PCR Small Business Program Partnership Proposal for The City of Culver City March 13, 2024 I. Proposal Overview PCR Business Finance (PCR), a trusted 501(c)(3) nonprofit organization, proposes a two-year small
business
program
to
support
the
small
businesses
of
Culver
City.
The
program’s
purpose
is
to
help
businesses
be
financially
stable,
have
long-term
success,
and
generate
economic
development
and
vitality
for
the
City.
PCR will provide critical, specialized services with its Small Business Development Center (SBDC)
program
to
Culver
City
Small
Businesses.
Services
would
be
free
of
charge
to
the
city’s
small
businesses
and
will
include
personalized
one-on-one
advising
and
workshops
for
registered
entrepreneurs.
The
advising
sessions
are
strategically
designed
to
address
the
specific
needs
of
small
business
owners,
including
building
financial
literacy,
preparing
for
loan
readiness,
and
improving
marketing
and
sales
capabilities.
The
program
will
include
workshops
and
create
a
cohort
program
that
at
completion
provides
a
small
grant
to
the
entrepreneurs.
The
services
ultimately
foster
sustainable
business
growth
and
economic
resilience.
Each year the partnership contribution is $15,000 annually for two years with the option to extend
one
year.
II. Organization's Mission The primary mission of PCR Business Finance is the promotion of community economic development,
through
the
delivery
of
financial,
educational,
and
advisory
services
to
underserved
small
business
persons
and
communities.
III. Background PCR Business Finance (PCR), founded in 1977, is a non-profit Community Development Financial
Institution
(CDFI).
PCR
engages,
inspires,
and
fosters
small
businesses
focused
on
Los
Angeles
County
with
financial
resources
including
loans
and
grants,
focused
advising,
and
training.
As
a
result,
small
businesses
are
adaptable
and
positioned
for
sustainable
growth
leading
to
new
business
formation,
job
creation,
funding,
and
a
healthy
Los
Angeles
area
economy.
Mark
Robertson
Sr.
has
served
as
PCR’s
President/CEO
for
twenty-three
(23)
years
after
seventeen
(17)
years
in
banking.
As a CDFI, PCR is also a mission-based lender to target underserved entrepreneurs.
PCR
offers
a
variety
of
loan
programs
ranging
from
$10,000
micro-loans
for
low-wealth
start-up
businesses
to
the
SBA
Community
Advantage
SBA
targeting
low-income
and
1 underserved communities. The organization also offers several loan options including SBA
loans
and
participation
with
the
California
State
Guarantee
Loan
program.
Starting in 2014, PCR has managed the BIF (Business Interruption Fund) on behalf of the local
Metropolitan
Transportation
Authority
(METRO)
which,
as
it
builds
rail
projects
for
transportation,
disrupts
the
mom-and-pop
small
businesses
located
along
those
routes.
The
BIF
allows
PCR
to
fund
small
business
grants
up
to
$60,000
annually
to
reimburse
those
businesses
for
lost
revenues.
Since
its
inception,
PCR
has
awarded
447
small
businesses
that
were
impacted
by
METRO
construction
impact.
A
total
of
1,652
grants
for
$42.4
million.
In the spring of 2022, PCR changed its DBA (Doing Business As) name and logo to PCR Business
Finance
from
Pacific
Coast
Regional
Small
Business
Development
Corp
to
better
reflect
the
loan
and
advisory
services
offered.
The Small Business Development Center Program
The Small Business Development Center (SBDC) program is the U.S. Small Business Administration's
(SBA)
most
extensive
economic
development
initiative,
dedicated
to
assisting
small
businesses
in
job
creation
and
bolstering
local
economies.
As
the
SBA's
largest
counseling
and
training
network,
SBDCs
operate
in
every
U.S.
state
and
territory.
Professional
business
advisors,
equipped
with
substantial
real-world
experience,
provide
one-on-one
business
advising
at
no
cost,
and
offer
seminars
and
workshops
on
topics
such
as
business
planning,
incorporation,
capital
sourcing,
marketing,
contracting,
procurement,
and
technology,
often
at
no
or
low
cost.
According to the most recent data available from 2022-2023, America's SBDCs have made significant
contributions:
● Jobs Created : 80,995 new jobs, equating to one new job every 6.5 minutes. ● Sales Growth : Clients reported $6.6 billion in sales, averaging $100,000 in sales every
7.9 minutes.
● Financing Obtained : Clients secured $6.49 billion in financing, averaging $100,000 every
8.1 minutes.
● New Business Starts : 15,794 new businesses were launched by SBDC pre-venture in-depth
clients,
averaging
one
new
business
every
33.3 minutes.
These figures underscore the pivotal role SBDCs play in fostering job creation and economic development
nationwide.
Since 2007, PCR has operated the PCR SBDC and provided services directly to clients in Los
Angeles
County,
including
the
City
of
Los
Angeles,
Culver
City,
and
other
neighboring
2 cities. PCR has actively participated in the City’s task forces (ERTF(Economic Resilience Task
Force)
and
EVTF(Economic
Vitality
Task
Force))
during
and
after
the
pandemic,
providing
key
resources
and
assisting
small
businesses
referred
by
the
City.
PCR
SBDC
also
hosted
a
joint
workshop
with
the
City
and
California
Bank
and
Trust
on
the
subject
of
Social
Media
and
Marketing.
The need for assistance to small businesses has grown dramatically as evidenced by the number
of
PCR
SBDC
clients
served.
Before
the
COVID-19
pandemic
shutdown,
PCR
SBDC
served
nearly
480
clients.
At
the
peak
of
the
pandemic,
the
SBDC
served
2200
clients
and
in
2024
served
1900
clients.
IV. Goals Of Partnering With The City Of Culver City The City of Culver City would like to partner with PCR Business Finance to leverage funding
and
resources
to
deliver
a
robust
and
expanded
economic
development
program focused on the small businesses of Culver City. The primary goals for the partnership are: ● Business Creation: Support Culver City entrepreneurs in the creation of new businesses
● Business Expansion: Assist Culver City businesses to grow, resulting in job creation
● Business Retention: Ensure businesses succeed to help retain jobs in Culver City ● Business Attraction: Use the availability of technical assistance to attract new businesses
to
Culver
City
The partnership’s success is dependent on leveraging existing programs currently provided by both entities (PCR and the City of Culver City): Such programs include: PCR Programs For training and business advising focused on business owners: ● SBDC - One-on-one advising for businesses that are starting and growing ● SBDC - Workshops and seminars taught to members of the community For Partnering with economic development organizations ● Chambers of Commerce ● Business Districts ● Financial Institutions City of Culver City Programs ● Business Support Programs: ○ The Business Resource Center ○ Love Local, Buy Local Program 3
○ Becoming a City Vendor V. Proposed Services and Activities PCR proposes the following services and activities to generate economic impact for the City
of
Culver
City.
Areas of Impact 1. New Business Startups: Nurturing and guiding entrepreneurs from ideation to successful
launch.
2. Jobs Created and Retained: Contributing to local economies through business expansion
and
job
opportunities.
3. Capital Infusion: Assisting businesses in securing necessary funding for growth and
development.
Services Provided 1. PCR Cohort Program and Management ○ Series of workshops with required one-on-one advising (4- hours) and completion
of
business
assignments
with
an
annual
cohort
of
small
businesses
who
are
celebrated
for
completing
the
series.
This
may
include
a
City
celebration
ceremony
and
a
small
grant
from
the
City
upon
completion.
The
cohort
would
hold
monthly
workshops
over
4 months.
The
maximum
number
of
cohort
participants
is
30 businesses
to
ensure
sharing
of
best
practices
and
the
development
of
valuable
resources.
2. PCR SBDC Business Advising and Assistance ○ One-on-one Business Advising to Culver City Businesses one-on-one business
in
areas
including
finance,
access
to
capital,
marketing,
business
planning,
management
and
operations,
and
more.
(Business
advising
is
also
available
in
Spanish.)
3. PCR SBDC Entrepreneur Workshops ○ Providing accessible online training sessions on essential business topics like
starting
a
business,
building
a
business
plan,
developing
business
projections,
cash
flow
management,
balance
sheet
management,
and
how
to
access
credit.
4. Specialized PCR SBDC Workshops ○ Workshops customized for Culver City focused on current or emerging subjects,
business
trends
regulations,
and
on
specific
industry
sectors
such
as
restaurants.
Sample
topics
include
4 ■ Financial Fitness for Informed Decision Making ■ Marketing using AI ■ Supplier Development and preparation for the Olympics and other major
sports
and
entertainment
events.
Each year the partnership contribution is $15,000 annually for two years with the option to extend
one
year.
VI. Program Coordination and Reporting The program will be implemented in collaboration with the City, with regular collective impact
meetings
to
ensure
alignment
and
address
the
needs
of
small
business
owners.
To
maintain
transparency
and
accountability,
the
SBDC
will
be
responsible
for
collecting
data
and
submitting
bi-annual
reports
and
a
year-end
report
to
the
City.
These
reports
will
include
the
following
metrics:
● Demographics: number of program participants with business in the city ● New (startup) vs existing businesses assisted ● Number of clients receiving one-on-one business advising services ● Number of hours of one-on-one advising provided ● Number of workshops provided and attendance at each workshop ● Capital infusion (# of transactions) VII. Service Delivery PCR SBDC provides advising and workshops virtually and may also take place on an as-needed
basis
at
SBDC
client
business
locations
and
at
Culver
City
locations
deemed
appropriate
for
in-person
training.
VIII. Marketing and Outreach
Both the City and PCR SBDC will collaborate on joint marketing efforts to maximize outreach
and
engagement
with
small
business
owners.
This
includes
co-branding
promotional
materials,
sharing
program
updates
through
respective
communication
channels,
and
leveraging
social
media,
newsletters,
and
community
events
to
increase
visibility.
Both
parties
will
coordinate
messaging
to
ensure
consistency
and
alignment
with
program
goals.
Regular
check-ins
will
be
held
to
assess
the
effectiveness
of
marketing
strategies
and
make
necessary
adjustments
to
enhance
reach
and
impact.
5 IX. Key Staff and Contact information ● Senior Leader Name and Email: Mark J. Robertson, Sr., President/CEO, [email protected] ● Program Management Name and Email: ○ Colette Moore, SVP/Program Manager (Director-SBDC), [email protected] ○ China Naylor, VP/Assistant Program Manager (Associate Director-SBDC), [email protected] ● Other information: Phone Number: (213) 739-2999 Fax Number: (213) 739-0639 Website Address: https://pcrcorp.org/ The services provided under this Agreement may be modified in conjunction with the City to
support
the
City's
economic
development
goals.
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