Youth Business America: Our Next Steps
With the generous support of community partners, donors and volunteers, Youth Business America has successfully completed its pilot program in the San Francisco Bay Area.
Over the past three years, Youth Business America:
Abel 1950 Ice Cream
Big Dipper Baby Food
CalGreen Distribution Co.
Double Dutch Sweets
Eco Performance Builders
Hillside Supper Club
Lucina’s Kitchen Frozen Empanadas
Lexie’s Frozen Custard
Lux Premier Events
Michael Pound Chiropractic
Pacific Brewing Laboratory
Pine Street Brewery
Sour Flour Baking Company
Students with Muscle Moving Company
Subpar Miniature Golf
Wise Sons Delicatessen
Many of these businesses would not have received reasonable loans from any other source, and several would not be in operation today, but for the help they received from YBA.
YBA’s success has been a direct product of the support that our program, our entrepreneurs, and our mission received from our donors, volunteer mentors and partner organizations throughout the Bay Area and beyond.
YBA is particularly grateful for the generous donations and in-kind support provided by:
Perkins Coie LLP
To grow our impact and support even more young people starting businesses in the Bay Area, YBA joined forces in 2013 with Oakland Business Development Corporation (OBDC), an Oakland-based non-profit micro-lender (www.obdc.com).
OBDC has taken over the YBA loan portfolio, and has pledged to build the revolving YBA loan fund to at least $1.8 million, which it will permanently dedicate to small business loans ($10,000 to $50,000) to young people in the Bay Area, at reasonable interest rates. Under this new program, no borrower will be denied a loan solely for lack of business experience, or for lack of collateral. And OBDC will provide its young entrepreneurs with access to business advising and mentorship.
In this way, YBA’s mission of providing affordable loans and business mentorship to young people starting businesses in the Bay Area will be served far into the future.