The Minority Business Development Agency (MBDA) an the United States Small Business Administration (SBA) have joined forces with the Asian Pacific Revolving Loan Fund f Los Angeles (APRLFLA) sponsoring a conference entitled “Where’s The Money? Accessing Capital  in Tough  Times” The conference took place in July at the SBA Conference Room, Glendale,  that included participation by representatives  of  Bank of America, Wachovia and Cathay Bank.

The purpose of the conference is to provide existing small business owners with information about how to secure the financing they need during a time when financial institutions are tightening their belts. In addition to hearing from Bank of America, Wachovia Bank, Cathay Bank, and co-sponsor Asian Pacific about what the banks are now looking for in a loan request, existing owners who are seeking loans from $50,000 and up learned how to access free or low-cost consulting services, provided by MBDA, to help them put together a successful loan package.

“We know it’s tough out there,” said Alberto G. Alvarado, district director of SBA,
who was key note speaker  for the conference.  “Our goal is to give business owners a clear  idea of just what  they’re up against, while  providing  a road map and some real tools to help get them where they want  to go.”

Larger small manufactures with sales above $2 million per year also learned how to qualify for the Industrial Development Bond program through the City of Los Angeles, which provides financing for buildings and equipment up to $10,000 million. Dan Sieu, president of Asian Pacific. along with his staff provided advisory services for the City of
Loa Angeles in this IDB program

Joining forces sponsoring the conference from the left: Tim Maschler, Director of Marketing and Development, Asian Pacific Revolving Loan Fund of LA; Natalie Orta, Chief of Business Development Division, SBA Los Angeles District Office; Maria D. Acosta, Los Angeles Area Manager, U.S. Department of Commerce - Minority Business Development Agency; Alberto Alvarado, District Director, SBA Los Angeles District Office.