Chamber promotes new small business loan

Local small business owners may soon be lining up to capitalize on two assistance programs designed to offer a financial helping hand for new companies.

The Agoura/Oak Park/Conejo Valley Chamber of Commerce has teamed with the Economic Development Corp (VEDC) and the United Chambers of Commerce to form an alliance that will benefit small business owners operating in areas that the Chamber serves.

The loans will be up to $1 million.

The city of Agoura Hills will unveil details on a similar program for business startups within Agoura Hills at its April 26 city council meeting.

Louis Masry, president of the local Chamber, said the alliance was formed to offer qualified small or disadvantaged businesses low interest loans up to $1 million, complete with state of California guarantees. The VEDC will be the lead agency in offering the loans, said Masry.

"(The assistance program) was formed to provide much needed capital for our local business owners," Masry said.

Masry said the program will offer businesses other types of assistance, including financial and business planning, managing and marketing assistance, and additional support services.

The Chamber will conduct seminars and meet with businesses to analyze loan qualifications and to help determine which loan program is most suitable.

Seminar topics will also include business plan basics, business marketing basics and startup tips.

Roberto Barragan, VEDC president, discussed the program at last Tuesday's Chamber of Commerce breakfast meeting.

Agoura Hills City Councilmember Harry Schwarz also pushed for a financial assistance program for small businesses during his campaign for the council last fall.

"Mom and pop stores are really the heart and soul of the community," Schwarz said.

The city's economic development committee is forming a task force, which will include local business owners, citizens, city staff workers and city council members, Schwarz said. Council members Dan Kuperberg and William Koehler are members of the economic development committee.

"The task force will look into it, in terms of loans, grants, facilitation with the Small Business Association-or we might do it ourselves," Schwarz said.

Schwarz views the dual efforts of the Chamber and the city as a "win-win" situation for the business community.

"What we want to do is reach out to the small business community," he said. "It's not a contest. We want to help the small business community . . .We're serious about it."