Four Steps To Secure A Loan For Your Small Business

Adria MossSmall Business Loans, Small Business Resources

how to get small business loan

As a small business grows, it’s almost inevitable that it will need some type of capital injection. Even if you’re doing everything right, there are times when your profit just isn’t enough to reinvest into the business to take advantage of new opportunities. Perhaps the company needs to hire more people, expand to a new location, or fulfill a large purchase order. As exciting as this growth can be, securing an investment can also be overwhelming. We meet and talk with small business owners every day who need capital to grow, but aren’t sure what lenders need or look for. Below are four tips from the small business lender to help you with securing a small business loan. Before starting a conversation with a potential lender, it is important that a small business owner knows how much money the business needs, and what it will be used for. For example, … Read More

Get Ready For Small Business Saturday 2016

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

small business saturday

Now in its seventh year, Small Business Saturday serves as the 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. 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 businesses, as opposed to zero net new jobs from giant corporations. 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. Our friends at Fit Small Business recently looked into why Small Business Saturday is so important for these job-creating community businesses: Over half (52%) of consumers plan to shop the weekend following Thanksgiving. 1 in 4 holiday shoppers (24%) are planning to “shop small” and … Read More

Meet Our Latest Borrower: Maker’s Common

Patrick DugganSmall Business Clients And Success Stories, Small Business Loans

makers common

Maker’s Common is a combined eatery and retail market, located in Downtown Berkeley, from the team that created the popular Mission Cheese restaurant in San Francisco. The restaurant is opening in 2017, and the team’s plan for the space is to have — of course — tons of cheese, plus charcuterie, wine, bread, and beer to go. The restaurant portion will be in line with the offerings at Mission Cheese, but with an expanded in-house charcuterie program, family-style dinners, and more. At the core of their business is the community of Bay Area makers that the team seeks to support as vital to the economic, environmental, and social health of our country for a multitude of reasons. By sourcing almost exclusively from this community of small responsible producers, Maker’s Common advances healthier eating, more responsible land management, more economically resilient communities, more connected communities, and diversity in opportunities for working … Read More

Meet Our Latest Borrower: Preservation & Co.

Patrick DugganSmall Business Clients And Success Stories, Small Business Loans

preservation and co

Preservation & Co. offers a line of jams inspired by cocktails, and also cocktail mixes and pickled products. It was founded by Jason Poole in 2011, after he’d worked for 17 years in the service and hospitality industry. His passion for food got bigger and bigger, and he decided to start the company as a creative outlet. His grandfather was a farmer, so preservation of crops came as a natural interest. He decided to incorporate that with two sides of his life: working in a bar, and loving food. Since then, the company has really caught on and grown. In 2012 they won a national Bloody Mary competition, and were finalists for several Good Food awards. They started to be sold in major grocery stores, and over 600 bars and restaurants. With all of that growth, Jason needed to scale up and came to PCV for support. With PCV as … Read More

Meet Our Latest Borrower: Boba Guys

Patrick DugganSmall Business Clients And Success Stories, Small Business Loans

boba guys

Boba Guys offers artisanal boba and tea. The company brews real tea leaves and never uses powder. All teas are steeped in house. They have partnered with local producers like Straus Family Creamery to use organic milk and offer Califia almond milk or organic soy milk for non-dairy alternatives. For sweeteners, the company makes their own syrups from natural brown sugar. Boba Guys also offers Hong Kong Toast made with their own housemade buttercream. Boba Guys began in 2011 when owners Bin and Andrew worked together at Timbuk2 (another PCV company!). Bin and Andrew found they had the same upbringing despite their geographic and cultural differences: Bin from small-town Texas and Andrew from New Jersey. They bonded over lunch runs to the local small business boba shop in the Mission. One day, it closed down. After watching countless hours of YouTube videos about making the perfect cup of boba milk … Read More

PCV Is Adding Microloans To Our Small Business Lending Program

Patrick DugganPCV News, Small Business Loans, Small Business Resources

small business microloan

We’re thrilled to announce that beginning today PCV is offering microloans in amounts of $10,000–$50,000 to help California small businesses add jobs, purchase equipment, expand their inventories, repair machinery, or get through construction. PCV’s small business loan program started during the Recession, when many major banks stopped offering business loans under $250,000. This capital crunch made things harder for small businesses in underserved areas who were already fighting to stay afloat. 1/3 of entrepreneurs who apply for a bank loan are rejected; 54% among people of color. And women in general are turned down for loans 20% more often than men. In California, PCV has been filling part of this gap with loans between $50,000 – $200,000 for small businesses that can’t get financing from traditional financial institutions or the Small Business Administration. We listened when more and more of you said that you need small business loans under $50,000, … Read More

Meet Our Latest Borrower: Red Door Catering

Patrick DugganSmall Business Clients And Success Stories, Small Business Loans

red door catering

Red Door Catering is a local business that supports local business. They work with local farmers and producers to gather the best organic, seasonal ingredients they can to make their food simply taste good. The company prides itself on composing new fusions to excite the palette as well as putting a fresh twist on the old favorites to satisfy the soul. Chef Reign Free has been in the kitchen since she was nine, seated on a stool beside her mother cooking traditional West Indian dishes for her family. As an entrepreneur, Chef Reign continues to push the envelope of customer service, community consciousness and innovative cuisine. Chef Steven Rubin grew up on Philadelphia’s Main Line and perfected his craft at a number of Bay Area establishments including Stars Restaurant. He also emcees Iron Chef competitions, traveling the country when time allows! Red Door Catering is a special event planner for … Read More

Own The Business? Own The Building!

Patrick DugganSmall Business Loans, Small Business Resources

When your successful small business is ready to take that next step, expanding your assets can be a great way to move forward. After labor, rent and other occupancy costs are a small businesses’ biggest expense. Owning your own building or other business facilities can make all the difference in stabilizing your small business finances. Our friends at TMC Financing can help. You can write your next rent check to yourself and begin building equity for your retirement buy owning your building with as little as 10 percent down through the U.S. Small Business Administration 504 loan program, versus the 25-40 percent down payment required with a conventional commercial mortgage. Founded in 1981, TMC has grown to become the largest provider of SBA 504 commercial real estate loans in Northern California. The SBA 504 loan program allows small business owners to buy, build, or renovate business property at very attractive … Read More

Meet Our Latest Borrower: Out Of The Box Collective

Patrick DugganSmall Business Clients And Success Stories, Small Business Loans

out of the box collective

Out Of The Box Collective is a certified B-Corp farm-to-table home delivery service. Founder Jennifer Piette had an international career in film before moving to Los Angeles in 2007. She was a screenplay writer for three more years before her passions for food, health, and the environment led her to start Out Of The Box Collective in 2011. They were one of the first companies nationally to specialize in sourcing local foods from not just farmers, but ranchers, fishermen, bee-keepers, artisans, vintners and more. Jennifer manages the daily operations, sales, and logistics of the company, while her husband Jason manages the accounts, deliveries, and web presence. Every week, Out Of The Box Collective provides a curated local selection of organic produce, pastured meats, artisan goods, meal plans, and recipes to households across Southern California. They prioritize buying local, organic or pesticide-free, GMO-free whenever possible, and sustainably produced foods. The company … Read More

How To Find The Right Loan For Your Small Business

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

venturize

Nationwide, nearly 8 million small businesses owned by people of color, and 11.3 million women-owned small businesses, are powering their communities. But entrepreneurs of color and women entrepreneurs, particularly those 40 years old and younger, struggle to obtain the credit needed to start up their businesses or keep them going. Women entrepreneurs start companies with 50 percent less capital than male entrepreneurs, and minority business owners are denied loans at nearly three times the rate of non-minority owners. On top of that, the financial crisis that shook the entire national economy was damaging for small businesses in general, but especially small businesses owned by people of color, as large banks cut back on lending to small businesses. In the wake of the recession, a plethora of online lenders are promising small business owners “quick and easy” cash, without disclosing the hidden fees, high interest rates, and prepayment penalties that can … Read More