Good Jobs For Working People

Patrick DugganPCV News


(this post from PCV’s President and CEO Mary Jo Cook originally appeared on Huffington Post) In the six years since the end of the recession, our economy created 12 million jobs and unemployment dropped below 5%. Each month, the Bureau of Labor Statistics survey continues to show hundreds of thousands of new jobs added to the economy. Great news? Not for all of us. While our economy has improved on paper, the average American worker is experiencing a different reality. During the last few years, the fastest-growing jobs have been at places like strip malls and fast-food restaurants — low-wage work with few benefits and unpredictable schedules. Averaged across all occupations, real wages have not only remained stagnant but have dropped, building on a decades-long trend where workers and their families increasingly cannot afford the basic goods and services they need to get by. It’s an economy that’s leaving far … Read More

Equator Coffees And Teas Named California Small Business of The Year

Patrick DugganPCV News, Small Business Advising And Mentoring, Small Business Clients And Success Stories

equator coffee

A major congratulations is in order for Helen Russell and Brooke McDonnell at Equator Coffees And Teas. They’ve been selected as the U.S. Small Business Administration’s Small Business Persons of the Year for California. This is the first time in the SBA’s 63-year history, that they’ve selected lesbian, gay, bisexual or transgender (LGBT) business owners. A major milestone! Here at PCV, we couldn’t be happier for them. Helen and Brooke began working with us in 2007, where we provided them with pro bono business advising from a variety of experts. When we first started working together, they were trying to figure out how to both grow and get ready for equity investments without losing their social mission, commitment to sustainability and living wages, and their brand identity. And boy did they figure it out. In 2011, Equator was the first coffee roaster in the U.S. to become a certified B … Read More

Meet Our Latest Borrower: Blue Stars Admissions Consulting

Patrick DugganPCV News, Small Business Clients And Success Stories, Small Business Loans

pacific community ventures small business impact investing quality jobs

Dr. Amy Morgenstern worked for nearly two decades in academic and editorial roles before deciding to start her own company, Blue Star Admissions Consulting, assisting high school students to prepare for and apply to college. Since its inception in June 2010, Blue Stars grew through word of mouth and by establishing relationships with Amy’s contacts in the academic world. Since its start, Blue Stars has had tremendous success in assisting students in getting admission to some of the nation’s most prestigious colleges. They take a customized approach for each student and find programs that best align with their values and academic goals. The company has experience with a wide breadth of institutions such as the UC system, private liberal arts colleges, religious institutions, and Ivy League institutions. Over the past five years, the company grew to include two part-time employees and eight consultants. But demand hasn’t stopped, and Amy has … Read More

Small Businesses Can Drive A Quality-Jobs Economy

Patrick DugganInSight, PCV News, Quality Jobs, Small Business Advising And Mentoring, Small Business Loans

pacific community ventures small business impact investing quality jobs

While our economy’s improved on paper, most of us know in our gut that’s not the whole story. During the last few years, quality job creation has been anemic, and way too many workers have jobs that don’t allow them to support themselves and their families. Since the end of the Great Recession, 11.3 million jobs have been created — but average wages have dropped 23 percent. The top five fastest-growing occupations have been in low-wage work, in personal care and at places like strip malls and fast-food restaurants. These are all jobs that also need some form of public assistance. We hit another tipping point as 2016 began: middle-income households have become the minority in America for the first time since World War II. And African-Americans and Latinos fare even worse. As our nation’s job creators, small businesses can be a part of the solution. According to the Federal … Read More

Save The Date! Our Annual Luncheon Is Coming April 14

Patrick DugganPCV News

pacific community ventures small business impact investing quality jobs

We want you to invest in quality jobs. Imagine what life is like when you don’t know where your next paycheck is coming from — or if your current paycheck doesn’t pay the bills. We have both a moral and an economic imperative to fuel economic equality and mobility in this country. Join us and make an impact in the lives of working Americans. Pacific Community Ventures is hosting our 2016 annual event on Thursday, April 14, 2016 in downtown San Francisco. We’ll be asking the question: What are quality jobs and how do we create them? Plus, our new President and CEO — Mary Jo Cook — will lay out our vision for the future of Pacific Community Ventures. The event includes lunch, networking opportunities with economic development professionals, impact investors, and Bay Area small business owners, and a panel discussion on “How Do We Create Quality Jobs For Working … Read More

Pacific Community Ventures Working To Make Super Bowl 50 A Bay Area Business Success

Patrick DugganPCV News, Small Business Advising And Mentoring, Small Business Clients And Success Stories

super bowl 50

In the past year, there’s been a lot of reporting around the costs of hosting a major sporting event. The city of Boston rejected a potential bid to host the Olympics, and the city of Glendale has lost millions of dollars in hosting its games. The Super Bowl 50 host committee here in San Francisco is keenly aware of that history, and working to change it. Super Bowl 50 is more than the NFL’s marquee game of the year – it’s a chance for the region’s diverse business community to tap into opportunities for new contracts, work and business growth. To drive that, the Super Bowl 50 Host Committee has launched the Business Connect program to work with businesses located in the nine-county San Francisco Bay Area region that are certified as minority-owned, women-owned, or disabled veteran-owned. A Super Bowl can have an impact of $200 million to $500 million on … Read More

Create A Job This Holiday Season

Patrick DugganPCV News

pacific community ventures small business impact investing quality jobs

#GivingTuesday 2015 is happening on December 1st— and we want to get you involved! We have a day for giving thanks. We have Small Business Saturday for shopping local. Now, we have #GivingTuesday, a global day dedicated to giving back. On Tuesday, December 1, 2015, charities, individuals, families, businesses, community centers, and students around the world will come together for one common purpose: to celebrate generosity and to give. It’s a simple idea. Just find a way for your family, your community, your company or your organization to come together to give something more. Then tell everyone you can about how you are giving. Join us and be a part of a global celebration of a new tradition of generosity. The Great Recession destroyed almost 3 million jobs at small businesses, and devastated America’s working people and low-income communities. Pacific Community Ventures has fueled the recovery since the end of the … Read More

Small Business Saturday 2015 Is Fast Approaching

Patrick DugganPCV News, Small Business Advising And Mentoring, Small Business Loans, Small Business Resources

Now in its sixth year, Small Business Saturday serves as the ceremonial kickoff to the holiday shopping season for small businesses across the United States. Each year, shoppers spend tens of billions at small businesses on the Saturday after Thanksgiving. The day was also championed by elected officials in all 50 states and Washington D.C., including President Obama who took his daughters shopping at local stores last year. Focusing on small businesses and local jobs directly combats income inequality. Small businesses create jobs — 70% of the jobs created since the end of the recession came from small business. But simply creating jobs won’t stem the tide of income inequality. The kinds of jobs being created, and where those jobs drive their wealth, matters just as much. “Mom and pop” businesses and entrepreneurial ventures bring stability and renewed energy to deteriorating neighborhoods, and help revitalize poor inner city, suburban and rural areas. And, studies … Read More

PCV Has Signed The Small Business Borrowers’ Bill Of Rights

Patrick DugganPCV News, Small Business Loans

Like many of our CDFI colleagues, Pacific Community Ventures is alarmed at the rise of predatory small business lending. Small business owners are struggling through many of the problems we saw in the subprime mortgage and payday lending crises. But there’s a critical difference—predatory small business lending is still young enough that we can slow or even stop it, if we act quickly. That’s why Pacific Community Ventures has today signed the Small Business Borrowers’ Bill Of Rights. As America’s workers and small businesses start to regain some solid footing in the aftermath of the great recession, it’s important to remember that small businesses have helped create the lions’ share of the jobs during the recovery (7 million, according to the U.S. Small Business Administration). Despite 70% of new jobs being created by small business, bank lending and state investments in them are down. Although the decline in bank lending … Read More

PCV’s Loan Fund Is Meeting Its Mission

Patrick DugganPCV News, Small Business Clients And Success Stories, Small Business Loans

pacific community ventures small business quality jobs impact investing

We started our small business loan fund to meet the needs of small businesses that wanted to grow and create new jobs for working people. But for one reason or another, these small businesses were unable to secure capital from a traditional bank, credit union, or the Small Business Administration (SBA). PCV uses the venture capital model of pairing our capital with pro bono expert business advising, to help our small business owners grow sustainably — and once they’ve grown to prepare them to access more traditional sources of capital. We’re happy to announce that model is succeeding! Two of our loan fund borrowers, Gravel & Gold and Bamboo Asia, have successfully repaid their loans, and are now growing as fully bankable companies. Gravel and Gold is an independent retailer in the Mission District of San Francisco. Founded by three women in 2008, Gravel and Gold has cultivated a large … Read More