Trustee: Coachella Valley Small Business Development Center
Palm Springs, CA
Why are you interested in becoming a Trustee?
The Coachella Valley Small Business Center (CVSBDC) provides expert one-on-one consulting and advising services, effective entrepreneur education, and access to capital for small business owners and entrepreneurs in the Coachella Valley. Along with our host, The Coachella Valley Economic Partnership (CVEP), we are committed to ensuring the economic viability of the region by guiding businesses to create and retain jobs, gain access to business capital as well as advocate for the small business community.
What is the mission of your organization?
The Coachella Valley Small Business Development Center provides practical assistance and quality services to small businesses. Through the administration of one-on-one consulting, business education, and supporting services, our clients can stabilize and grow their business, and contribute to the economic prosperity of the community.
In the past, how effective have you been in achieving this mission?
Since January 2012, the CVSBDC has played a key role in securing $8.25 million in direct capital/investment to local small business. In addition, we've retained over 100 jobs and are in process of assisting local companies create an additional 250 new jobs. Through our monthly Fireside Chats, we provide a forum of education for local business owners and entrepreneurs to network and exchange ideas in the effective and efficient operation of their companies.
Do you belong to any organizational networks -- nationally, regionally, or locally? If yes, please list.
*Coachella Valley Economic Partnership (www.cvep.com) *Coachella Valley Innovation HUB (www.cvihub.com) *U.S. Small Business Administration (www.sba.gov) *California SBDC (www.leadsbdc.org) *College of the Desert (www.collegeofthedesert.edu) *Inland Empire Center for Entrepreneurship (iece.csusb.edu) *Desert Contractors Association (www.yourdca.org)
How will you decide who to endorse as a borrower? What due diligence will you conduct?
Our Managing Director, Ezekiel Bonillas, is a former commercial lender and underwriter. Every client that is in need of funding is scrubbed through our process to ensure individuals and companies that are responsible, effective, and disciplined to receive our endorsement. We run through the process of checking an entrepreneurs industry background, personal and business credit history, debt-to-income ratios, financial projections and business plans. Only those that are committed to going through our endorsement process and have a solid business/industry background, solid character (credit history) and a feasible business model are endorsed.
How do you plan to support the borrower, both before and after the loan is disbursed?
Prior to loan disbursement we'll test the borrowers’ business assumptions and model. We'll review their financial projections and ability to payback a loan. We'll work with their business plan and set realistic milestones. Once loan is disbursed, we're committed to checking in with clients on a bi-weekly basis to compare their progress to milestones. We'll advise on a regular basis so they are on target to meet or exceed financial expectations.
How will you help us ensure that the loans you endorse have a significant and positive social impact?
We work with entrepreneurs that are committed to create a viable business and sustainable business model. It is our goal to work with clients that have a strong desire and passion for their business and successful growth. We are committed to endorsing entrepreneurs that grow companies so they can create jobs and have a positive impact on our community.
About Coachella Valley Small Business Development Center
- Trustee Type:
- Public-Private Partnership, Non-profit
- Paused Tier trustee
- On Zip Since:
- Sep 24, 2012
- Loans Endorsed:
- Total Value:
- Paying on Time:
- Paying Back Late:
- Repaid in Full:
- Not enough data
- Not enough data
- Repayment Rate:
- Not enough data