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California (Los Angeles)

California (Los Angeles) District Office

Los Angeles area entrepreneurs are finding a way to “open for business” with the help of small SBA loans, underwritten by a unique program spearheaded by Innovative Bank (IB). This plucky little financial institution recently acquired the Bank of Oakland and then proceeded to carve out a niche in the $5,000 SBA Loan marketplace, using Nevada as a testing ground. Now IB has entered Los Angeles and in a dramatic fashion and is focused on Minority Business Enterprise and its limitless number of small office home office based businesses. Thus, evolved the acronym for IB’s product ---SOHO.

Lillian Pernell started L.E. Pernell & Associates as a sole proprietorship. Her initial product line consisted of management consulting services in areas that Ms. Pernell had personally garnered specific experience while working in different industry situations. Office automation, business application, electric data interchange, and funds transfer were several of her areas of expertise in which her clients expressed an interest.

How does a start-up construction company go from being a home-based business to arrive at a level where it operates from two offices, has a dozen contracts, supports 15 full-time construction managers at multiple sites on an aggregate of nearly $10 million of awards?

Ms. Arlene Dotzler founded North Coast Construction in 1997. As a woman-owned sole proprietorship in what is often thought to be a male-dominated industry, Ms. Dotzler soon found the going tough in all aspects of the business. It was particularly difficult to acquire and maintain a significant volume of construction contracts to reach that point of critical mass needed to carry a business through potential economic downturns.

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