December 2015 Newsletter

Dear Friends,

OBDC Small Business Finance believes that our unique partnerships and staff expertise are critical components to connecting our borrowers to the funding, education, and relationships they need to thrive. This year continues to be full of exciting new partnerships and staff contributions:

• We’re thrilled to announce that OBDC was awarded three large grants from our partners at Wells Fargo, the Office of Community Services, and the Small Business Administration to support our programs. For more about the initiatives that this funding will support, please click here.
• Kathia Kacic brings our community another credit tip in her ongoing series about ways to improve a credit score.
• OBDC’s Advising Corner is brought to you by Karla de Leon, OBDC’s Lead Business Advisor, who recently joined our growing Business Advising team.
• We are expanding the ways in which we can partner with our clients and other local small business owners in our communities. Read on for more information about additional services and support available to you.

Finally, we’d like to extend our heartfelt thank you and best wishes to William Ong, who will be retiring on December 31, 2015. William Ong is an incredible financial leader and committed supporter of entrepreneurial development in the Bay Area. For the past eight years as Chief Financial Officer (CFO), William has played a central role in OBDC’s growth and transformation into one of the top SBA Community Advantage lenders in the country. His guidance and unwavering commitment to empowering entrepreneurs to transform their lives and communities is unparalleled.

We are indebted to his vision and commitment to propelling us to our present position in the CDFI industry. OBDC has named Scott Lewis to succeed William in the role of CFO. As an entrepreneur with more than 35 years of experience in the financial markets including extensive experience managing lending programs, Scott is uniquely qualified to assume William’s CFO responsibilities, and we are thrilled to recognize his outstanding leadership as Senior Vice President – Oakland Market Manager at OBDC for the last five years. Please join us in wishing William and his family all the best in his retirement and in welcoming Scott into his new role.

We wish you a happy holiday season and thank you for your partnership and support.

Jacob Singer, President & CEO

OBDC Expands Services

We are excited to share some additional services available to our clients, in an effort to continuously improve the ways in which we support you as you work to grow your businesses.

• Co-host an event at your business
• Your business profile on our website
• Your business highlighted on OBDC’s social media channels
• List your events on OBDC’s website
• Sharing events on Townsquared

Click here for more details about each of these opportunities and how to take advantage of them.

Advising Corner:
Make Sure the Minimum Wage Increase
Doesn’t Hurt Your Bottom Line

Earlier this year, Oakland saw a $3.25 increase in its minimum wage from $9 per hour to $12.25 per hour. While some business owners have been adjusting to this increase, it’s now time to prepare for another increase.

Starting January 1, 2016, the minimum wage in Oakland will go up $0.30 per hour to $12.55. As a business owner, this increase (or the previous one if you still haven’t quite adjusted) is a perfect time to take a look at your finances and make sure your business is cash flow positive.
Click here for the rest of Karla’s column about the upcoming minimum wage increases.

Get to Know Darius Mahajer,
Senior Vice President & San Francisco Market Manager

Darius brings over a decade of experience in various industries including textile importing, apparel manufacturing, small business consulting, and marketing. Darius holds an M.B.A from San Francisco State University and a B.A in Professional Sales from Coles College of Business at Kennesaw State University, Georgia. Click here for Darius’ bio.

“I have a very entrepreneurial spirit – it’s in the family. My mom has been operating a home health care business in San Diego for the past three years. She is on the path to success, and I was able to recommend some credible organizations who could help her during the early years of her business. The ability to work with an organization like OBDC that is tapped into such a great network of resources that helps small businesses is very gratifying. There are many reasons why a business may fail – at OBDC we aim to reduce that risk.”
Click here for Darius’ full interview.

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Powering Dreams. Transforming Communities.

OBDC Small Business Finance

2101 Webster Street, Suite 1200, Oakland CA 94612