Long Beach City College has received a grant from the U.S. Small Business Administration to support seasoned small businesses – one of six organizations selected nationally for the money.
LBCC will receive $375,000.
THE U.S. Small Business Administration supports the activities of small business owners and entrepreneurs and is the only cabinet-level federal agency dedicated entirely to small businesses. It provides advice, capital and procurement expertise.
Through its national Veterans Business Outreach Center program, the SBA provides support to veterans as they enter the world of business ownership by providing resources such as financing programs, training and contracting opportunities federal.
LBCC was selected by the SBA as one of six organizations to receive the grant because the college demonstrated its commitment to addressing the challenges faced by veteran-owned small businesses and helping them succeed, according to a release Press.
LBCC will now be a designated body Veterans Business Outreach Center Also.
“LBCC has a long history of supporting small business entrepreneurship in the region and we have always been proud to serve our seasoned entrepreneurs,” Herlinda Chico, president of the Long Beach Community College District Board of Trustees, said in a statement.
“This grant will allow us to significantly expand our current efforts,” she added, “by adapting services and bringing resources directly to military installations in our region to reach active military personnel, veterans and their families during their transition to civilian life.
The one-year, renewable grant will support a range of services, including providing veterans with training and guidance in accounting, financial planning and management; help them understand the multitude of sources of capital available; help them access financing, loans and grants; provide marketing and outreach services to promote veteran-owned businesses in their communities and beyond; and provide instructions to help active-duty service members transition from the military.
As a Veterans Business Outreach Center, LBCC will provide on-base services to assist active military personnel who are about to transition to civilian life, as well as military families and dependents who also want to start their own small business, college officials said.
This outreach center program is in addition to LBCC’s other economic development programs, which include the Los Angeles Regional Small Business Development Center Network and the Goldman Sachs 10,000 small businesses at LBCC.
In the United States, veteran-owned small businesses employ more than 5 million people and generate more than $1.3 trillion in annual revenue, according to the Press release announcing the fellows.
“We are honored to support transitioning military members, veterans, National Guard and Reserve members, and military spouses in launching and expanding their businesses,” said Mike Muñoz, superintendent-president of the LBCC. “By doing so, we can help boost the regional economy and continue our California Community Colleges’ mission to support the development of our local small businesses.”
