• There are an estimated 4.65 million Hispanic-owned businesses in the U.S., making them the fastest-growing segment of U.S. small businesses. 
• The number of Hispanic business owners has grown 34% in the last 10 years.

According to the U.S. Census Bureau:

• Hispanics are the nation’s second-fastest-growing racial or ethnic group after Asian Americans.
• Twelve states—Arizona, California, Colorado, Florida, Georgia, Illinois, New Jersey, New Mexico, New York, North Carolina, Pennsylvania, and Texas—had a population of 1 million or more Hispanic residents in 2019

According to the State of Latino Entrepreneurship 2020 report from the Stanford Latino Entrepreneurship Initiative:

• Latinos are starting businesses at a faster rate than the national average across almost all industries.
• In pre-pandemic times, Hispanic-owned employer businesses generated nearly $500 billion in annual revenue and employed 3.4 million people.

Government Contracting

As a business owner, do you want to sell your products and services to the Federal government?

Each year, the Federal Government awards about 10% of all Federal contract dollars, or roughly $50 billion in contracts, to Small Disadvantaged Businesses (SDB). To be recognized as an SDB by the Federal Government, you must register your business with the federal government. You can do this online through https://www.sba.gov/federal-contracting/contracting-assistance-programs/small-disadvantaged-business.

Getting recognized by the state of CA as a Small Disadvantaged Business is different than with the Federal Government. The state of CA recognition/certification is called the Disadvantaged Business Enterprise (DBE) certification. You can do this online through https://dot.ca.gov/programs/civil-rights/dbe-certification-information.

If you seek help with s Federal Government contracting or state of CA government contracting, including registrations and certifications, please contact the SBA’s local approved service-providers (see below).

1. Monterey Bay Procurement Technical Assistance Center (PTAC) http://montereybayptac.org
2. Golden State Procurement Technical Assistance Center (PTAC) https://goldenstateptac.com
3. MCSC Kern Women’s Business Center, https://www.mcscorp.org

Program Benefits

Non Disaster Loan Programs – 504 Loan

The CDC/504 Loan Program provides long-term, fixed rate financing of up to $5 million for major fixed assets that promote business growth and job creation.

504 loans are available through Certified Development Companies (CDCs), SBA’s community-based partners who regulate non-profits and promote economic development within their communities. CDCs are certified and regulated by SBA.

To be eligible for a 504 Loan, your business must: 

• Operate as a for-profit company in the United States or its possessions
• Have a tangible net worth of less than $15 million
• Have an average net income of less than $5 million after federal income taxes for the two years preceding your application

A 504 loan  can be used for a range of assets that promote business growth and job creation. These include the purchase or construction of: 

• Existing buildings or land 
• New facilities 
• Long-term machinery and equipment

Or the improvement or modernization of: 

• Land, streets, utilities, parking lots and landscaping 
• Existing facilities 

A 504 loan  cannot  be used for: 

• Working capital or inventory 
• Consolidating, repaying or refinancing debt 
• Speculation or investment in rental real estate

Learn more

International Trade

Export goods to increase your profits, reduce market dependence, and stabilize seasonal sales. Connect with SBA resources and partners to get help exporting.

Nearly 96 percent of consumers live outside the United States, and two-thirds of the world’s purchasing power is in foreign countries. If you’re a small business owner, here’s how to work with the U.S. Small Business Administration (SBA) for your trade needs.

Most U.S. banks view loans for exporters as risky. This makes it harder for you to get loans for things like day-to-day operations, advance orders with suppliers, and refinancing existing debts. That’s why SBA created programs to provide lenders with up to a 90 percent guaranty on export loans.

To  learn more about SBA export loan programs, contact your local SBA Export Finance Manager or SBA’s Office of International Trade. 

See a list of participating export lenders.

Learning Center

#DYK that the SBA has a FREE online Learning Center for your business?

That’s right, with numerous topics related to small business, you can start, grow and expand your small business!

Topics include:

Plan- Research, plan and document your ideas.

Launch- Turn your business plan into a reality

Manage- Master day-to-day operations to run your business

Market- Understand your competition and strategies to win customers.

Grow- Expand by finding new funding, customers, and locations.

Click on the link below and start-

Learning Center

Central California Small Business Development Centers

The SBDC Network serves 14 counties in Central California with six dedicated SBDC Centers.

Our expert Business Advisors will work with you and your company across multiple disciplines, whether it’s preparing a strategic plan, developing digital marketing strategies, streamlining operations, accessing capital, or launching an innovative technology start-up.

Contact your local SBDC Service Center to arrange a no-obligation meeting to learn more about how we can be of assistance. For more information on the Center nearest you, visit our Locations page.

Contact SBDC

Womens Business Centers

Mission Community Services Corporation (MCSC) formed in 1998 and is a 501(c)3 that has been host to the Small Business Administration Women’s Business Center (WBC) since October 2006.

MCSC’s Women’s Business Center is  full-service, technical assistance and training resource for entrepreneurs of all stages. Special focus is directed to underserved low-to-moderate income minority women. Although we operate as the Women’s Business Center we inclusively serve all small businesses. Our service territory covers San Luis Obispo, Kern, and Monterey counties. 

MCSC is in its 15th continuous year and was recognized as the 2020 Women’s Business Center of the Year for the San Joaquin Valley and Central Coast Region.

Contact WBC

Veteran Business Outreach Centers

The Center provides small business services to Veterans, DVBE, Reservist and Guard Members in their initiatives to start, cultivate or expand a business initiative.

The Center offers  small business training services in areas of business development, marketing, sources of capital, government contracting, financial management, operational infrastructure design and implementation, acquisitions and mergers, employee relations, business planning and much more.

Educational workshops are offered in areas of Business Basics, Marketing, Franchising, Business Plan Development, Financing and Government Contracting.

Contact VBOC

SCORE

We believe that anyone can start a small business with the right support. We also know that the road is harder for some than for others. SCORE for All is the bridge that makes the journey to success more direct and sure-footed for entrepreneurs who need more support.

Diverse backgrounds, different voices and unique needs may call for specialized resources or a personalized approaches in mentoring.  SCORE is listening, recognizes and fulfills these diverse needs in a wholly inclusive platform called SCORE for All.

Contact SCORE