With grant funding awarded by Kaiser Permanente and the National Association for Latino Community Asset Builders (NALCAB), Women’s Economic Ventures (WEV) has announced the Forgivable Business Loan & Coaching Program recipients. Five Ventura County small business owners will each receive no-cost technical assistance and training, as well as $10,000 in forgivable funding, to support their recovery and growth. Program information on the WEV website.
Recipients of WEV’s Forgivable Business Loan & Coaching Program are:
- Luisa Arzate, Marfer Ink (Printing & Marketing, Oxnard)
- Blanca Hoffmeier, SWPPP CAL (Stormwater Management, Thousand Oaks)
- Rochida McClure, McClure Counseling & Consulting (Behavioral Health Therapist, Ventura)
- Arturo and Julio Palencia, Mexa Brands, LLC (Importer & Distributor, Ventura)
- Lillie Parker, WaterLillie Salon (Hair Salon, Ventura)
Research performed in California earlier this year by Small Business Majority found that 32% of minority business owners were denied a loan, compared to 17% of white business owners. Without access to capital, many underserved small business owners are at a higher risk of not recovering from the pandemic, impacting the future and vitality of our local communities.
“This program is the ideal combination of providing essential business capital and coaching for local women and minority entrepreneurs,” said WEV’s Director of Lending Marni Brook. “Add in the support of the WEV community, and now we have a recipe that empowers local business owners to grow, thrive and build for the future.”
WEV plans to launch an expanded version of the Forgivable Business Loan & Coaching Program to include both Santa Barbara and Ventura County small business owners.
Women’s Economic Ventures is dedicated to creating an equitable and just society through the economic empowerment of women. WEV is a business resource network for anyone looking to start a business, grow a local business, or improve their business skills.