OBDC’s New Organizational Report
On June 11, 2015 OBDC released our new organizational report, sharing our impacts in Oakland, San Francisco, and with veteran-owned businesses. To request a physical copy, please email updates@mainstreetlaunch.org.
myRA: A Retirement Savings Option for Small Businesses
Small businesses now have a new way to help their employees save for retirement. The U.S. Department of the Treasury recently introduced myRA (my Retirement Account), a new retirement starter savings account that is simple, safe and affordable for both employers and their employees. It was created for employees who do not have…
Reliable Transportation is Good for Business
The New York Times reported on a new study that reveals that commuting time is the single most important indicator in whether or not low-income families are able to escape poverty. This relationship between social and economic mobility and transportation is stronger than other factors like crime, elementary school test scores, or the percentage of two-parent families within that community, according to the article.
Bon Voyage, Felicia!
Last week, OBDC said “bon voyage” to Felicia Pierson, OBDC’s Senior Vice President – Oakland Market Manager, after more than 7 years with the organization, blending the expertise she gained in corporate banking with her passion for supporting and empowering underserved communities.
Bay Area’s Best Businesses are OBDC Clients
In March, the Bay Area A-List 2015 Winners were announced. This annual list received more than 35,000 verified votes on the 6,100 nominees of great Bay Area businesses. OBDC is proud to support many of the top-10 winners this year. We tweeted about all of these businesses last week, but in case you missed it, we present the list here.
Good Money for your Small Business
The Sustainable Business Alliance and The East Bay Express have come together to produce a “Good Money Guide” for Bay Area Small Businesses. OBDC Small Business Finance is thrilled to be a part of this project.
Financial Services: A Look at the Players
Two independent reports were recently released finding that Community Development Financial Institutions (CDFIs) are a critical component of the financial services industry, to ensure low-income people have access to credit and capital.
Celebrating Women’s History Month with Entrepreneurs
In the United States, women own 10.6 million businesses that produce approximately $2.5 trillion in sales every year. These women-owned companies employ 19.1 million workers, or one in every seven employees. Even though women own approximately 30 percent of small businesses, women-owned companies make up just 16 percent of bank loans and 17 percent of SBA loans. You can find more statistics about women entrepreneurs in this great fact sheet.
Implementing the Minimum Wage: Resources for Borrowers
This week, the new minimum wage ordinance in Oakland went into effect. For more about the new laws and some tips about how to navigate the implementation process, check our our past blogs. Businesses across town are still working on all the systems and processes needed to comply with the law. Here are some resources to support you in that process:
The New Minimum Wage Mathematically Speaking
On March 2, the minimum wage increase in Oakland takes effect, and small business owners across the city are getting ready for the new regulation. Oakland will have the highest minimum wage in the country (though Emeryville is attempting to raise their minimum wage as high as $14/hour), and the discussion from small businesses about this increase has been mostly positive.