Made possible by the City of Goleta in partnership with Women’s Economic Ventures
Women’s Economic Ventures (WEV) is still accepting applications from Goleta- based businesses for ReStart Loans up to $25,000 each (administered by WEV). In August, the City of Goleta and WEV collaborated to create a loan program to assist Goleta-based businesses during the pandemic. With the extended period of requirements to maintain safe operating conditions and meet tighter State regulations, local businesses may need additional support. Goleta ReStart Loan information and application (in English and Spanish) are available at www.wevonline.org/loans-2/restart/ .
City of Goleta Mayor Paula Perotte said, “The WEV ReStart Loan program will provide immediate funding on favorable terms and WEV’s highly-regarded financial expertise to our small businesses.”
The City of Goleta contributed $200,000 to support the small business loan program. Goleta ReStart Loans from WEV will provide capital to Goleta-based businesses who are now open or eligible to open under the most current government orders (subject to change based on updated orders) related to COVID-19. Loan applications are now being accepted and will be reviewed on a rolling basis until loan funds have been depleted.
“Business owners consistently say community support is a key factor in sustaining their resolve through the pandemic,” shared WEV CEO Kathy Odell. “Our ReStart Loans will provide the capital necessary to retain employees, modify business practices and acquire new equipment and/or supplies required for safe re-opening. Additionally, ReStart Loan recipients are eligible to receive business advisory services from WEV.”
Mayor Perotte added, “It’s amazing what we can do when great organizations work together to support our small businesses during this unprecedented time of economic upheaval resulting from the COVID-19 pandemic. The City is proud to partner with Women’s Economic Ventures (WEV) on these much-needed financial support programs to assist Goleta small businesses.”
Women’s Economic Ventures is dedicated to creating an equitable and just society through the economic empowerment of women. WEV provides training, consulting, and loans to help entrepreneurs start, grow, and thrive in business. WEV serves Santa Barbara and Ventura counties. While WEV targets its services toward women, it helps men as well. Services are provided in both English and Spanish.
Since 1991, WEV has provided business training and consulting to more than 17,500 women and men throughout Santa Barbara and Ventura counties. WEV has made over $6 million in business loans and helped more than 5,000 local businesses start or expand. WEV-supported businesses generate more than $300 million in annual sales revenues and have created nearly 9,400 local jobs. WEV is a U.S. Small Business Administration’s Women’s Business Center, and a certified Community Development Financial Institution (CDFI).