Sacramento, CA – Today, the California Entrepreneurship Task Force (ETF), with the support of the Office of the Small Business Advocate (CalOSBA) at the Governor’s Office of Business and Economic Development (GO-Biz), hosted a rapid response session entitled “Access to Capital: Alternative Sources,” which featured leaders from the CDFI and venture capital space discussing how small businesses and startups can access capital during COVID-19.
Small business participants remained focused in their questions on the federal Paycheck Protection Program (PPP). This afternoon, the President signed the Paycheck Protection Program and Health Care Enhancement Act into law. The bill includes $310 billion for the PPP created by the CARES Act, which was passed late last month. The bill also provides $60 billion in disaster loans and grants from the Small Business Administration.
Isabel Guzman, Director of the CalOSBA and State Government Lead of the ETF shared a call to action: “Small businesses must continue to push forward. The tenacity of our small businesses is what helps propel our state economy. Today’s federal announcement is a call to action and our small businesses must be prepared to act swiftly. Some lenders including fin-techs, nonprofits, banks and credit unions, are adding capacity to the system and are opening up applications. Now is the time for California’s small businesses to get PPP-ready and apply.”
Find and contact a lender today by clicking here.
To watch today’s session, click here. The session featured the following individuals helping to lead COVID-19 response for California entrepreneurs:
- Isabel Guzman, Director of the CalOSBA and State Government Lead of the ETF
- Dilawar Syed, Co-chair of the ETF, CEO of Lumiata
- Carmen Palafox, member of the ETF, Partner at MiLA Capital
- Charles Hudson, member of the ETF, Managing partner at Precursor Ventures
- Bulbul Gupta, President & CEO of Pacific Community Ventures
The rapid response sessions for California small businesses and entrepreneurs occur every Friday alternating in Spanish and English. To learn more about the next sessions, click here.
The Governor’s Office of Business and Economic Development (GO-Biz) serves as the State of California’s leader for job growth and economic development efforts. GO-Biz offers a range of services to business owners including: attraction, retention and expansion services, site selection, permit streamlining, clearing of regulatory hurdles, small business assistance, international trade development, assistance with state government, and much more. For more information visit the GO-Biz website.
The Office of the Small Business Advocate (CalOSBA) helps support economic growth and innovation by working to ensure that California’s small businesses and entrepreneurs have the information, tools and resources they need to plan, launch, manage and grow their businesses successfully and be resilient. The CalOSBA serves to elevate their voices in state government and to advocate on their behalf to help ensure all aspiring and current small business owners and entrepreneurs are provided with the opportunity to access capital, access markets, and connect to the networks and resources they need to succeed. For more information visit the website.
Assistant Deputy Director of Communications
Phone: (916) 204-2107