Spring 2015 Newsletter

Dear Friends,

For 36 years, OBDC Small Business Finance has created opportunity by empowering entrepreneurs. This year is positioned to be as busy and impactful as ever.

· We have moved offices to accommodate our organizational growth. You can now find us at 2101 Webster Street, Suite 1200 in downtown Oakland.

· We just celebrated the one-year anniversary of our veterans program. We achieved $1 million in lending in the inaugural year of this program, and are expanding our business advising and training services with FastTrac, a program of the Kauffman Foundation.

· The CDFI industry is focusing on themes of diversity, inclusion, and equity this year. We believe strongly in these values and are proud to have highly diverse borrowers, staff, and board of directors. Click here to read more about this on our blog.

· We are here to support our clients as they adjust to meet the new minimum wage ordinance. We have a legal workshop on March 19 on complying with the ordinance, and we are available to help clients work through cash flow management and capital needs given the increased wage expenses. Click here to register.

We look forward to continuing to share our work with you this year. Thank you for all your continued support.

Jacob Singer, CEO

Minimum Wage Laws are Changing in 2015

A big theme of this newsletter is the new increased minimum wage. To support our OBDC community through the transition we are offering a workshop titled “Mastering the New Minimum Wage”. This workshop will discuss:

• Details of the new minimum wage law and how it works
• Calculating the financial impact of the new law on restaurants
• Mitigation strategies for restaurants to offset the financial impact

By now most small businesses are aware of the new minimum wage laws that are being implemented in Oakland and San Francisco. Now many restaurants are trying to determine how best to implement the new wage structure while still growing a profitable business. An initial first reaction is to raise prices, but as noted in the East Bay Express feature story “The Tipping Point” by Luke Tsai, it is not that simple. A price increase needs to take into account several factors such as:

• How expensive is your food now?
• Can your customers pay for higher prices?
• Are your competitors raising their prices?

Paula walks through some critical questions for restaurants to consider when determining how to best implement the new wage structure while growing a profitable restaurant. To see Paula’s entire column, click here.

We’re thrilled that Jen Leybovich, OBDC’s Vice President – Strategy & Development, was one of 48 community development financial institution (CDFI) professionals selected to participate in the second annual Citi Leadership Program For Opportunity Finance. Click here to read the entire press release.

Mastering the New Minimum Wage

Date: Thursday, March 19, 2015

Time: 10am-12pm

Location: 2101 Webster Street,

Suite 1200, Oakland, CA 94612

More info: This workshop will discuss the new Minimum Wage Ordinance, financial implications to restaurants, and strategies to mitigate the increased cost. Click here to register.

FastTrac New Venture

Date: Tuesday, March 24, 2015

Time: 6-9pm

Location: 2101 Webster Street, Suite 1200, Oakland, CA 94612

More info: OBDC is honored to work with U.S. military veterans. OBDC is offering FastTrac New Venture, a 10-week business training course for aspiring entrepreneurs. Click here to register.

Intellectual Property Workshop

Date: Tuesday, March 17, 2015

Time: 3-6pm

Location: 999 Brannan Street, Penthouse Room, San Francisco, CA 94103

More info: Intellectual Property Basics for Small Businesses at no cost: meet one-on-one for a 30-minute consultation about your specific questions regarding your brand, business name, and more. Click here to register.

Unity Council Workshop:

Getting a Business Loan

Date: Wednesday, March 25, 2015

Time: 8:30-10am

Location: Unity Council, 1900 Fruitvale Avenue, 3rd Floor, Oakland

More info: This workshop discusses what lenders are looking for, the documents you need and the importance of financials and cash flow. Click here to register.

Unity Council Workshop:

The Basics of Social Media

Date: Wednesday, April 29, 2015

Time: 8:30-10am

Location: Unity Council, 1900 Fruitvale Avenue, 3rd Floor, Oakland

More info: This workshop shows you how social media can lead to new customers and drive repeat business from current customers. This workshop discusses Facebook, Twitter, LinkedIn, Google+ and Pinterest and helps you decide which is right for you. Click here to register.

Expert Business Advising

At OBDC we are proud to continue our partnership with Pacific Community Ventures (PCV). PCV’s online advising program has a great new website and offers…

Click here to read more.