Virtual Small Business Resource Workshop Hosted by Assemblyman Cooley

uh thank you we're live sir you may begin good morning and welcome to assemblyman ken cooley small business resource workshop we're all happy to have you here uh we do have a packed agenda today at the end of the program for questions uh you can put them in the chat and we will see if we can uh address those by the end of the program this is an event to share resources for small businesses and each presentation will be available on assemblymember cooley's website each presenter will provide their contact information for your follow-up questions and if there are any issues that we didn't address or that you need questions to give us a call at our office at 916-464-1910 so without further ado i want to introduce assemblymember ken cooley well good morning everybody and i thank you for joining this you know business is an interesting thing we jump in we try to make a difference with a service or a product um and it's in the doing that you are successful and here we are in another meeting um but i want to just talk a little bit about the role of this meeting we have outstanding resource people today and i actually believe that there's a great business purpose in getting together like this and it's always been recognized i want to offer some thoughts and observations on why we learn um but uh here today i've just shuffled my paper and lost my agenda so i want to acknowledge we're going to hear today from the california capital financial corporation deb muramoto she's going to offer some thoughts on financing and revenue carrie ellenwood the small business association sacramento district on sba programs sunita maharaja of norcal's spdc finance center she is its director and that's a small business development center with support for businesses so obviously another very important perspective and a source of ideas and inspiration lucious davis iii of the california state franchise tax board is here to talk about a resource that ftb offers us and of course that's uh right on the edge of the uh eighth assembly district over there um at mayhew in folsom boulevard uh just outside the city limits of range of cordova and then we have june livingston of the sacramento business environmental resource center so we have an outstanding array of people to share and talk so i sort of want to just reflect a little bit on why a session like this makes sense and in my career as a lawyer i worked 18 years for a company that just about a year ago a hundred years ago a century ago was simply the idea that someone had an approach to business that somebody had that was actually different than what was going on in their era and everywhere they turned they talked to people involved in the status quo and they were told that their idea would never work and this individual persisted they believed in their idea they a famous quote from that stage in this company's life was we we never ridiculed any wild ideas because out of wild ideas we had often formed the most workable and practicable plans the upshot is that that business in seven years by 1927 was the biggest business in its line of work in the nation and you know them today by the name they formed in those days which is state farm insurance so the founder of state farm insurance had a very interesting perspective on struggling with one's business trying to make headway trying to solve problems he said a person has to live and sleep with their business if they want to make a go of it they have to take it home with them at night so they can lie there in the darkness and figure out how to improve it in fact you have to become sort of a nut about it so you become so enthused that you'll bore your friends talking about it you have to be a one-man crusade i do think in this time of pandemic and trying to move past this time of pandemic as finally we we are getting millions of americans hundreds of millions already and moving through vaccinated so that they are safe and safer for those around them we are working through it so it is the time in which businesses really need to be struggling with how do i make a go of it how am i going to get through this horrific time and um you know that's the problem we all face someone who's very influential my career a business thinker peter drucker says don't try to innovate for the future innovate for the present innovate for the here and now and that's really the reason we have this session today um you know harvey firestone he he was a big tire guy in the in the 1920s he he made the observation that thought rather than money is actually real business capital the real way you grow your business is by having a good plan having thought out a plan having to understand where you're going to go and how you are going to use your capital and other resources so today is really a day devoted to thought um and uh it's it's one of those things in life that is also true you all know your businesses you know what you provide you know what your competitors are you have a sense of the problems your customers have faced in this time you have a sense of how you can help them the opportunities they present how you want to get them in your door and uh chuck schwab the guy who did a lot of caught investing to a lot of people said wisely keeping ahead of conditions is one of the secrets of business this trailer seldom goes far so again today learning thinking figuring out what are the tools in the toolkit that are available to you what are the what are the ways they might help you get ahead of the circumstance you're in and gain a a competitive opportunity so i am very honored to convene this group of outstanding resource people today um i feel it is very timely you know these are not ordinary business times these have been the worst of business times and always in life it is people who are enterprising and dogged in the face of difficulty that surmount obstacles and not just for themselves but actually in times like these you become very important leaders pathfinders showing other people that we can climb out of this giving them hope and um so really this is a time to be striving in business and and saying to other people by your deeds this is the way to go follow me so i'm very delighted to have you here today uh it's an honor to convene a outstanding group of resource people and i surely hope that because you are here today that in some way shape or form a wild idea will occur to you that you feel offers you a way to stay ahead of conditions to improve your prospects the last quote i will offer someone long ago said you know companies don't need more risk takers they need people who know how to de-risk difficult conditions and i think if we are in difficult conditions that no other generations of americans living today have actually faced ever before and today is all about how you de-risk moving forward how you get a tool that can help you and uh i wish you every inspired thought today a little wild some wild ideas might emerge for how uh what you hear today might get integrated into your plans and become that that thought which becomes the most important business capital for the next 12 months so with that i will conclude uh thank you very much and i turn it back to you brian thank you for those points congressman ami bera his office matt chicago the district director go ahead and take it away man thank you brian good morning i'd like to first of all say thank you so much to assemblyman ken cooley for for first of all inviting our office but also for those incredible remarks we are here today as well to help small business and i just want to go into some of the federal programs that have passed recently you may have heard about the american recovery plan act and that was signed by president biden passed by the house of representatives in the senate and is going to come and bring real solutions and real resources into the hands of everyday americans including small business owners now we have talked about the things that the american uh excuse me the american rescue plan offers we're going to get vaccines and arms we are going to help end this pandemic and probably provide a way through that'll make sense with science and health-based facts but also what this plan does is give resources out to small business owners specifically it re invigorates and adds more money to the paycheck protection program this is a program to the sba utilizing many different lenders around the local area here in order to keep people on that payroll program as well the economic injury disaster loans idle or also back out some folks may not have been allocated the full ten thousand dollar amounts and so right now the treasury department is doing that as well and they're going to determine with the help of the sba who should be eligible for this amount and then what small businesses out there what folks out there that are trying to hold on to their dream may be eligible for more funding and so that's what was in this recently passed law but that's not it also what's in there as well was money to help provide a community navigator and get these resources out to small businesses how can we help through the sba and the small business development centers how can we help small businesses out there today utilize some of the programs as well as be prepared for some of the things that have been recently passed into law with that recently program as well was the shuttered venues operator grant so some of you out there that this may apply to the restaurant revitalization fund and that was something that the congressman fought for he held a round table with congressman blumenhour back in august fighting to get money and funds directly in the hand of our restaurant owners because we know we are fortunate to live in the farm to fork capital and farmers and agriculture and food is the one of the backbones of our region here many more things were inside this rescue plan as well as the economic impact payments also known as stimulus and a number of tax credits you may have seen recently that the united states federal government has extended their tax filing deadline to may 17th this allows time with some of these recent past tax credits for you to realize what you may be eligible for what your business might be eligible for and then uh apply for those on time and i will also end with the last thing as the affordable care act covered california here and here in our great state has also been extended for a special enrollment period these are people we need to ensure that they keep on health care and so the may 15th is the new deadline for covered california i will close with again thanking assemblyman ken cooley and his staff for inviting our office here and let you know that we are a resource and we are here to help folks at barra.house.gov thank you brian thanks matt for being here and uh thanks to the assemblyman for the congressman for participating uh next up we have from the california capital financial corporation uh suey lee sophia kanan mike schremer and may masunaga go ahead and take it away oh good morning i apologize i was unused um so my name is sophia kanan and i am the women's business center director at california capital um and i am joined today by su-yi lee i believe she may be experiencing some technical difficulties with her camera but her audio is working just fine um and so with that do i have screen sharing abilities or should i um or do you all use or do you all have my powerpoint you you should know i'm sure awesome okay in one moment okay can you all see my slide from the beginning yes awesome thank you okay so as i said my name is sophia canan and i am the director for the women's business center at california capital um california capital is a non-profit and we exist for the main purposes of small businesses california start our california capital started out about 40 years ago as an organization that provided capital to business owners that couldn't normally procure it from larger financial institutions or vfas or wells fargo's places of that sort and then over the years we kind of learned it's not enough to just hand out loans we need to provide the education we need to do the hand holding and provide all of the technical assistance that's needed to help small businesses get to where they need to go and so over the years california capital has grown into several programs and one of them as i mentioned is the women's business center and the women's business center which is open to anyone and everyone looking to start a business is focused on training and one-on-one counseling all of our services are of no cost i will talk a little bit more about that in just a little bit um we also have our procurement technical assistance center so if you're interested in government contracting we have expert counselors on site that can assist you and then we also have our lending program which is where the organization's foundation really really began and i will provide a little bit more information there we're also a business information center so we assist uh business owners with with training their employees as well as hiring and retaining their employees throughout their business journey and we offer business success forums in multiple languages in different communities we offer business planning tools through dream builder which i'll talk a little bit about um as well as an online marketplace an online ecommerce marketplace we realize that not a lot of businesses have brick and mortars or the opportunity to sell their business products or services in a storefront or in person and so we also have resources for businesses to sell their products online so as i mentioned um the women's business center offers training one-on-one counseling we also offer certification courses such as human resources and bookkeeping and the women's business center is partially funded by the sba we do receive federal funding in order to operate the women's business center and provide the training in the counseling that we do we also are partially funded by the state through gopis and we're also partially funded through the city of sacramento and through all of these sources of funding that we receive we're able to build programs for startups and growing our existing businesses we are able to to build programs that are hands-on hands-on training programs um such as the stone products training which i'd love for so you to maybe talk a little bit about just to give you an idea of how in-depth we really get with our business owners sophia do you want me to chime in right now yes please okay great hi everybody my name is and i apologize that my camera is not working and a little bit about the sun products training it is actually a result of the pandemic that hit our country uh the beginning of last year and we found that there is a need to have to make personal protective equipment and through our collaboration with one of our small business clients um a g-fashion institute we actually started um to host the zone products training which is a hybrid of in-person uh lab sessions um and a combination of online training of course we're able to do the uh the online training in person and so we had to pivot to conducting the classroom learning uh online and after that they were to meet uh in a lab environment to learn um you know the practicals of sewing uh cutting as well as uh pattern making and of course this this was all done uh you know with the safety protocol in mind and first cohort was actually run in september of last year and we had received a huge interest from the ethnic communities that we outreached the program to and so we've had a total of seven participants who graduated from the program there was one when one women from the hispanic community three from the hmong community and two from the middle eastern community and out of that cohort of trainees we're actually training them uh to be the trainers in their own respective community when they become certified trainer uh later on and so we're actually running the second cohort of training right now and we have bigger plans for it and the whole idea of training them in the art of sewing is so that they can get plugged into a network of contractors where they're able to sew at home and get paid for their labor through a contracting program sophia thank you please thank you so and that's just an idea that the hands-on training that we're able to provide and we've we were able to provide just through the pandemic in a very safe way but we offer all of our services are currently remote we offer an array of trainings all the way from marketing tax preparation business planning business marketing um you name it we have it on our calendar uh one-on-one counseling that we offer we have four counselors in our office that work with with business owners and just to give you a sense of the volume of work that we do and even though we are remote we see about 3 200 people come through our doors every year and that has increased this year even more so with well last year now that we're in 2021 with the pandemic and even though we're working remote we have not stopped our counselors are still working one-on-one with business counselors our website was with small business owners we are still offering webinars training certification programs and we realize that business owners now more than ever really need that assistance they need to know that we're here to help we are a phone call away should you need to have a question that's exactly what we're here for and again all of our services are of no cost and so i really encourage everyone to take advantage of those resources and um if you don't remember anything that we mentioned today just remember how to contact us that's always what i say throughout the presentation that's just a little bit about the women's business center i can probably talk about it all day um but moving on um as i mentioned before we do have our procurement technical assistance center at california capital and so we have counselors who are also working remote but are experts in their field in terms of government contracting we have counselors who were formerly in the military um who are who specialize in veteran owned contracts um women owned contracts we have a bid matching system where we can notify business owners when a bid becomes available that might serve them well and then we walk them through them to that process we help them with responding to rfps making sure that they're meeting the requirements within the contract as they're there they're going through it and so again it's a really um it's a really designed to to hand hold in a way that is comfortable for the business owner and again all of these services are of no cost so please that government contracting is something that you might be interested in either now or later on down the line i encourage you to attend a workshop speak to a counselor just get that dialogue going and start the conversation and then as i mentioned before um we are so californian capitals financial development corporation is a cdfi so what that means is we do have the ability to provide direct lending from us to you no bank involved through our micro lending program um and so we're able to provide loans to small business owners in the amount of as low as 500 to 150 000 and there's we our lending program also has to have counselors there that can walk you through the process if they find that you might need a little bit more assistance in terms of you know getting your financial projections prepared um or just becoming loan ready in some type of way they may bring you back to the women's business center and say hey um you know can can you can you work with the counselor in the women's business center to start preparing your financial projections um and we would definitely do that california capital really operates as a continuum of services and so while you may be working with a lending program because you need a loan you may also be a women's business center client because we're helping you to become loan ready in that way there's a lot of information about you know what's required and the qualifications in terms of lending programs so i won't get into it too much but if you are interested in looking into our lending program um please do please reach out to us i will also add our contact information so that you can ask a little bit more questions and get more information more detailed information about the lending program we are also we also administer the state loan guarantee program through ibank so we work with community banks to try to secure larger loans for you and what we do is we come in and we we secure the loan by uh guaranteeing a part of the the loan up to 80 percent okay and then uh bilingual business success forums these are something that we do i would say quarterly a little bit less now that we have been working remote but in the past and what we're starting to bring back are these large business success forums that are community-based and they are designed in in a panel style where we discuss different topics starting from taxes business licensing business resources access to capital and we provide them in the languages that you see here uh if we don't have speakers that speak those languages then we will offer translation services and we will provide a headset at the door um for anyone that may need it and so we try to make our trainings and our services and our resources as accessible as possible whether that be in person or as a or or online so because we haven't been able to hold these forums within communities this past year this past year what we have done is we've held some of these forums online and we've recorded some of the trainings that we've done and added them to our website and then translated them to about five different languages we haven't been able to translate to all the languages that you see here but we have reached a majority of them so that way we are still able to provide services to folks that that don't speak english um and so that is your entrepreneurial education program and what i can do or see if you don't mind maybe you can add the link from the website to the chat in case anybody might be interested in checking that out sure um awesome thank you the source that i wanted to spend a couple minutes on very quickly is um dream builder and so i realized that as a startup or even as an existing business you may come across a time when you need a business plan dreambuilder is accessible through our website uh city if you wouldn't mind also adding the links while you're on the website that would be great um is a free online uh platform where you can build your business plan it through by going through 13 different modules so it requires you to think about your business in 13 different ways by the end of the the 13th module it formulates your business plan for you and it is a cloud-based program you can log in and out and edit your business plan whenever you need to i encourage you to find a business counselor or a mentor or someone that you can work with uh to to edit and refine your business plan but this is a really really great starting tool um for for anybody looking to to information dump to think a little bit about their business or just just have a starting plan dreambuilder is a really really awesome tool this is what the login page looks like just so that you're familiar with it and when you start clicking around it is accessible through our website through ca capital.org um and then obviously we'll add the link into the chat there um and just click that link sign up sign up with your name and email address and that is it and get to work and like i said we've had so many people graduate from the dream builder program and they're constantly using this program to edit and refine their their their business plan and it's been working really well over the years and the last one of the last tools i want to talk to you about is the e-commerce marketplace that we have on our website um and so as i mentioned we realized that it's really hard to get the information out other than social media when it comes to your business so what we've done is we've created an online marketplace where you can create a profile and share your business services and um products here with everyone else that has signed up this is a platform that has i believe over 500 businesses signed up it is based it has it's listed here by categories um it's an opportunity for you to share a link out if you need to house your business information somewhere other than social media if you need um to let people know where to find you this is a great place to do that other than social media it's another marketing tool it's another way to put your name out there and so if you're interested oops i just moved my i apologize my mouth if you're interested it is also free to sign up the only caveat here is that it is only available to women right now and we're hoping to open up the platform a little bit more so that it includes all businesses but for now it is a woman based platform okay and then if you would like to learn more about our products or and services not products with services um if you'd like to speak to a counselor you would need to just sign up as a client this slide just tells you right here to just go uh that arrow should be a little bit further down to california capital women's business center where you would sign up to become a client there's that little burgundy button right there uh this is what you'll there this is where it'll take you it'll ask you to fill out some information about who you are um what your what your business information is about if you have a business if you've started one um i'm just these are just slides so that if you do go through the process it looks pretty familiar it asks you for some information at the bottom just so that when you are applying to a counselor the counselor can do their homework get to know you a little bit better and then come to their meeting prepared if one-on-one counseling is something that you're looking to get into and that's the last one and that is it um again thank you so much for your time thank you for inviting us uh to present uh assigned women ken cooley uh brian marianne really appreciate you setting this all up and thank you to my team for being here i really appreciate it brian i will pass it on back to you and stop sharing my stream thank you sophia you can see information is very helpful and i hope people are able to use it who are watching next up we have from the small business administration carrie ellenwood she's from the district office and she will share information on the sba's program called services and information on covet 19 resources available to small businesses throughout the sacramento region kerry good morning i'm happy to join you here today excuse me i'm carrie ellenwood i'm the deputy district director at the u.s small business administration's sacramento district office and we are all working remotely and this is very good opportunity for me to share some good news with you that we learned yesterday they are going to increase the economic injury disaster loan period from 6 months to 24 months and what that means for small businesses is that they will be able to apply up to 500 000 if you already have received an economic injury disaster loan sba starting april 6 will be reaching out to you to let you know that there will be an opportunity to apply for additional funds you do not need to reapply again so please wait for that email coming from the small business administration thank you to congress congressman ami bera's office to ken assemblyman can cooley for allowing me to join you here today and for marianne helping me get everything connected correctly we at the sacramento district serve 22 northeastern interior counties of california there's 68 districts across the country just like ours ready to work with our small business communities through our resource partners at the women's business center as well as the small business development centers and the small business development finance center there are quite a few resources out there for you on an ongoing basis anywhere from capital to grow your business assistance with one-on-one advice from our resource partners and also you have information on how to contract with the federal government we are going to have marianne share some slides that will give you that information as well probably on top most of our mind at this point is what's going on with the covet 19 resources this pandemic has had our small business community very hard and we're very glad that more recesses resources are being allocated by our congress to small businesses as of march 21st there have been over 8 million in paycheck 8 million paycheck protection loans made to small businesses for over 718 billion dollars in california we have received 324 000 over loans for 26 billion dollars the average loan size is 63 000 dollars so we are with the new legislation able to get and ensure that the smallest most challenged businesses are receiving these funds i want to give a big shout out to our lending partners the banks and credit unions and online lenders that have assisted in bringing those funds available to small businesses with the paycheck protection program we learned yesterday that the senate and the house have approved an extension to that program that's a very very good piece of news for small businesses because it's slated to end on march 31st which is right around the corner once the pres president signs that into law we will have that extended through may 31st so our lenders will be able to continue lending to small businesses there are still funds available in this program and i encourage you if you're a small business and have not yet applied for the paycheck protection loan program please reach out to your bank your credit union one of the online lenders and look into this it's a it's a wonderful program for you it will help you keep your business open and your employees employed the best way to find out who is working with this program is to go to sba.gov

ppp and there you will find something called lender match when you click on that lender match link you're going to give them information about where you're located how much you're looking for in a loan and that will then bring you to a list of lenders that are participating in the paycheck protection program so please do take a minute and go there if you have not already applied if you applied for the paycheck protection program in the first round back in 2020 before august 8th you're eligible for a second round loan if you've had a 25 reduction in your business revenues over a comparable quarter from 2019 to 2020 and you're in a low to moderate income area you will be able to apply for an additional funds in that paycheck protection program this is a another opportunity for your small business to continue keeping your employees on board if you have questions about these programs please go to your business banker and they can help you determine if you're eligible and if that program is going to work for you i also want to encourage you to look on our website at sba.gov for information on the shuttered venue operator grant that will open on april 8th so we've got two key dates here in april the sixth is when you will be reached out from sba about your economic injury disaster loan for an increase that may be available to you for up to five hundred thousand dollars those emails will be going out starting on april 6th on april 8th is when the shuttered venue operator grant application will be opening on our website at sba.gov that's the best place to go for the most current information everything i'm sharing with you today is accurate as of today march 26th and i'm sure you're all aware this program and these programs are changing fairly frequently so please do go to our website at sba.gov to find out more information about what's available for your small business and i would be remiss if i did not mention that this is women's history month we've had some great programs already published from sba for women's businesses to share their successes with you and we have another event coming up on tuesday march 30th from 10 a.m to 11 30

pacific standard time our regional district directors mine included heather lucci is going to join some other directors in the region and speak about the great opportunities that you have to utilize resources from the small business administration and everyone out there these are prepaid tax dollars that work for you they won't cost you anything more than you've already invested so please do reach out to our website i'm going to include the link to that webinar next week in the in the the chat here in a minute and also encourage you to reach out to our women's business center our small business development centers we also have a score chapter with resources there again at no cost to help you start your business grow your business expand your business and also our recovery opportunities there through our paycheck protection our idle loan our shuttered venue program i'd like to thank again our assemblyman ken cooley for allowing me to share this information with you today i hope you have a great day it looks like it's going to be beautiful out here in the sacramento region i'd like to turn it back over thank you yeah thank you carrie thanks gary that's great information uh next up from the norcow small business development center we have suny de maharaja the sbdc offers support for businesses with private no cost management consulting assistance to access capital and loan protection excuse me preparation for the current focus on covered 19 disaster loans sunita good morning everyone thank you so much thank you assemblyman ken cooley mary ann and team for letting me be here today i am going to start my presentation and it will be available to you as well so just a little bit about um the northern california sbdc i'm just going to go over our services what we have to offer to you there are so many providers out there which is such a blessing to all businesses there's so many people out there that are willing to help at the northern california sbdc i work for the finance center and i am the director there here's just a little bit about northern california what our mission statement is providing guidance for business growth vibrant local economies making a difference with our small businesses every single one that we touched highest quality of service to our clients and community doing what is right and treating people right responsive and open to change quick to respond to market needs and those latter little points there we really were going we really were this last year trying to figure out how do we help as many clients as that we need to the small businesses and the webinars we have been able to do such a great job and reach so many people and i'll provide you with some of those numbers a little bit later but a brief history about the sbdc so president carter signed us in as a program in july 1980 so this year we turned 41 we've been able to help so many small businesses um you know create businesses expand we've also you know help businesses sell their businesses which is also a great thing because you know this is something that you've done for so many years and to be able to sell it and make a profit and make sure that that business is taken care of is such a wonderful thing because it is part of your family so in 1991 sbdc coverage and we have coverage in all 50 states uh california sbdc then divided into six different uh districts programs and humboldt now has is our lead host for many of our services here in northern california what are the svdc services that we offer that might be different or similar to the other ta providers which are also great providers so our core is private no cost management consulting access to capital loan preparation that is where my team comes into play a lot a lot of centers have their own finance people too but we definitely at the finance center sbdc finance center focus on access to capital a startup assistance technology commercialization so that means that you're taking your tech company from just the startup phase to actually putting it out to there to the public complimentary workshops and trainings large educational events partner referrals part of the partner referrals is it might be a little bit difficult right now to find a lender that is actually funding ppp deals i know that the larger banks right now are kind of shut down with taking deals but there are smaller lenders that are able to do that still so please reach out to us i will give you our information a little bit later if you are stuck and you're just not sure how to find a lender if you can't find a lender at sba.gov ppp we are definitely here to help you and walk you through that process we are also funded by sba and the state of california and that's how we are able to provide you the no no cost consulting access to capital and also that preparation and also workshops and trainings here's some of the counseling that we do it's quite a bit of counseling so business accounting budget business plans buy and sell a business cash flow management as a business owner you know cash flow and for me and our team that is one of the number one things of course knowing your business how to run your business you know is there and that is the top thing but the second is cash flow management we help you go through your profit and loss statements and figure out ways to make your cash flow better are you paying too much for a certain thing you know reevaluating everything on a yearly or quarterly basis is the way to go um you may have internet at your uh at your place of business you're paying away too much you can we can renegotiate that or maybe you have tv you don't really need uh enter you know you don't need cable anymore you can use the internet there's different ways that are small but at the end of the year it's very impactful of the money that you can save so we also have an e-commerce group that helps with that they can help you from the start to the finish create that for you engineering r d financial capital franchising government contracting human resource employee management international trade legal issues managing businesses a marketing and sales startup assistance and tax planning so these are some of the things that we can definitely help you with i want to give you some numbers that we were able to assist clients with last year so we counseled 19 549 businesses which is pretty which is a great feat especially for last year our total counseling hours were over 7 600 hours 76 000 hours and the reason is is because ppp idle and all of these other disaster loans came out last year and we had to walk people through this we were learning um as the information was coming out we've said this many times sba and ourselves when we're on these group these group meetings we are we were building the plane as we were flying it because new information out was coming out daily um with that we will be we're able to train over 41 000 um clients a number of training we we had over 1000 trainings last year we had 322 new business starts and that's pretty incredible considering what was going on last year a lot of those were e-commerce or a lot of these people were pivoting the businesses weren't quite working out so they were pivoting into other businesses you know maybe making the ppes and things like that jobs created we were able to create help create 4698 in our region jobs supported over 95 000 jobs which is you know gives me goosebumps to be able to say that because we know what happened last year and what is continuing to happen happen this year we were able to help increase sales over 190 000 um you know 193 million dollars capital infusion almost 500 million dollars in capital infusion and that did include the ppp and the idol and grants and things like that but we were able to assist people walk them through the application process and get them to the end of the line nationally we were able to assist with creating over 91 000 jobs new jobs and a new job was created every 5.7 million minutes with the help of the sbdc national impact on growth capital we were able to help get uh small business six million six billion dollars in financing i mean that's that's pretty that that's incredible you just think about it six billion dollars of financing just our small sbdc group was able to uh help people get over a hundred thousand in new capital secured every eight point eight minutes spdc clients generate over seven billion in sales over a hundred thousand in sales every seven minutes and forty six point three three dollars in new capital for every one dollar of sbdc program expense i think that is a great return on the money that has been um given to us to be able to help small businesses so some a little bit about the finance center so what is the benefit to to partner with us to help you package up your loans or to help you go through this whole process of disaster loans or grants so what we do is we want to help expand access to capital uh you know we access to capital we have the expertise we talked to lenders every day most of us were ex-lenders i was a mortgage underwriter and also a business uh loan underwriter for many many years in management and things so i understand what the lenders are looking for so what it is that they need to get a deal done to the finish line we help package financials for sba conventional and alternative loans and if you're not sure what that means we do go into more extensive information on our one-on-one uh advising assist with business plans projections um you know business statements profit and loss statements personal financial statements and these these these all these things that i'm i'm saying may be foreign to you but that's okay we'll walk you through it and we'll help you understand exactly what that means work with lenders on declines through deals and startups that don't qualify so for some reason maybe your credit score isn't quite where it needs to be for for lenders or for lending we will help you to increase your credit score we will give you the tips and tricks on how to do that we also have webinars that teach you how to do that and it's in our library and they can be located at norcalsbdc.org and these are some information and it is still at no cost you just have to sign in and then you can watch these videos so no cost loan broker service and i say that because we do act like a loan broker so one of the lenders decides that you know might not be some they're fit then we ask other lenders um you know do you think that this is something that you would be able to stand behind and fund and usually brokers charge between one and three percent or more on your loan package we don't do that it is completely free and we walk you through the process so i wanted to go over some of the products and grants and loans that are out there right now this is information that everybody is calling us for they're going on our website they're emailing us so i wanted to make sure that i provided this to you today so the california relief grant rounds one through three is closed but round five is now open it opened up yesterday so you can go and apply there at care ca relief grant.com

and the is right here ca really grant.com i will also put this information in the chat once i am done with my presentation so uh round five is is open now ryan round six is still to be determined you can apply online from today the 25th through the 31st and then this round everyone should know by the i believe it was the fifth or the sixth if you've already applied in rounds one two and three or rounds one and two you do not need to apply again if you're on the wait list you do not need to apply again please do not apply again because it does end up slowing down their systems and your uh and the approval process uh communication regarding the grant should go through industry if you haven't received an email through if you're in run rounds one and two please call them at 888-612-4370 email here is care relief grant lundistry.com but i believe that calling them it seems to be a better way for you to get information you may have to wait a little bit but you can also call a little earlier in the morning or later at night they are open from monday through friday from seven to seven so you may want to try maybe after six or at seven a.m or eight a.m um also on fridays it seems like they slow down a little bit and lendistry makes the decisions on this not us you do have to go through a partner but we are not the decision makers we do help you through the process of applying asking answer questions for you but we do not make the final decision on that some information in regards to the ppp versus the idol so now that you know hopefully the president will sign this into um the extension will be signed today or next week the ppp is forgivable um if the portion um that isn't forgiven it is a one percent fixed interest rate and it could be from two to five years and two to five years it depends on when you receive this uh this loan so now everyone is at five years but but if it was if you've received the loan before june 30th of last year then it could be a two-year loan use of funds 60 for payroll costs and 40 for mortgage interest rent and utility expenses also for ppe's and there's some other items that you can spend it on but majority of the people spend a hundred percent on it on payroll you can apply through an sva approved partner lender excuse me and there is no collateral required the idle uh loan now it's not forgivable at this point in time it is a 3.75 interest rate and for profit at 2.75 for non-profits it is a 30-year term the other thing is is that if you did get your loan today you have 18 months until your first payment period first payment starts so 18 months from now if you received your loan last year it is a 24 month so you don't have to start it will used to be 12 months from the day of funding but now it's been extended to 24 months for your first payment the other thing is is that interest does accrue so please note that that that is um that is what happens uh use of funds is for working capital inventory fixed up payments and normal business expenses you apply directly through sba so you'll apply at sba.gov loans over 25 000

secured by ucc filing and there is a hundred dollars deducted from loan proceeds a lot of people reach out to us and they're not quite sure why they're 100 short that is the reason why and the svog so the shuttered venue operators grant here's some information in regards to this like kerry was saying the application portal opens up april 8th you must be registered and signed up at sam.gov though so please if you're thinking that you're one of the ones that are eligible for this grant go there today and sign up because it does take some time so you don't want that to hold up your application process applicants must have been in business since february 29 2020 um and then um and you can only apply once so please make sure when you're applying that you have all your information correct you cannot go back and correct things like we like the california relief grant this is one and done so before you hit that submit button make sure that you are 200 percent correct and all the information provided we at the sbdc will help walk you through this we will have a webinar on the 7th and you can find that information at norcalsbdc.org applicants can now apply for ppp first and then the svog your ppp funds will just be subtracted from your svog funds applicants cannot receive f svog first and then the ppp funds can be used for specific expenses such as payroll rent utilities other costs and such eligibility performing arts events should be your principal business activity you can read through the other but if you your principal business is not performing arts events then you most likely will not qualify so please make sure that you're thinking of that first our webinars our webinars are coming up here um we just had one on wednesday and we go through all of this and more in depth so i will go through all of the um the new disaster loans grants or anything else that's out there anything that's changed we will answer questions we answered over 200 questions that on wednesday and with the help of carrie at sba and some other partners that we have we have an a capital access series that's coming up we also have the starter venue operators grant informational on april 7th we're going to teach you how to sign up and see if you are qualified so things to remember apply now for ppp1 and ppp2 if you don't have a lender yet you can't find a lender on sba.gov ppp please reach out to us sugar venue operators grant apply on the 8th you can now apply for ppp and svog other specialties that we have is our restaurant group our ad group our manufacturers group these are particular um you know focus groups here such as a finance center we have over uh 36 weeks we have over 18 full service centers and we serve 36 counties and we have 35 outreach locations these are some of our network hosts that we work with this is the local sbdc center's information you can get a hold of us at the finance center at financing simplified.com start if you're looking for your local center which most likely will be the um the sacramento office it is the you can find them at www.norcalspdc.org here is my information here i can be reached at loans at sbdc if you're looking for the restaurant group this is their information and other specialty programs these are some of the things that we are focused on in the future now and in the future international trade disaster assistance and also cyber security this is something that is a statewide um a program a push i thank you so much for being here thank you for letting me uh be here today with you and if you have any questions you can definitely place them in the chat or the q a i'm sorry brian i'm not sure how you're doing this but i will go ahead and stop sharing and move on thank you so much thanks anita uh at the end we'll address any questions did you want to say something okay moving on we have from the california state franchise tax board lucious who will speak on the resources available to small business and anyone thinking of starting a business in the various types of business classifications lucius take it away thank you and good morning my name is lucius davis and i am the small business liaison at the franchise tax board now uh notice that i set my name rather slowly lucious now the reason i do that is because my name is a little different sometimes a little hard to pronounce and i've done many many presentations and many interviews over my career and i've found that if i don't make sure that you know how to pronounce my name some very interesting variations that come about from it for example i've been called everything from licorice to loose shoes and luscious well actually that last one i don't quite mind that last one depending on who's saying it so like i said i am from the franchise tax board i can just tell you guys are so excited to see me right right i can feel this i feel it through the screen well if not that's understandable usually when i mention them from the franchise tax board the air gets sucked out of the room people start shutting down their computers and heading for the exits but i am here to tell you that we are not all the bearer of bad news specifically i am from the education outreach team and here uh today to talk about some of our small business resources and the different forms of business ownership that are available to the business community one of the most important decisions that you have to make as a small business owner is what form of business ownership will best fit your business needs or if you're a current business owner if your current form of ownership still fits your business needs we're going to be discussing not only some of our resources but also some of the more common forms of ownership such as sole proprietorships partnerships corporations and limited liability companies we have our handy-dandy little booklet here publication 1123 if you guys can see that if we were doing this in person i will be handing this booklet out this is one of our really really good informative resources it goes over some of the more common forms of ownership but also some of the less common more complicated forms of ownership as well uh it's a very handy-dandy little book we like to call this our little black book and as you can tell i'm very proud of it you can access this online at our website at ftb.ca.gov

in the upper right-hand corner there's a search box and you can type in forms of ownership publication 1123 a link will pop up and you'll be able to access the form there i highly highly highly recommend that you download this form and even print it out because it's a great reference to have if you have any questions about what your file requirements might be we also have our very very informative uh website at ftb.ca.gov as part of the education outreach team we know that our most informed clients are the ones that are the most compliant being informed is half the battle um and a great way to do that is to go to our website and take care and take advantage of not only the uh information that is there but also some of our many online services that are available to you we always recommend that you start here if you have any kind of questions or concerns about your final requirements about what tax forms to use when tax returns are due it is a great place to start when you need some more information we also recommend this is probably one of our best resources we always recommend that you sign up for a myftb account um having a myftb account gives you real online access to your tax account where you can see things like what tax years that you have filed and the ones that we've received uh if you have a balance that is due what payments uh that you've paid and what payments we've received um you can even answer correspondence if we send you a notice you can even answer correspondence through your myftb account and the best thing about uh myftb in my opinion is is that you can uh secure chat you can actually chat with someone about your account and the great thing about that is that you don't have to call the phone line and be on hold for three hours before you actually get to talk to someone about your account so we highly recommend as a small business owner as an individual that you sign up for a my ftb account now it's a little bit of a process to sign up because there are uh security concerns so once you sign up online we will send you a pin number in the mail once you get that pin number you will be good to go so please sign up for a myftb account we also have tax news tax news is a monthly online subscription service that is owned by the taxpayer rights advocates office um and it's a uh another way to stay informed about all things taxes uh in california it is for tax professionals small business owners individuals to stay informed about what might be coming down the line in california it has friendly reminders articles about friendly reminders uh when estimated tax payments are due or when tax returns are due uh tax forms may be due maybe may be changing um any changes to our policies and procedures um there are also articles on what new tax laws that might be coming down that might be that might affect your small business it might might affect you so it's another great way to stay informed um it's very easy to sign up if you go to our website at ftb.ca.gov if you go to the uh newsroom section there's a subscription services where you can pop in your email address and tax news will be delivered to you totally free um once a month to your email inbox so please sign up for tax news all right so now we're going to briefly get into the different forms of ownership we're going to run through a few of them usually this presentation usually takes about 45 minutes and i'm trying to squeeze it into 15 so i'm gonna just briefly give you an overview of what each common form of ownership is so the first form of ownership that we will be briefly discussing is sole proprietorships now if you want to be in business today and you want to be a sole proprietor and guess what you would be in business excuse me you just need to make sure that you have the necessary permits and necessary licenses for your particular business and your particular location some great resources on finding out what permits and license that you may need for your particular business in your particular location is the governor's office of business and economic development or gobiz they have a fantastic website called cal gold that can point you in the right direction or what permits and license that you may need for your particular business and your particular location or your local small business development center we just heard from the fantastic sunita about the many services that they provide there's some great resources out there uh and the and the best thing about uh these resources is that is that they usually are free so please please please take advantage of those now this sole proprietorship is the simplest and least expensive form of business ownership why because there's no requirement to file any paperwork with the california secretary of state because a separate entity is not being formed with this form of ownership there's no formal transfer of assets in order to start the business however it is highly recommended that you keep the assets of the business separate going forward in order to make it easier to keep accurate records having a separate bank account is highly advisable so that you can keep track of exactly what's coming in and what's going out you want to keep as accurate records as possible as much documentation as possible just in case questions arise or unfortunately you get audited and again because a separate entity is not being formed with this form of ownership you and your business are basically deemed the same for income tax purposes the taxable year of the business will be the same as the taxable year of the owner most individuals on the calendar year for your taxes so your taxes in a normal year would be april the 15th now a solar prior is a business owner that lists all of their income and their expenses on a federal schedule c and that information will be used for your individual tax return or for california that is your form 540. so all of the income for the business is being reported and all of the expenses for the business is being reported as well expenses such as office supplies inventory purchases marketing and advertising lease expenses employee salaries etc those will all be reported as well now the next form of ownership that we will be discussing briefly is partnerships or general partnerships a partnership consists of two or more persons operating a business for profit it can have an unlimited amount of partners but it has to have at least two to be considered a partnership now a partnership is a very very flexible form of business ownership and just like with a sole proprietorship it is relatively easy to set up because there's no requirement to file any paperwork with the california secretary of state the partners themselves decide the organization structure and the distribution of profit or losses it is highly recommended this is done with a written agreement or an operating agreement that details exactly how much each partner owns of the business um how much each partner has invested into the business and how the profit losses will be distributed all right so a partnership is considered a pass-through entity meaning that the partnership's profit passes through to each individual partner and then each individual partner will take that information and report that on their individual tax return in accordance to the written agreement so how does a partnership report its california income well a partnership will file an informational return from 565 in order to report its income in the process of filling out that form 565 a schedule k-1 will be generated for each individual partner and then each individual partner will take that information and report that on their individual tax return okay so now we're going to briefly discuss and move into the most commonly used legal entities for corporations the most common ones are c corporations or s corporations and we're also lastly talk about llc's remember california legal entities are formed by filing the appropriate form or document with the california secretary of state all right so we're going to move on to now c corporations okay so a c corporation is a separate legal entity that is owned by its shareholders what does that mean a separate legal entity is a business that is given its own individual legal status so that the entity's actions may be deemed separate from the individual owners or shareholders before conducting business and this is true of all other business entities you must register with the california secretary of state it can be costly to maintain and set up there's certain rules and regulations that a corporation must abide by for example drafting articles of incorporation drafting bylaws which is basically a road map to how the business is going to be run keeping minutes at mandated meetings this could be time consuming a bit cumbersome and a bit costly especially if you're using an attorney to help you in this area now with ac corporation you have the option of using an income year or a fiscal year instead of a calendar year this may or may not be advantageous to you depending on what type of business

2021-04-01 12:30

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