With grant funding awarded by Kaiser Permanente and the National Association for Latino Community Asset Builders (NALCAB), Women’s Economic Ventures (WEV) has announced the Forgivable Business Loan & Coaching Program recipients.

Five Ventura County small business owners will each receive no-cost technical assistance and training, as well as $10,000 in forgivable funding, to support their recovery and growth. Program information on the WEV website.
 
Recipients of WEV’s Forgivable Business Loan & Coaching Program are:

Luisa Arzate, Marfer Ink (printing and marketing, Oxnard)
Blanca Hoffmeier, SWPPP CAL (stormwater management, Thousand Oaks)
Rochida McClure, McClure Counseling & Consulting (behavioral health therapist, Ventura)
Arturo and Julio Palencia, Mexa Brands, LLC (importer and distributor, Ventura)
Lillie Parker, WaterLillie Salon (hair salon, Ventura)

“What a great feeling it is to know that there are organizations in our very own community like WEV! WEV is the resource for small business owners like me.,” said participant Blanca Hoffmeier.

“It is hard for those of us who grew up not speaking English at home and not having a head start,” she said. “Yet, with WEV behind us, we know that there are people who understand us, willing to coach us and encourage us to believe in ourselves to make our goals happen.”

Research performed in California earlier this year by Small Business Majority found that 32% of minority business owners were denied a loan, compared to 17% of white business owners. Without access to capital, many underserved small business owners are at a higher risk of not recovering from the pandemic, impacting the future and vitality of our local communities.

“This program is the ideal combination of providing essential business capital and coaching for local women and minority entrepreneurs,” said Marni Brook, WEV’s director of lending. “Add in the support of the WEV community, and now we have a recipe that empowers local business owners to grow, thrive and build for the future.”
 
WEV plans to launch an expanded version of the Forgivable Business Loan & Coaching Program to include both Santa Barbara and Ventura county small business owners.

For more about Women’s Economic Ventures, visit www.wevonline.org.