March 2010
Resources for Following and Getting the Money
Business Life Magazine (www.businesslife.com) recently co-sponsored a workshop on the recovery with Woodbury University. Here are some notes from that workshop:
Stimulus Money: Jennifer Grutizius, Executive Director for the California Recovery Task Force in the Governor’s Office, reported that $60 billion of the $80 billion in federal stimulus money given to California will start flowing through the state in this year. Businesses should get federal, state, and local certification to facilitate access to Requests For Proposals (RFPs) and to contracts with businesses and agencies receiving the funding. The Task Force has a comprehensive Web site, to track where the money is going by sector and location. This site can be useful even if your company will not respond to RFPs, because you can identify companies that will be looking for vendors and subcontractors when they receive funding. Visit www.recovery.ca.gov for more information.
Employees Funded by the Federal Stimulus Package: Los Angeles County in partnership with the South Bay Workforce Investment Board (SBWIB) is able to provide employees funded by the stimulus package. The SBWIB is the employer of record, performing payroll functions and absorbing the Workers Compensation liability. Up to 100% of the cost of wages can be covered for up to 12 months. Visit www.employmentstimulus.org for more information.
U.S. Small Business Administration Opportunities & Services: Alberto Alvarado, the District Director for the U.S. SBA, reported that they are tracking “shovel ready” project opportunities and providing advocacy services for businesses that are experiencing difficulty getting loans approved. Visit www.sba.gov for more information.
Temporary SBA Funding Initiatives: The cap on an SBA Express Loan has been raised to $1 million (up from $350,000) to provide working capital for eligible businesses — this loan is designed to help existing businesses restock inventory and for certain other purposes. Also, the 504 Loan Program has been expanded to support the refinancing of owner-occupied commercial real estate loans maturing soon. Read this factsheet (PDF) for more information.
The Procurement Technical Assistance Center of the L.A. County Office of Small Business publishes lists of Purchasing and Contracting Opportunities with L.A. County. Visit www.laosb.org for more information; or visit www.lacounty.gov, click on the “Business” link (near the top of the page), and then on “Doing Business with LA County” (on the side menu).
The Los Angeles County Economic Development Corporation (LAEDC) offers free-of-charge information and assistance to decision-makers and consultants representing large and small businesses in the manufacturing, distribution, and service industries. Visit http://www.laedc.org/ for more information.
Local Chambers of Commerce: Your local COC may be posting opportunities on their Web sites. As an example, see this recent posting in the blog of the Pasadena Chamber of Commerce.
Buying Government Surplus: If you’re in the market for equipment and machinery and are looking for good deals on used items, try government surplus. Billions of goods are sold each year by Uncle Sam as well as by state and local governments. Sales are usually via auctions. Read more in “Idea of the Day” by Barbara Weltman.