Sacramento, CA – Today, the California Entrepreneurship Task Force (ETF), with the support of the Office of the Small Business Advocate (CalOSBA) at the Governor’s Office of Business and Economic Development (GO-Biz), hosted a Spanish-speaking rapid response session entitled, “Accesso a Capital – con Diferentes Recursos.” The discussion featured Latinx and Spanish-speaking leaders from the small business and nonprofit lending community, including a Community Development Financial Institution (CDFI) sharing how small businesses can access capital during COVID-19.

Last week, the President replenished the Paycheck Protection Program (PPP) with another $310 billion — including $60 billion for community banks, credit unions and even smaller lenders like CDFIs, which are certified by the Department of the Treasury to provide capital to underserved communities, minorities, and people considered “underbanked.” More than 40 percent of California’s small businesses are minority-owned and many were not able to access PPP in the first round of federal funding.

“The State is here to support all of our small businesses and entrepreneurs,” said Isabel Guzman, Director of the CalOSBA and State Government Lead of the ETF. “The call for a ‘California for All’ is why I was drawn to serve under the Newsom Administration. To me, that translates into access to opportunity and access to entrepreneurship for all. We launched the Entrepreneurship Task Force to make sure the State was prepared to lead a new era where diverse and emerging entrepreneurs continue to help California build and maintain our global leadership. It is crucial that we recognize the minority, women, and immigrant entrepreneurs in the state and the need for connection that is authentic.”

Governor Newsom has allocated $50 million to the California Infrastructure and Economic Development Bank (IBank) for loan guarantees to small businesses to help eliminate barriers to capital for individuals who do not qualify for federal funds, including low wealth and undocumented immigrant communities.

California supports a network of federally contracted small business centers which provide free consulting and training to help businesses figure out which loans are right for them, develop resiliency strategies, and find other resources. The Small Business Center Network map is searchable by language capacity noting service in over 30 different languages. Find a center by clicking here.

To watch today’s Spanish-speaking session, hosted by Isabel Guzman and featuring speakers listed below, click here:

• Nely Galan, ETF member and Founder of the Adelante Movement
• Xiomara Peña, California Program Director/National Entrepreneurship Director for the Small Business Majority
• Adriana Eiriz, Vice President of Sales and Partnerships at Opportunity Fund
• Juan Carlos Hernandez, Vice President and Chief Credit Officer, California Southern Small Business Development Corporation

The rapid response sessions for California small businesses and entrepreneurs occur every Friday alternating in Spanish and English. To learn more about the next sessions, click here.

About GO-Biz
The Governor’s Office of Business and Economic Development (GO-Biz) serves as the State of California’s leader for job growth and economic development efforts. GO-Biz offers a range of services to business owners including: attraction, retention and expansion services, site selection, permit streamlining, clearing of regulatory hurdles, small business assistance, international trade development, assistance with state government, and much more. For more information visit the GO-Biz website.

About CalOSBA
The Office of the Small Business Advocate (CalOSBA) helps support economic growth and innovation by working to ensure that California’s small businesses and entrepreneurs have the information, tools and resources they need to plan, launch, manage and grow their businesses successfully and be resilient. The CalOSBA serves to elevate their voices in state government and to advocate on their behalf to help ensure all aspiring and current small business owners and entrepreneurs are provided with the opportunity to access capital, access markets, and connect to the networks and resources they need to succeed. For more information visit the website.

Kaitlin Lewis
Assistant Deputy Director of Communications
Email: kaitlin.lewis@gobiz.ca.gov
Phone: (916) 204-2107

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Sacramento, CA – Today, the California Entrepreneurship Task Force (ETF), with the support of the Office of the Small Business Advocate (CalOSBA) at the Governor’s Office of Business and Economic Development (GO-Biz), hosted a rapid response session entitled “Access to Capital: Alternative Sources,” which featured leaders from the CDFI and venture capital space discussing how small businesses and startups can access capital during COVID-19.

Small business participants remained focused in their questions on the federal Paycheck Protection Program (PPP). This afternoon, the President signed the Paycheck Protection Program and Health Care Enhancement Act into law. The bill includes $310 billion for the PPP created by the CARES Act, which was passed late last month. The bill also provides $60 billion in disaster loans and grants from the Small Business Administration.

Isabel Guzman, Director of the CalOSBA and State Government Lead of the ETF shared a call to action: “Small businesses must continue to push forward. The tenacity of our small businesses is what helps propel our state economy. Today’s federal announcement is a call to action and our small businesses must be prepared to act swiftly. Some lenders including fin-techs, nonprofits, banks and credit unions, are adding capacity to the system and are opening up applications. Now is the time for California’s small businesses to get PPP-ready and apply.”

Find and contact a lender today by clicking here.

To watch today’s session, click here. The session featured the following individuals helping to lead COVID-19 response for California entrepreneurs:

• Isabel Guzman, Director of the CalOSBA and State Government Lead of the ETF
• Dilawar Syed, Co-chair of the ETF, CEO of Lumiata
• Carmen Palafox, member of the ETF, Partner at MiLA Capital
• Charles Hudson, member of the ETF, Managing partner at Precursor Ventures
• Bulbul Gupta, President & CEO of Pacific Community Ventures

The rapid response sessions for California small businesses and entrepreneurs occur every Friday alternating in Spanish and English. To learn more about the next sessions, click here.

About CalOSBA
The Office of the Small Business Advocate (CalOSBA) helps support economic growth and innovation by working to ensure that California’s small businesses and entrepreneurs have the information, tools and resources they need to plan, launch, manage and grow their businesses successfully and be resilient. The CalOSBA serves to elevate their voices in state government and to advocate on their behalf to help ensure all aspiring and current small business owners and entrepreneurs are provided with the opportunity to access capital, access markets, and connect to the networks and resources they need to succeed. For more information visit the website.

Kaitlin Lewis
Assistant Deputy Director of Communications
Email: kaitlin.lewis@gobiz.ca.gov
Phone: (916) 204-2107

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Sacramento, CA – Today, the Governor’s Office of Business and Economic Development (GO-Biz) announced that the California Competes Tax Credit (CCTC) Committee approved $74,507,665 million in tax credits for 20 companies projected to create 3,060 new, full-time jobs and more than $2,601,894,747 in new investments across California. View the complete list approved companies and award amounts.

In response to Governor Newsom’s executive order authorizing public bodies to take necessary action to protect the public from the spread of Coronavirus (COVID-19), the CCTC Committee meeting was live-streamed and open to the public on Zoom.

“While the COVID-19 induced recession has forced many Californians out of their jobs, today’s announcement demonstrates the commitment to continue investing in California and to putting Californians to work,” said Chris Dombrowski, GO-Biz Acting Director, and Chair of the California Competes Tax Credit Committee. “As the state works to reopen our economy with a prioritization around public health, we remain focused on ensuring our economy works for all Californians, especially our inland communities, many of which are still recovering from the Great Recession.”

Since 2014, GO-Biz has allocated $1,117,978,117 to 1,063 companies projected to create 111,571 new jobs and make $23,559,023,966 in new investments.

Of the more than $74 million awarded in this round, over $20 million will go to businesses seeking to expand, in part, into inland California. In line with California’s Regions Rise Together initiative, this investment is projected to create hundreds of jobs across the state’s inland region, including 320 as part of DesertXpress Enterprises LLC’s High-Speed Rail Construction & Operation.

GO-Biz Acting Director and Committee Chair, Chris Dombrowski convened the committee, which includes Treasurer Fiona Ma, Director of the Department of Finance Keely Bosler, Senate Appointee Todd Walters, and Assembly appointee Madeleine Janis, in Sacramento.

The California Competes Tax Credit was created in 2013 to focus on helping businesses grow and stay in California. In 2018, the program was extended for an additional five years with at least $180 million in tax credits available for allocation to business each year through 2023.

About the California Competes Tax Credit
The California Competes Tax Credit was enacted in 2013. GO-Biz evaluates the most competitive applications based on the factors required by statute, including total jobs created, total investment, average wage, economic impact, strategic importance and more.

About GO-Biz
The Governor’s Office of Business and Economic Development (GO-Biz) serves as the State of California’s leader for job growth and economic development efforts. GO-Biz offers a range of services to business owners including: attraction, retention and expansion services, site selection, permit streamlining, clearing of regulatory hurdles, small business assistance, international trade development, assistance with state government, and much more. For more information visit the GO-Biz website.

Kaitlin Lewis
Assistant Deputy Director of Communications
Email: kaitlin.lewis@gobiz.ca.gov
Phone: (916) 204-2107

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The program focuses on the inclusion and support of individuals in California’s legal cannabis marketplace who are from communities negatively or disproportionately impacted by cannabis criminalization. This is done through small business support services like technical assistance to individuals, reduced licensing fees or waived fees, assistance in recruitment, training, and retention of a qualified and diverse workforce, and business resilience such as emergency preparedness.

At least $23 million of the funding, in the form of low/no-interest loans or grants, will be directly allocated to applicants and licensees specifically identified by local jurisdictions as being from communities most harmed by cannabis prohibition. To date, jurisdictions seeking to create this inclusive regulatory framework represent roughly a quarter of the state’s population.

“These Cannabis Equity Grants reflect California’s desire to lead our legalization efforts with equity and inclusivity,” said Nicole Elliott, Governor Newsom’s Senior Advisor on Cannabis. “We applaud these jurisdictions for not only embracing the challenge of creating pathways to participate in a legitimate cannabis marketplace, but for doing so in a thoughtful way that seeks to uplift all communities. It is our hope that these efforts lead to the creation of a truly diverse industry and that these programs serve as a blueprint for others who share in our commitment to address systemic discrimination and create real prosperity for all.”

To learn more about the program, click here.

About GO-Biz
The Governor’s Office of Business and Economic Development (GO-Biz) serves as the State of California’s leader for job growth and economic development efforts. GO-Biz offers a range of services to business owners including: attraction, retention and expansion services, site selection, permit streamlining, clearing of regulatory hurdles, small business assistance, international trade development, assistance with state government, and much more. For more information visit the GO-Biz website.

About BCC
To subscribe to email alerts to hear about updates as they become available, please visit the Bureau’s website. For information on all three state licensing authorities, please visit the state’s California Cannabis Portal. Follow the Bureau on Facebook, Twitter and Instagram for daily news and updates. Those looking to get in touch with the Bureau of Cannabis Control may contact us directly through email, here.

Kaitlin Lewis
Assistant Deputy Director of Communications
Email: kaitlin.lewis@gobiz.ca.gov
Phone: (916) 204-2107

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Sacramento, CA – Today, the California Entrepreneurship Task Force hosted the second rapid response session, titled “Meeting the Moment,” for small businesses impacted by the COVID-19 pandemic. The sessions are meant to connect and share resources, challenges, barriers, and opportunities for small businesses to pivot and adapt to the marketplace during COVID-19.

To watch today’s session, click here. The session featured the following individuals helping to lead COVID-19 response for California entrepreneurs:

• Isabel Guzman, Director of the California Office of the Small Business Advocate and State Government Lead of the Entrepreneurship Task Force
• Dilawar Syed, CEO of Lumiata and Chair of Entrepreneurship Task Force
• Irma L. Olguin Jr., Co-Founder & CEO of Bitwise Industries, member of Entrepreneurship Task Force
• Teddy Liaw, CEO of NexRep, member of Entrepreneurship Task Force
• Patti Röckenwagner, Co-Owner, Röckenwagner Bakery

Isabel Guzman, Director of the California Office of the Small Business Advocate and State Government Lead of the Entrepreneurship Task Force began the session with a call to action: “I am so pleased that we launched the Task Force last May, and now, we are supporting its members to step into their roles as ambassadors for entrepreneurship and small business – they are truly leaning in to meet this moment.”

The rapid response sessions for California small businesses and entrepreneurs occur every Friday with Spanish-speaking webinars occurring every other Friday. To learn more about the next sessions, click here.

About CalOSBA
The Office of the Small Business Advocate (CalOSBA) helps support economic growth and innovation by working to ensure that California’s small businesses and entrepreneurs have the information, tools and resources they need to plan, launch, manage and grow their businesses successfully and be resilient. The CalOSBA serves to elevate their voices in state government and to advocate on their behalf to help ensure all aspiring and current small business owners and entrepreneurs are provided with the opportunity to access capital, access markets, and connect to the networks and resources they need to succeed. For more information visit the website.

Kaitlin Lewis
Assistant Deputy Director of Communications
Email: kaitlin.lewis@gobiz.ca.gov
Phone: (916) 204-2107

Explore more articles by category:  GO-Biz News  |  CalOSBA News  |  Press Releases |  Opinion Editorials

Sacramento, CA – Today, the California Entrepreneurship Task Force, in partnership with Univision, hosted a Spanish-speaking rapid response session for small businesses impacted by the COVID-19 pandemic. Today’s session is part of an ongoing virtual learning series, which connects California small businesses and entrepreneurs to helpful resources while sharing challenges, barriers, and opportunities for small businesses to improve cash flow and revenues, pivot, and adapt to the current marketplace.

To watch today’s Spanish-speaking session, click here. The session featured the following individuals helping to lead COVID-19 response in Latino and Spanish-speaking communities:

• Diana Dominguez with the Governor’s Office of Business and Economic Development
• Nely Galan, Entrepreneurship Task Force member and Founder of Galan Entertainment
• Claudia Shah, Business Advisor to the Small Business Development Center
• Xiomara Peña, California Program Director/National Entrepreneurship Director for the Small Business Majority

Isabel Guzman, Director of the California Office of the Small Business Advocate and co-chair of the Entrepreneurship Task Force emphasized the importance of reaching businesses in all areas of the state: “California’s small businesses are the backbone of our state’s economy, they are the main streets that define our communities. Now, more than ever, our small businesses and entrepreneurs need our support. Getting resources to these men and women, who are the faces behind the innovation that drives California’s economy, is critical to helping ensure the resiliency of roughly four million small businesses in California.”

On Thursday, Governor Newsom announced new help for small businesses impacted by the COVID-19 pandemic. Read more here.

The rapid response sessions for California small businesses and entrepreneurs occur every other Friday.

About GO-Biz
The Governor’s Office of Business and Economic Development (GO-Biz) serves as the State of California’s leader for job growth and economic development efforts. GO-Biz offers a range of services to business owners including: attraction, retention and expansion services, site selection, permit streamlining, clearing of regulatory hurdles, small business assistance, international trade development, assistance with state government, and much more. For more information visit, www.business.ca.gov.

Kaitlin Lewis
Assistant Deputy Director of Communications
Email: kaitlin.lewis@gobiz.ca.gov
Phone: (916) 204-2107

Explore more articles by category:  GO-Biz News  |  CalOSBA News  |  Press Releases |  Opinion Editorials