A recent grant from City National Bank will provide important support for Small Business Development Corporation of Orange County’s mission serving underrepresented small business owners and their communities. The corporation received approval on Sept. 15 for a $15,000 grant from City National under the Community Reinvestment Act. All of the contribution will be used for unrestricted program support and will cover such areas as technical assistance for business owners including guidance with loan packaging and education. The funding will also provide support for the loss reserve for SBDC-OC’s Entrepreneur Loan Fund (ELF), a micro-credit program assisting small businesses.
“We are so grateful to City National’s partnership and support of our mission to assist small business owners most in need of capital access,” said Richard Lee, the development corporation’s senior vice president for commercial lending. “As a public benefit nonprofit, grants like these are vital to our ability to continue our work aiding the small business community and ultimately the California economy.”
SBDC-OC is a mission-driven organization dedicated to assisting small businesses, particularly those owned by women, minorities, veterans and the disabled located in underserved communities, in securing operating capital. Funding opportunities are provided through a variety of access programs including its Entrepreneur Loan Fund, California’s State Loan Guarantee Program, Export Lines of Credit, bond conduit and Green Energy Initiatives.
