OBDC is honored to have received grants from Wells Fargo, the Office of Community Services, and the Small Business Administration (SBA) to support our programs:
Wells Fargo awarded OBDC a grant of $700,000 over three years and $750,000 of lending capital as part of Wells Fargo’s newly formed Diverse Community Capital Program. The grant funds will enable OBDC to hire a senior-level staff member to lead OBDC’s outreach, business support services, and lending for African American entrepreneurs. The funds will also be used to launch a new Entrepreneur in Residence program, where promising young entrepreneurs with new small businesses will receive incubation support for 3-6 months. Please click here for more information.
The Office of Community Services awarded OBDC a grant of $800,000 through the Community Economic Development program. This grant will be used to capitalize our new International Corridor Job Fund, which will provide $700,000 in loan capital to small businesses and $100,000 in job training subsidies for jobs created from these loans. The Job Fund will offer a loan product with concessionary terms designed to meet the unique needs of businesses affected by the construction of a Bus Rapid Transit line in Oakland. Please click here for more information.
The SBA awarded OBDC a grant of $150,000 through its Program for Investment in Micro-Entrepreneurs (PRIME) program. OBDC will use the funds to provide technical assistance through technology to U.S. military veteran entrepreneurs in the Bay Area. OBDC is excited to receive this award to support our ongoing work to provide capital, education, and relationships to veteran-owned businesses in California. Please click here for more information.
We are very grateful to our funders for their support and partnership in creating economic opportunity by empowering entrepreneurs.