from Wells Fargo Bank presents a check for $100,000 for the technical assistant program 2008 - 2009 to the partnership between Small Business Financial Development Corporation of Orange County and Hispanic Business Consultants. (From right to left)  Eduardo Figueroa, Charles Ledgerwood, Jack Toan and Michael Ocasio

Jack Toan from Wells Fargo Bank presents a check for $100,000 for the technical assistant program 2008 - 2009 to the partnership between Small Business Financial Development Corporation of Orange County and Hispanic Business Consultants.

(From right to left)  Eduardo Figueroa, Charles Ledgerwood, Jack Toan and Michael Ocasio

The Small Business Financial Development Corporation of Orange County (SBFDC) and Hispanic Business Consultants (HBC) believe in a firm mission of building alliances to provide economic development initiatives for Latino entrepreneurs in Southern California. Their leadership has earned them a reputation as the primary educational business specialists for Hispanics through their work over the last eight (8) years providing technical assistance, financial literacy, loan packaging and business training in Spanish.

This partnership has produced positive and measurable results, as many of the Technical Assistance Program graduates have successfully started a wide range of small businesses, including restaurants, house-cleaning services, beauty salons, small manufacturing companies, bookkeeping services, dry-cleaners, bakeries, graphic and web page designs and retail stores, among others. The two companies are fulfilling an unmet need in a mostly economically disadvantaged area by providing educational tools to empower the Hispanic community both economically and socially. The collaboration of SBFDC and HBC has effectively structured viable and sustainable training for the next generation of Latino entrepreneurs who want to successfully start and maintain a business.

It is the philosophy of the SBFDC to assist any business entity in finding capital to start or grow their business. The SBFDC has become known as the leading referral source within the Orange County community. Every client is provided the courtesy of discussing his or her situation, and staff members attempt to locate the best program for each individual, whether it be a bank loan, guaranteed product or nontraditional lender (such as a factor). The staff assists in reviewing business plans and prepares clients by helping them with loan packaging for the application process; if necessary, individuals are referred to a program such as Hispanic Business Consultants (HBC) or the Small Business Development Center for technical assistance. The SBFDC has a referral network of over sixty financial institutions as well as numerous non-traditional lenders.