Long Beach City College has received a grant from the US Small Business Administration to support veteran small businesses — one of six organizations across the country selected for the money.
LBCC receives $375,000.
The US Small Business Administration supports the aspirations of small business owners and entrepreneurs and is the only cabinet-level federal agency focused solely on small business. It offers advice, capital and contract expertise.
Through its statewide Veterans Business Outreach Center program, SBA provides support for veterans entering the world of business ownership by providing resources such as funding programs, training, and state contract opportunities.
According to a press release, LBCC was selected by the SBA as one of six organizations to receive the scholarship because the college has demonstrated its commitment to addressing the challenges faced by veteran-owned small businesses and helping them thrive .
LBCC will also now be a designated Veterans Business Outreach Center.
“LBCC has long supported small business entrepreneurship across the region and we are always proud to have served our seasoned entrepreneurs,” said Herlinda Chico, president of the Long Beach Community College District Board of Trustees, in a statement.
“This grant will allow us to significantly expand our current efforts,” she added, “by customizing services and bringing resources directly to our region’s military facilities to help active military personnel, veterans and their families make the transition to civilian life.” to reach.”
The annual, renewable grant will support a range of services including providing veterans with training and advice in accounting, financial planning and management; help them understand the variety of sources of capital available; assistance in accessing finance, loans and grants; providing marketing and outreach services to promote veterans businesses in their communities and beyond; and providing instruction to help active duty military members transition out of the military.
As a Veterans Business Outreach Center, LBCC will provide services on bases to support active duty military members who are about to make the transition to civilian life, as well as family members and dependents of military personnel who also wish to start their own small business, college officials said.
This outreach center program joins LBCC’s other economic development programs, which include the Los Angeles Regional Small Business Development Center Network and the Goldman Sachs 10,000 Small Businesses at LBCC.
In the United States, small, veteran-run businesses employ more than 5 million people and generate more than $1.3 trillion in annual revenue, according to the press release announcing grant recipients.
“We are honored to assist military members in transition, veterans, National Guard and Reserve members, and military spouses to start and grow their businesses,” said LBCC Superintendent President Mike Muñoz. “It’s a way we can help boost the local economy and advance our California Community Colleges’ mission to support the development of our local small businesses.”
