OBDC Managing Director Megan Himan

The SBA just announced its rankings for the fiscal year 2005, and the top lender in Alameda County by volume (Bank of America) funded 80 loans last year. OBDC Small Business Finance logged 87 loans – which would make us the top small business lender in Alameda County if all the loans we faciliated were SBA.

OBDC doesn’t technically fund just SBA loans – our loan funds are established by the City of Oakland, the County of Alameda and other groups to help achieve economic development goals. We also help package SBA loans that ultimately get funded by traditional lenders in the Bay Area.  We work hard to get the businesses we work with the financing they need – and the numbers prove it.

Does your business need financing for your expansion project? Is your client interested in working with the number one business lender in Alameda County?

Here are some reasons to work with OBDC for your business financing needs:

A Personalized Approach

OBDC Executive Director Michael McPherson

One of OBDC’s bank partners, Wells Fargo, has recently published lots of useful information for small business owners through their “Hands On Banking” © campaign.

One of the key questions they address is deciding to apply for credit. How can you consider your needs and options? The following is an excerpt from their handout:

First, look at improving your cash flow
Can your problem be solved by improving your cash flow without getting a loan? For example, can you get more cash flow by improving the efficiency of your collections (in other words, how fast your customers pay you)? Or could you switch to a just-in-time inventory system so that your money isn’t tied up in inventory that’s not needed now?

Next, study your financial situation
In addition to reports that capture what happened in the past, you need to create reports that represent your best-guess of future results. One key example is a cash flow projection. If you approach a bank to borrow money, they will probably want to see your cash flow projection and your business plan.

Consider the risks of taking on debt
Remember, the lender will probably ask you to sign a personal guarantee (even if you’re an LLC or other type of corporation). If you are unable to repay the loan, there will be negative consequences for your business and for your own personal credit.

OBDC is a valued financial partner for our business clients. We can help you decide whether you’re ready to apply for another loan through our non-profit or through our bank partners.

Inner City Advisors

OBDC is pleased to announce the 4th Annual Business Reception & Benefit Auction of our long-time community partner, Inner City Advisors. We hope that you will join us in celebrating their success and the success of their advising clients, who include many OBDC loan recipients.

Inner City Advisors
Cordially invites you to its
4th Annual Business Reception & Benefit Auction
Thursday, November 17th, 2005
6:00 p.m. – 9:00 p.m.

The Rotunda Building
300 Frank H. Ogawa Plaza
Oakland, CA
 
Join us for wonderful camaraderie, delicious food, lively entertainment, and a fantastic silent and live auction, Highlighting ICA Clients and Local Entrepreneurs

Community Economic Development Recognitions
Frank Tucker, President
Tucker Technology, Inc.
 
And
 
Reed Smith LLP
 
 
Individual tickets ($40).  To register or for sponsorship information,
Call: (510) 271-0142
 
 
Thanks to Our Generous Sponsors*
Chevron, Wells Fargo, Deloitte, Reed Smith, San Francisco Business Times

OBDC has partnered with the Small Business Technology Institute to offer our clients and partners discounted admission to an all-day practical seminar on how to improve your business using technology. This seminar will take place NEXT WEDNESDAY and seats are limited.

The Small Business Technology Institute  -  a non-profit institution  -  is inviting your small business to attend "The World of Difference" Conference in San Francisco on October 26, 8AM to 6PM at the Grand Hyatt Hotel, 345 Stockton Street - for only $20 ($40 at the door) including breakfast and lunch – and a good change to win an iPOD!

For more information and to register now visit http://www.theworldofdifference.org/sf20  ---  Limited seating available on a first come, first serve basis.

Small business owners, managers and staff can obtain a comprehensive understanding of how information technology can help boost revenue, profits and lifestyle. Through five full-immersion training modules you will be able to obtain clear ideas on how information technology can allow you to improve:

- Front and back-office productivity
- Marketing, Sales and Business Development
- Operations, Inventory Management, Collaboration -
- Financial Management
- General Management and Executive Decision Making 
  
Two interchangeable tracks - basic and advanced - will allow you to obtain per each topic the level of training that best matches the knowledge you need to take your business to the next level. You will be able to attend each session in the track that best suits your goals. After the registration, use our Technology Adoption Index tool to decide what track is right for you in each topic.

Small Business Technology Institute
Tel. 408.494.0212