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SACRAMENTO – Executive Director of the California Infrastructure and Economic Development Bank (I-Bank) Teveia Barnes announced that the U.S. Department of Treasury has authorized an additional $27 million in federal funding for the California Small Business Loan Guarantee Program (SBLGP) to provide loans to California small business owners and entrepreneurs.
“California’s small businesses owners will have even greater access to capital which will allow them to expand their businesses and create jobs,” said Barnes. “The Treasury’s allocation of additional funds further demonstrates that the state is effectively managing our small business lending programs and the I-Bank will continue to offer to expanded loan opportunities to business owners across California.”
The funding comes as part of the State Small Business Credit Initiative (SSBCI) which was created by the Small Business Jobs Act of 2010 and signed into law by President Obama in 2010.
Funded with $1.5 billion, the program is expected to spur up to $15 billion in new lending to small businesses and manufacturers as states use federal funds to leverage private investment dollars.
SSBCI federal funds are available to state-run programs that work with private lenders to increase the credit available to small businesses, with the understanding that the aim is to have at least $10 in new private lending produced from every dollar in federal funding.
Combined with the previous allocation, the I-Bank will leverage hundreds of million dollars in loan guarantees for loans from banks, credit unions and other lenders to California small businesses.
“California is successfully leveraging federal SSBCI funds to attract new loans and investments to the state’s small businesses,” said Cyrus Amir-Mokri, Treasury Assistant Secretary for Financial Institutions. “These funds will continue to help the state partner with local entrepreneurs and small business owners to access new sources of capital, help create jobs and power the economic recovery.”
California's SBLGP originated over forty years ago with the mandate of providing repayment guarantees to lenders of loans to small businesses having difficulty securing financing on their own. The guarantees are issued by nonprofit Financial Development Corporations (FDCs).
Currently, there are 11 FDCs servicing the state. FDCs partner with banks, credit unions, and other lenders to help small business owners finance their plans including expanding operations, purchasing new equipment and infusing businesses with working capital.
Guarantees may also be issued on loans for start-up costs. In fiscal year 2012-13, the program issued guarantees totaling $71,615,382 and supported the creation or retention of 5,666 jobs.
In total, California is receiving $55,645,861 for two programs including the SBLGP and California Capital Access Program (CalCAP) at the California State Treasurer’s Office.
“These funds will launch a new wave of lending that will help small businesses thrive, expand and create jobs,” said California State Treasurer Bill Lockyer. “Microloans have been especially successful in helping businesses in low-and moderate-income communities.” Half of this disbursement of federal funds will be used by the California Capital Access Program, which is administered by the State Treasurer’s Office and encourages lenders to make low-cost loans to small businesses that have difficulty obtaining financing.
In October 2013, Governor Brown signed AB 1247 (Medina) which transferred the SBLG to the I-Bank, located within the Governor’s Office of Business and Economic Development (GO-Biz). This action was supported by the small business community which pushed for more small business financing options.
The I-Bank was created in 1994 to finance public infrastructure and private development that promote a healthy climate for jobs, contribute to a strong economy and improve the quality of life in California communities.
The I-Bank is located within the Governor's Office of Business and Economic Development and is governed by a five-member board of directors. It has broad authority to issue tax-exempt and taxable revenue bonds, provide financing to public agencies, provide credit enhancements, acquire or lease facilities, and leverage state and federal funds.
Find more information at http://www.ibank.ca.gov .
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KELSEYVILLE, Calif. – The Lake County Winegrape Commission is graduating its second class of Master Vigneron Academy participants, a select group of supervisors and foremen from Lake County vineyards.
Seven individuals completed this year’s courses and will be honored at a graduation ceremony Feb. 4, from 11 a.m. to 1:30 p.m., at the Soper-Reese Community Theatre, 275 S. Main St. in Lakeport.
The academy graduates for 2013 are Moises Aguilar and Francisco Duarte, Beckstoffer Vineyards, Red Hills; Octavio and Adolfo Calvillo, Rogers Vineyards; Jason Webb, Stonehouse Cellars; Juan Ramirez Arroyo, Robinson Lake Vineyards; and Jose Garcia, JAC, Lake County.
Vineyard owners interested in enrolling their supervisors and foremen in the 2014 Master Vigneron class are invited to attend the graduation event.
Graduation festivities will include information about the academy, a ceremony to honor the graduates and a buffet lunch. Graduates will receive a Master Vigneron certificate along with a Master Vigneron-branded cowboy hat and pruner holster.
Advanced registration for attendance is required. Call the commission office at 707-279-2633.
The first of its kind in the state, the Master Vigneron Academy was launched in 2012 by the commission and is a year-long series of training sessions intended to “build capacity and effectiveness” of vineyard workers.
Designed for Spanish-speaking vineyard supervisors working in Lake County, the academy educates mid-level vineyard supervisors about their roles and responsibilities in implementing quality winegrowing practices and farm worker productivity.
The sessions provide a broad view of the industry with an introduction to the roles of the nursery and winery, aspects of business and finance, and current concepts of personnel management.
Key topics include vineyard development, canopy management, economics, personnel management and wine quality.
Students learn about tools to strengthen their knowledge of viticulture and the wine industry and visit several sites including wineries, U.C. Davis, Foundation Plant Services, nurseries, as well as vineyards throughout the North Coast.
According to Lake County Winegrape Commission Education Coordinator Paul Zellman, the commission’s goal with its Master Vigneron Academy is two-fold: production of high-quality winegrapes and professional development of extraordinary vineyard supervisors.
The anticipated result is higher quality outputs in the vineyard with more efficient and skilled employees.
The commission’s education committee chairman, Randy Krag of Beckstoffer Vineyards, is credited with the concept of the Master Vigneron Academy. Zellman coordinates the program on behalf of the Commission.
Master Vigneron Academy participants meet monthly January through August with a break for the harvest months of September and October before concluding with a meeting in November.
“Better-trained supervisors will have greater confidence and develop into more valued managers,” Zellman said. “It is hoped that employers will recognize this, leading to enhanced advancement opportunities in the vineyard and wine community.”
The Master Vigneron Academy Class of 2014 will travel to the Unified Wine & Grape Symposium in Sacramento to participate in Spanish-language sessions and take a guided tour of the trade show. Transportation and lunch are provided.
The Lake County Winegrape Commission is a marketing order established in 1991 to promote the region’s premium winegrapes and to assist winegrape growers.
For further information about the Master Vigneron Academy, call the commission office at 707-279-2633 or visit www.lakecountywinegrape.org .
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DAVIS, Calif. – Assemblymember Mariko Yamada (D-Davis), Chair of the Assembly Select Committee on Sustainable and Organic Agriculture, will hold an informational hearing entitled, “Agritourism in California: Opportunities and Challenges of Becoming a Destination.”
The hearing will be held at 2 p.m. on Thursday, Jan. 23, at UC Davis in King Hall, Kalmanovitz Appellate Courtroom- Room 1001.
“As more Californians become interested in locally sourced food, the desire for more interaction with growers and farmers also increases,” stated Assemblymember Yamada. “Farmers are responding by seeking new and innovative ways to include attractions like corn mazes, pumpkin patches and wine tasting, but legal issues surrounding these activities remain.”
Agritourism is defined as any commercial enterprise on a working farm or ranch created for the enjoyment or education of visitors and generates supplemental income for the owner.
Activities may include farm stands or shops, fairs, festivals, winery weddings, youth camps, hunting or fishing, and more.
The hearing will explore the obstacles encountered in establishing agritourism destinations and explore opportunities for state and local governments to assist farmers considering an agritourism operation.
Panelists include leaders of the University of California Small Farm Program; Solano/Yolo Farmbudsman Michelle Stephens; and farmers who have added agritourism elements to their farms.
Members of the public are welcome to attend.
For more information on the hearing, please contact 916-319-2004.
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- Written by: John Jensen
After enjoying substantial price decreases, Californian motorists are starting to see a slight upward movement at the gas pumps.
State gas prices are now $0.05 cents more than a month ago, according to the AAA Northern California monthly gas survey.
Northern California’s average price for a gallon of regular unleaded gasoline is $3.64, that’s $0.05 cents higher since last month’s AAA report on December 10, 2013.
For perspective, gas prices today are $0.02 more than California’s average price on this date last year.
“Although California state prices are up by $0.05 cents from a month ago, motorists today are paying $0.03 cents less than a week ago,” said Cynthia Harris, AAA Northern California spokesperson. “Typically in January there is a weak demand for gasoline, and the fact that supplies of crude are ample, we will probably not see any major spike in prices at the present time.”
The national average price is $3.31. This is same as Monday and a week ago but $0.05 higher than last month’s report on Dec. 10, and $0.01 higher than a year ago. The national average price has stayed within a tight range this past month.
After reaching a more than two-month high of $3.33 on Jan. 3, the national average price dropped for nine of 11 days. Although the price fell, the decrease was less than $0.02 during this time.
Midwestern states, bearing the brunt of extreme winter storms, have seen dramatic increases in their average prices this past week with some increases over $0.20 per gallon.
West Texas Intermediate (WTI) crude oil settled above the $100 per barrel mark one day, Dec. 27, ending a streak of nine consecutive weeks below the three digit threshold. WTI prices have dropped back toward the $90 per barrel threshold.
The sharp decline in prices has been attributed to a stronger U.S. dollar, the return of Libyan crude to the global market, further easing of geopolitical tensions with Iran, and continued concerns surrounding weak domestic demand for gasoline.
The decline continued Monday as WTI prices settled 92 cents lower at $91.80 per barrel at the close of formal trading of the NYMEX. This mark is just $0.14 higher than the settlement recorded last Thursday, which was the lowest price since May 1.
The least expensive average price in Northern California can be found in Marysville, where regular unleaded gasoline is $3.49 per gallon.
Of all the metro areas in Northern California, where gas prices are tracked by AAA, Eureka has the highest average price at $3.78.
Hawaii reports the highest average price in the country, $4.02, and is the only state with an average price over $4.
Connecticut has the highest price, $3.69, in the contiguous states. Missouri and Montana have the lowest average price, $3.02. No states report an average price under the $3 mark.
To get the best mileage possible, AAA recommends keeping tires at the proper pressure suggested by the vehicle manufacturer, performing routine maintenance and making sure fluids are clean and belts and hoses are in good repair.
The way you drive also can impact fuel economy. Smooth driving to avoid sudden stops and starts, combining trips and lightening your load also helps conserve gasoline.
AAA’s Fuel Gauge Report is the most comprehensive retail gasoline survey available, with over 100,000 self-serve stations surveyed every day, nationwide. Data is provided in cooperation with OPIS Energy Group and Wright Express LLC.