Harbor BusinessSource Helps Truck Business Obtain $414k SBA Loan and Create 10 Jobs
The Harbor Region BusinessSource Center helped entrepreneur Artemio Benitez obtain a $414,000 Small Business Administration loan (SBA) for his business Portside Used Truck Sales, Inc., providing him cash flow that allowed him to hire 10 new employees.
Artemio approached the Harbor BusinessSource Center requesting a $400,000 short term loan to purchase inventory and pay off his high-cost credit. The Harbor Region BusinessSource conducted a financial analysis and determined that bypassing Artemio’s current credit line with a Small Business Administration loan would increase the profitability of each Portside transaction by approximately 30 percent, increasing profit margins, and allow the business to expand at a much faster rate.
2018 EWDD Status Report - A Five Year Re-Cap of the Economic and Workforce Development Department
When Angelenos ask “What is the mission of the Economic and Workforce Development Department?” my answer is three key words – Jobs, Youth, and Business.
EWDD is an interconnected system of 14 YouthSource, 16 WorkSource Centers and nine BusinessSource Centers. Strategically located in LA’s underserved neighborhoods, this network of centers provides a wealth of resources designed to give Angelenos – youth, job seekers and entrepreneurs – an opportunity for success.
Au Revoir EWDD GM Jan Perry! Staff Celebrates 5 Year, 6-Month Tenure
EWDD staff gathered for a Parisian-themed celebration on Tuesday December 18, 2018 to bid au revoir to General Manager Jan Perry, who is completing her tenure effective December 31, 2018.
Mayor Eric Garcetti’s Chief of Staff Ana Guerrero presented a certificate to Jan on behalf of the Mayor and thanked her for her five years and six months of leadership. Longtime colleagues including General Managers from other departments and EWDD retirees also attended the party.
Central West Region BusinessSource Helps JK Law Firm Get $100k Loan and Adds 2 Jobs
The Central West Region BusinessSource Center helped Jean Kwon, Esquire, owner and operator of the JK Law Firm obtain a $100,000 Small Business Administration Community Advantage loan, infusing her firm with working capital for seven new critical pending lawsuits and paving the way to create two new jobs.
Jean obtained her Juris Doctorate in 2002 from the University of La Verne and has owned and operated JK Law Firm since 2008.
South Valley BusinessSource Helps Owner of Happier Camper Receive $1.1M Loan
The South Valley BusinessSource Center (BSC) helped entrepreneur Derek May, founder and owner of the Happier Camper travel-trailer rental business, qualify and receive a $1,113,200 business term loan and $100,000 line of credit to expand and hire up to 20 new employees.
In 2010, Derek started a business that provides opportunities for customers to rent new and restored vintage, ultra-light trailers with an emphasis on camper-friendly design, utility, and flexibility. As demand grew, Derek launched Happier Camper in 2014 where he began designing and manufacturing his own trailers.
LA:RISE – Job Seeker is 1st Female Driver For LA Graffiti Abatement Division
LA:RISE participant Denise was facing financial hardship while dealing with the loss of her father and brother, when a friend told her about EWDD partner Coalition for Responsible Community Development (CRCD), which offers educational services and job services, including a partnership with the LA:RISE, Los Angeles Regional Initiative for Social Enterprise, program.
Denise completed her application and interviewed for a position as a driver.
West Valley BusinessSource Helps Entrepreneur Open Clayton’s Public House
The West Valley BusinessSource Center (WVBSC) provided technical assistance, and over the course of several years, helped entrepreneur Elizabeth Peterson-Gower obtain a $650,000 loan to open Clayton’s Public House, a Victorian style pub in the Spring Arcade Building, a Los Angeles Landmark Building in Downtown Los Angeles’ (DTLA) Historic Core.
The establishment retained two jobs and created 45 jobs.
Hollywood BusinessSource Helps Entrepreneurs Open Board Game Company
The Hollywood BusinessSource Center (BSC), run by EWDD partner MCS, recently helped start-up entrepreneurs Jason Lautenschleger and Barry McLaughlin obtain a $125,000 working capital loan for their board game company, “Barry & Jason Games and Entertainment.”
The loan allowed them to develop a board game that became a “Game of the Year” finalist and hire two new employees.
EWDD’s Rapid Response Team & BusinessSource Help Employees Buy Business, Box Pack & Ship, From Boss
In 2016, EWDD awarded a contract to Concerned Capital, a mergers and acquisition firm based in LA’s downtown Arts District that specializes in helping employee/ownership buy-outs in small businesses, as part of a pilot program to use Layoff Aversion funding to transition company ownership from retiring owners to long term employees.
As part of their contract, Concerned Capital worked directly with three retiring Los Angeles small businesses owners, including a print shop and a bakery, helping them transition their businesses by selling to one or several of their employees, thus saving jobs and ensuring the business remained open.
Creek Wildfire Grant Helps Job Seekers Gain Skills While Restoring Area
The City of Los Angeles Economic and Workforce Development Department received a National Dislocated Worker Grant (NDWG) in 2018 to employ crews of workers to help with the cleanup of areas affected by the December 2017 wildfires in Sunland-Tujunga, Sylmar and Sun Valley.
The grant provides temporary employment to workers and residents impacted by the wildfires, and also gives an opportunity for long-term unemployed individuals, including ex-offenders, to get back on their feet.
The Hollywood WorkSource Center, run by EWDD contractor MCS, assembled six active crews with four employer partners and is currently working at sites affected by the 2017 Creek Fire.