Monthly Archives: November 2023

Blog, California Capital News and Updates

Through California Capital partnership, City of Lodi expands funding opportunities for local businesses

November 29, 2023 Lauren Taber

Today, the City of Lodi Economic Development Department launches its partnership with Sacramento-based nonprofit California Capital Financial Development Corporation (FDC) to create a new loan program for small businesses and entrepreneurs in the City of Lodi. Through the Hometown Microloan Program, low-interest loans of up to $50,000 will be available to Lodi-based businesses with 10 or fewer employees.

“This new source of lending offered by the Lodi City Council is intended to provide a path forward to greater economic growth for startups and small businesses based in Lodi who have experienced hardships in obtaining capital,” explains Astria Trupovnieks, City of Lodi Business Development Manager. Trupovnieks developed the microloan program over a 12-month period in consultation with lending institutions in Lodi, regional nonprofit microlenders and community development nonprofits.

While any businesses who fit the borrowing criteria may apply, these loans are particularly designed to reach first-time borrowers and low-income, minority, veteran, and women-owned businesses. The partnership with California Capital FDC, a mission-based lender that provides loans to businesses who have been denied funding from traditional sources, will be instrumental in providing long-term financing support for Lodi’s growing businesses.

“California Capital provides complimentary business advising as part of the loan application process, ensuring that the applicants are prepared to manage their business and finances effectively,” explains Robert Gonzales, Director of Lending at California Capital, adding that business owners also will have access to ongoing no-cost advising after receiving a loan.

To add to the mission-based approach of the program, the loans will have a fixed interest rate of 5%, which is far below the current prime market rate. These favorable terms are made possible by the City of Lodi who will buying down the interest rate from 9.75 percent in addition to paying all loan fees. Leaders from both entities are optimistic, says Trupovnieks. “Plans are already underway to expand funding for the program to increase the number of businesses assisted in the future.”

Anyone interested in learning more about the Hometown Microloan Program is invited to visit cacapital.org/lodi or lodi.gov/484/economic-development.

Blog, California Capital News and Updates, Client Success Stories, Uncategorized

With a loan from California Capital, Edwin Balli is Transforming Rio Pub into a Community Hub

November 27, 2023 Lauren Taber

Edwin Balli isn’t new to business ownership—but with the purchase of Rio Pub in Rio Linda, California, he is taking on restaurant ownership for the first time. This year, Balli worked with Sacramento Valley SBDC and the California Capital Lending Center to enter the restaurant business and relaunch Rio Pub as a neighborhood institution.

With a background in the tech industry, Balli launched his first business building custom computers and point-of-sale systems for small businesses with a college friend in 2012. From there, working as a business systems analyst for firms like LinkedIn and Facebook, Balli refined his skills of keeping a business running, so that by November of 2022 when he was ready for a pivot away from Silicon Valley, he was prepared to step back into business ownership.

Knowing that he did not want to start a new enterprise from scratch, Balli worked with a broker to search for turnkey businesses on the market to buy. His one stipulation: he was not looking for businesses in the restaurant industry. “Then Rio Pub came up,” Balli says, laughing. “We came to see it and instantly fell in love with the neighborly vibe and the friendly people.”

Tapping Into Resources

Balli instantly envisioned the ways that he could revamp the space—he was sold, and he was looking to buy. To prepare to make an offer and enter unfamiliar business terrain, Balli worked with Panda Morgan, a business advisor with Sacramento Valley SBDC, a program of California Capital FDC. “I had built business plans for start-ups, but never for an existing business,” he says, explaining that different considerations in the formatting and growth projections. “Working with Panda is what helped me realizing that [the business] was viable.”

After working out what his purchase offer would be and the capital infusion he would need to make it possible, Balli was referred to the California Capital Lending Center to apply for a loan. Without restaurant industry experience, Balli had a hard time finding funding opportunities from traditional lenders—but as a mission-based lender, California Capital was able to take a holistic approach and consider Balli’s business experience and detailed business plan. Ultimately, Balli was approved for funding and celebrated the grand re-opening of Rio Pub in October of 2023. Continuing to work with his business advisor, Balli is honing his skills in accounting, managing inventory, and is applying his business analyst background to assess his progress and plan for growth.

Creating a Community Hot Spot

Since opening, Balli has worked hard to build trust in the local community and establish a steady clientele base. “I want to get the ‘new owner, new mentality’ message to the community,” explains Balli. “We’re hosting events and making the space more family-friendly. The first thing I bought when I got the place was an arcade machine.”

To be sure, Balli is well on his way to hosting events every night of the week: their current calendar boasts brunch on Sundays, Taco Tuesdays, Trivia Wednesdays and Karaoke Thursdays. Another local business, D-Dub’s Grubs, rents the kitchen space and serves up innovative and indulgent eats for the pub’s customers. The consistency is paying off, says Balli. “My goal is to pub Rio Pub on the map beyond Rio Linda and get clients from areas like Natomas, Antelope, and Elverta. I’m getting feedback from bartenders that they’re seeing new faces.”

With a clear vision and the skills, expert advisors, and community buy-in to make it a reality, Edwin Balli is well on his way to making Rio Pub a destination for family-friendly fun.

Black-Owned Business, Blog, California Capital News and Updates, Client Success Stories

Meet the finalists of the Small Business Showcase Pitch Competition!

November 21, 2023 Lauren Taber

Next month, the Women’s Business Center will host the Final Round of their Small Business Showcase Pitch Competition, the capstone event of their Motivated Entrepreneurs networking program. Five entrepreneurs will present their business pitches at the free event, and the top three will receive cash prizes. The competing business owners were selected after completing the first round of the Small Business Showcase in November, where 13 total businesses presented for the chance to pitch at the larger event.

Preparing for a pitch competition is an impressive feat: the businesses owners you’ll meet below worked hard to finalize their business plans and translate that into a succinct, 3-minute presentation that demonstrates who they are, knowledge of their industry, and how their business solves a problem in that market.

The Final Round will take place on Tuesday, December 12 from 5pm-8pm at 1442 on the Blvd. We hope you’ll join us to cheer on the finalists, learn what it takes to effectively pitch a business, and network with local small business champions.

In the meantime, let's meet the businesses who will pitch at The Final Round!

Itacate, founded by Martha y. Díaz

After falling in love with backpacking and realizing that options for Latin-inspired meals in the back country were limited, Martha Y. Díaz created Itacate – a Latin backpacking food company for adventurers with great taste and strong values.

DRVA Emergency Rescue, Founded by Taneika Jones

Taneika Jones is squashing any and all stereotypes of women in the automotive industry with her company, DRVA – a certified green, woman owned and operated Emergency Roadside business dedicated to rescuing stranded motorists experiencing roadside emergencies.

The Lux Barber Lounge, Founded by Ron Burt

Ron Burt, proud founder of The Lux Lounge, has over 10+ years of barber experience and is dedicated to helping clients look and feel their absolute best.

TAP Wine Lounge, Founded by Cynthia Dees Brooks

With her love for food, wine, art, music, & community, Cynthia Dees Brooks opened up the The Artisan Pour (TAP) Wine Lounge where guests live in the moment and enjoy luxury wines from Black-Owned wineries

Best In Tents, Founded by John Miller and Seth Abbott

John Miller used his passion for nature and live music to create Best in Tents with his business partner, Seth Abbott – luxury camping with full power accommodations at music festivals along the west coast.

We hope you’ll join us on December 12th to hear more from these inspiring, visionary entrepreneurs!

Like we said, preparing for a pitch competition is no easy feat. Let's meet all of the participants from Round 1 who are working hard on their businesses!

Bahiya Spaulding, Founder of Rock Your Crown Beauty

Specialized products and support services for women of color experiencing hair loss.

Ashley Geoffrey, Founder of The Suite Spot Collective

Commercial real estate and turnkey rental services for beauty industry entrepreneurs.

Da'Shena Payne, Creator of The Moisture Oil Comb (MOC)

An innovative hair care tool designed to make hair oiling fast and easy. Part of CAGED.

Iyanna Jennings, founder of Nouvelle Healing

An inclusive reiki healing studio offering other mind-body healing services.

La Toya Holmes-Green, Founder of g4 All Access Transport

Non-emergency medical transportation designed to increase accessibility.

Pamela Marquez, Founder of Puzz e Gata Jamaica

Homemade, authentic agua de jamaica inspired by the flavors of Mexico.

Naeemah Capers, founder of House of Priti

A membership-based community for women and moms to learn the basics of investing.

Christa Lee, Founder of Priti Mobile Notary

A remote and mobile notary service to make notarization quick and accessible.

These entrepreneurs are the reason our local small business ecosystem is vibrant and growing!

Uncategorized

By Making Better Cider, Ashlee and Jon Hoag Are Making Cider Better

November 9, 2023 Lauren Taber

Before they owned and operated their own cidery in Auburn, CA, Ashlee and Jon Hoag were home brewers with strong opinions on what makes good cider. After a trip to visit friends in Colorado, where the cider surpassed what they could find in California, the couple decided to take matters into their own hands. “We asked ourselves, ‘where are we going with this?’” Ashlee recalls, reflecting on their 13 years of home-brewing. “Why don’t we just make the cider we like here?”

Knowing that they could use their experience and techniques to innovate the local cider scene, the couple pivoted their careers to full-time cidermaking and launched Ponderosa Cider. With a loan from California Capital, Ashlee and Jon opened the Ponderosa Cider Company cidery and taproom in Auburn in March of 2023, and quickly became a community staple known for their lively events and commitment to local agriculture.

A Sweet Spot to Start

Inspired by the possibility of redefining California cider, Ashlee and Jon decided to operate in Jon’s hometown of Auburn, California, where they knew they could take advantage of the region’s diverse and abundant fruit to craft truly unique ciders. “We want to take the historic fruit industry of the [Sierra Nevada] Foothills and repurpose it,” explains Jon, adding that they have been able to use fruit from seemingly fallow orchards and even repurpose a peach orchard’s unused fruit press. “We’re hoping to build that industry while also building the cider industry.”

To elevate their technical prowess as cidermakers, Ashlee and Jon each completed hands-on courses through Cornell University and UC Davis. The pair was confident in their expertise, but without direct experience in the manufacturing industry or as business owners, finding the financing to fund their start-up costs was tricky. They were eventually recommended to California Capital and worked with a business mentor before moving forward with applying for a loan.

“We thought it would just be a way to vet our business plan for other application, but we learned so much,” explains Ashlee. “We fine-tuned our financial projections and reevaluated what it would actually cost to start the business. It was a great education.”

Success is Brewing

With support from their mentor, Ashlee and Jon were able to secure funding from the California Capital Lending Center, which they put to use right away. They used the funds to purchase industrial brewing and manufacturing equipment, secure a lease on their location in Auburn, and hire and train a fulltime cidermaker. “We now have over 135 wholesale accounts from Tahoe to Vacaville,” Jon says, reflecting on their first few months in operation. “That has been a great way to build our brand.” In addition to establishing a statewide presence, since opening the cidery and attached taproom, Ashlee and Jon host an array of community events, from half-marathon finish lines to weekly trivia nights.

“We want to make sure we’re bringing people with us as we go,” Ashlee says. Moving forward, the founders are excited to continue to demonstrate just how good cider can be, one bottle at a time.