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UC Merced SBDC Clients Obtained More than $56 Million in Financing
The University of California, Merced, Small Business Development Center Regional Network (UCM-SBDC) clients obtained $56.4 million in financing for small businesses during the FY 2012-13 federal fiscal year.
The funding, in the form of loans and equity, is another example of how the network fosters entrepreneurship that helps grow and diversify Central California's economy. The recent figures are more than double the financing that clients obtained in 2011-12.
The Small Business Development Center services are offered throughout Central California under the leadership of the University of California, Merced. The network is a nationally accredited program that works with California State University campuses at Fresno State, Bakersfield, Monterey Bay and San Luis Obispo, along with the Alliance SBDC in Modesto and Merced. This network's footprint covers a 15-county region in Central California.
"UC Merced SBDC Regional Network has done an exemplary job in raising the bar on job creation and economic development in Central California," said Carlos Mendoza, district director for the U.S. Small Business Administration, Fresno District Office. "This is a wonderful success story for our region and the communities."
Fostering entrepreneurship and growing small businesses are the foundation for job creation and the region’s economic vitality. The network provided business-consulting assistance to 1,873 small businesses, and 3,539 entrepreneurs participated in training events throughout the year. In addition, the SBDC helped 124 new businesses open to create 528 jobs.
“We value our partnership with the U.S. Small Business Administration to support small business and entrepreneurial assistance throughout Central California. We have a dedicated team of professionals who provide outstanding assistance in order to build successful and sustainable business communities,” said Diane Howerton, regional director.
The UC Merced SBDC Regional Network is one of 63 state programs in the America’s Small Business Development Center Network. This nationally recognized program is the most comprehensive small business assistance network in the United States and its territories. The mission of the network is to help new entrepreneurs realize their dream of business ownership and help existing businesses remain competitive in the complex marketplace of an ever-changing global economy.
Hosted by leading universities, colleges and state economic development agencies, and funded in part through a partnership with the U.S. Small Business Administration, approximately 1,000 service centers are available to provide no-cost business consulting and low-cost training.
More information on the UC Merced SBDC Regional Network is online.