On August 21st, 2013 IEDC hosted the webinar Establishing a Small Business Emergency Loan Fund Program with presenters Robert Barragan, President of the Valley Economic Development Corporation and Jim Rich, President of the Greater Beaumont Chamber of Commerce. This webinar draws on experiences in the Greater Los Angeles region following the Northridge earthquake and in Greater Beaumont, Texas following several hurricanes along the Gulf Coast. Presenter, Roberto Barragan shared how his organization first established a revolving loan fund (RLF) and other lending programs for business recovery from the Northridge earthquake (1994) and subsequent disasters. Co-presenter, Jim Rich discusses how his chamber established and ran several business recovery loan funds with their SBA 504 program following Hurricane Rita (2005) and Hurricane Ike (2008). Additional items the presenters address include:
- Setup, structure, and fund a small business recovery loan fund after a disaster;
- Assess the financing needs of local impacted businesses that you’ll be serving, and how to capitalize the lending program to meet those local business needs;
- Engage in preparedness activities for your organization in order to administer such a fund in an emergency.
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Click here to download the webinar recording.
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Roberto Barragan President Valley Economic Development Corporation Roberto Barragan manages the largest small business development non-profit organization and the #1 SBA 504 lender in the Los Angeles area. VEDC serves over 6,000 businesses yearly with financing, training and direct business assistance with a staff of 38 employees in 7 offices. Over the last ten years, Mr. Barragan has raised over $50 million in federal, state and local as well as private resources for small and medium sized business development. He has over 23 years experience managing non-profit organizations, including the last twenty involved in community economic development, business recovery assistance from disasters, technical assistance to for-profit and non-profit entities and financial resource development. Jim Rich President Greater Beaumont Chamber of Commerce Mr. Rich has served as the president of the Greater Beaumont Chamber of Commerce for over 14 years. He has led the chamber in providing economic development services, business advocacy, and leadership development programs. The chamber established a foundation, which operates an SBA 504-certified development corporation for small business finance and coordinates regional economic development efforts. Under Mr. Rich, leadership, he led the effort to develop loan programs to respond to Hurricanes Rita and Ike.