On June 23 – 24, leadership of Small Business Development Corporation of Orange County gathered with colleagues from sister agencies for the annual statewide Small Business Finance Center meeting, held at the new Los Angeles headquarters for PCR Business Finance. SBDC-OC and PCR are part of a family of seven financial development corporations located around California. They are tasked with administering the state’s flagship small business loan guarantee program and other guarantee initiatives housed within the California Infrastructure and Economic Development Bank (IBank).
During the annual meeting, the agencies’ representatives worked through a full agenda that covered program eligibility rules, appropriate use of proceeds and other actions related to various guarantee programs, as well as requirements for enrolling lenders into IBank’s programs. The financial development corporations partner with lenders toward supplying loan guarantees to eligible small businesses and nonprofits.
These detailed processes and the new information learned during annual meetings are designed to support small business owners toward helping them succeed. In that process, the financial development corporations help grow California’s economy.
“It is a gratifying experience whenever we can gather with our FDC partners, celebrate our successes and support each other in securing California’s role as an economic powerhouse that believes in its small business community,” said Michael Ocasio, chief executive officer of SBDC-OC.
