(http://www.GlobalPrivateFunding.com)
The Small Business Development Centers
(SBDC)(http://ctt.marketwire.com/?release=886303&id=1599934&type=1&url=http%3a%2f%2fedcsbdc.org%2f)
are launching a new capital access program to assist business owners
in preparing for funding and investment. GPF Real Estate & Financing
Corporation (Global
REFCo)(http://ctt.marketwire.com/?release=886303&id=1599937&type=1&url=http%3a%2f%2fwww.globalprivatefunding.com%2f),
a subsidiary of Global Private Funding, Inc.,
(Global)(http://ctt.marketwire.com/?release=886303&id=1599940&type=1&url=http%3a%2f%2fwww.globalprivatefunding.com%2f)
will provide the financial packaging services for SBDC
clients(http://ctt.marketwire.com/?release=886303&id=1599943&type=1&url=http%3a%2f%2fwww.sba.gov%2fcontent%2fsmall-business-development-centers-sbdcs)
through workshops and one-on-one step-by-step guidance. The goal is to
prepare business owners to present their businesses in the most
positive light and capture the attention of venture capital (VC),
private investors, underwriters and revenue financiers.
Bruce Stenslie, President and CEO of the Economic Development
Collaborative(http://ctt.marketwire.com/?release=886303&id=1599946&type=1&url=http%3a%2f%2fwww.edc-vc.com%2fstaff.htm)
serving Ventura and Santa Barbara County (EDC-VC), shared that
creative financing and access to capital will turn the economy around
creating greater consumer confidence and local jobs. Lawrence Hermelee
at
SBDC(http://ctt.marketwire.com/?release=886303&id=1599949&type=1&url=http%3a%2f%2fedcsbdc.org%2fabout%2fstaff%2f),
a retired banker who masterminded this program, added that most often,
businesses, even those growing exponentially reach glass ceilings and
walls that though one can see through to the other side, remain a hard
barrier holding the businesses from growth. Larry further added that
Global's Business Incubation
process(http://ctt.marketwire.com/?release=886303&id=1599952&type=1&url=http%3a%2f%2fwww.globalprivatefunding.com%2fglobal_private_funding_services_business_incubation.php)
helps businesses break the invisible barriers and grow. In an
interview, Andrew Halarewicz, Vice President of Business
Development(http://ctt.marketwire.com/?release=886303&id=1599955&type=1&url=http%3a%2f%2fwww.linkedin.com%2fin%2fandrewhalarewicz)
of Global, at the Century City branch, explained how the Global
Business Incubation program is performance based and therefore does
not burden the businesses with advance fees. The clients and Global
are aligned through performance-based compensation.
Mary Kananen, the Community Outreach
Manager(http://ctt.marketwire.com/?release=886303&id=1599958&type=1&url=http%3a%2f%2fwww.linkedin.com%2fin%2fmarykananengpf)
at Global, spoke of the Global Center for Excellence
Award(http://ctt.marketwire.com/?release=886303&id=1599961&type=1&url=http%3a%2f%2fwww.globalprivatefunding.com%2fglobal_private_funding_about_us_change_the_world.php),
an award to challenge and inspire Innovation & Creation of Disruptive
Technologies(http://ctt.marketwire.com/?release=886303&id=1599964&type=1&url=http%3a%2f%2fglobalprivatefunding.com%2fglobal_private_funding_about_us_environmental_stewardship.php).
Mary described disruptive as similar to the invention of the
light-bulb vs. the candle. The nominations for this award are through
research institutions and grant award committees at various private
and government agencies. SBDCs of EDC-VC have been selected to submit
up to five (5) candidates per year for California. Mary explained that
the award is not based on a bell-curve, rather on merit and that there
are years when nominees do not meet award standards; it's a challenge,
not just recognition. The recipient of the award is given up to
$100,000.00 to further develop the technology, up to $250,000.00 in
consulting, marketing and product placement development through
Global(http://ctt.marketwire.com/?release=886303&id=1599967&type=1&url=http%3a%2f%2fglobalprivatefunding.com%2fglobal_private_funding_services.php),
and a one year management internship.
Joshua Loeb, Associate Vice President, Lending & Venture
Investment(http://ctt.marketwire.com/?release=886303&id=1599970&type=1&url=http%3a%2f%2fwww.linkedin.com%2fin%2fjoshualoebgpf)
at Global expressed his excitement about the new Global-SBDC
micro-loan startup fund. We have experience launching similar
funds(http://ctt.marketwire.com/?release=886303&id=1599973&type=1&url=http%3a%2f%2fwww.kiva.org%2flender%2fglobalprivatefunding).
He expressed that most often, funding a half a million dollars
($500,000.00) to an established business is far less complicated than
the few thousand needed to start a business. According to the Wells
Fargo/Gallup(http://ctt.marketwire.com/?release=886303&id=1599976&type=1&url=http%3a%2f%2fwww.nyse.com%2fabout%2flisted%2flcddata.html%3fticker%3dWFC)
Small Business Index study of 2006, small-business owners spend an
average of ten thousand dollars ($10,000.00) to start their business.
"The Global-SBDC micro-fund is vital to unshackling startups," said
Joshua.
Jessica Beavers, Vice President of Health and Human Services Group at
Global(http://ctt.marketwire.com/?release=886303&id=1599979&type=1&url=http%3a%2f%2fwww.linkedin.com%2fin%2fjessicabeaversgpf),
spoke about the changes to
Medicare(http://ctt.marketwire.com/?release=886303&id=1599982&type=1&url=http%3a%2f%2fwww.cms.gov%2f)
and the migration of medical service from fee-for-service to
results-based through Accountable Care Organizations
(ACOs)(http://ctt.marketwire.com/?release=886303&id=1599985&type=1&url=https%3a%2f%2fwww.cms.gov%2fMedicare%2fMedicare-Fee-for-Service-Payment%2fACO%2findex.html).
The SBDC will expand its services to physicians by bringing ACO and
IPA origination services to physicians. Jessica spoke of the benefits
of physicians collaborating to start their own ACO or an IPA opposed
to joining one. She also spoke about how hospitals, in creating their
own ACO, retain good physicians. Medicare reform is here and the ACO
model is one that can be implemented to benefit private patient
practices and HMOs to reduce costs.
Ray Bowman, Director of the
SBDC(http://ctt.marketwire.com/?release=886303&id=1599988&type=1&url=http%3a%2f%2fedcsbdc.org%2fabout%2fstaff%2f)
who was recently assigned to the prestigious National District Export
Council by Secretary of Commerce, John
Bryson(http://ctt.marketwire.com/?release=886303&id=1599991&type=1&url=http%3a%2f%2fwww.commerce.gov%2fabout-commerce%2fcommerce-leadership%2fsecretary-john-bryson),
plans to take this model across California and to other states
enabling SBDCs across the nation to provide greater value to their
clients. It's not just about funding and financing, it's also about
showing business owners how to become better operators and create an
exit strategy so that there are milestones and a pot of gold at the
end of the rainbow.
The SBDC network is part of the national Small Business Administration
(SBA)(http://ctt.marketwire.com/?release=886303&id=1599994&type=1&url=http%3a%2f%2fwww.sba.gov%2f)
providing individualized consulting and training to new and growing
businesses.(http://ctt.marketwire.com/?release=886303&id=1599997&type=1&url=http%3a%2f%2fwww.sba.gov%2fcategory%2fnavigation-structure%2fstarting-managing-business)
Global is an equity based lender who specializes in incubating
businesses and financing. Unlike venture capital firms, Global does
not take equity. Often, venture capital firms retain Global's
incubation services to secure success of their acquisitions. Global
finances collaboratively with its partners as well as by connecting
investors directly to the investment. Global does not charge the
investors any fees, thus, maintaining its impartiality.
Dr. Sam Francis Senev, Chairman of
Global(http://ctt.marketwire.com/?release=886303&id=1600000&type=1&url=http%3a%2f%2fwww.linkedin.com%2fin%2fsamsenev),
reiterated the importance of SBDCs: "That the local businesses are who
support the local economy and if we as a community want to champion
change, we can think globally, but we must act locally."
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