Small Business Support
With grant funding from the California State Library, the Lompoc
Public Library has opened a Small Business Information Collection.
The collection features books, books-on-tape and CDs, as well as
DVDs in English and Spanish on topics ranging from writing business
plans and taxes to marketing and management. An Internet
station is reserved for small business users conducting businessrelated
online research. Business databases provided through the
grant can be accessed from the library or remotely.
The Lompoc Library is now a Cooperating Library of the prestigious
New York-based Foundation Center. The $1,000 membership
fee was shared by the following partners: Lompoc Community
Development Foundation, Lompoc Mural Society, Lompoc Museum
and Friends of the Library. The Foundation Center’s online database
is now available locally to library users. A collection of books on
grant seeking was also provided as part of the membership.
The city also contracts with the Lompoc Valley Chamber of Commerce to
provide business assistance services, such as to coordinate and
advertise the on-site consultation services and seminars of the U.S. Small Business Development Center; provide business plan,
marketing and other information to start-up businesses; and
provide a business resource library, including Internet connection,
for the research of business-related topics and information. An alternative self-employment training programs are offered by Women's Economic Ventures.
Small Business & Disabled Veteran Business Enterprise opportunities with CalPERS at CalPERS Business Connection. All
services are provided free to the general public. Contact: 805-736-
4567 or lompoc.com.
The Self-Employment Training course “Small Business Success”
has been offered for over three years in the Lompoc Valley. Held at
Allan Hancock College, Lompoc Valley Center and led by Tim
Harrington of TerraLink Consulting, the workshop will be offered in
winter 2008 and will be eight weeks in duration for a total of 21
hours. Guest speakers with first-hand experience in the local business
environment include the owner of R. Lompoc Ace Hardware
and the president of Lompoc Community Bank.
Since the first workshop in fall 2003, 45 individuals representing
businesses from sole proprietors to corporations have attended.
Businesses currently operating in the Lompoc Valley that have
attended the SET course include Amy’s Village Frame Shop, Cards
by Kathy G, Global Vision Computing, Fins-Up Racing Suspension,
Knightlighting, Solutions for People, and Animal Care Hospital.
As banks tighten credit, small-business owners turn to online networks for funds. Individual borrowers and lenders are meeting online. Here are some sites listed in The Wall Street Journal article "Where Either a Borrower Or a Lender Can Be" (March 12, 2008):
- Zopa.com - Lenders get lower returns than on other sites, because Zopa puts the lenders' money in federally-insured certificates of deposit. Lenders can accept a lower CD return, with the difference going to help reduce a borrower's payment.
- LendingClub.com - Approved borrowers post their loan descriptions. Lenders can choose individual borrowers or use the "Lending Match" technology to build a diversified portfolio of loans.
- Prosper.com - Borrowers post listings that detail how much they want to borrow- up to $25,000, repayable over three years -what they're planning to use the money for, and how much they're willing to pay in interest. Prospective lenders bid on the loans and set the minimum rate they are willing to accept.
- VirginMoneyUS.com -Family and friends use the site to set up loan-payment plans. The company handles the paperwork and services the loan.
- GlobeFunder.com -Lenders specify what types of loans they want to make and the site, using decision-matching software, finds loans that meet their criteria. Borrowers choose from a range of recommended interest rates.
- Four Ways to Survive a Downturn - Becki Walker
