Happy holidays from all of your friends at Bank of San Francisco!
We are pleased to announce that we will be making a contribution to TMC Development Working Solutions on behalf of our clients and other friends of the Bank. We believe that there is no better way to show our holiday spirit than by making a contribution to an organization that supports our vibrant, local community. Working Solutions does just that.
PRESS RELEASE ***
IN RESPONSE TO CREDIT CRISIS, MAYOR NEWSOM LAUNCHES SAN FRANCISCO SMALL BUSINESS LOAN FUND
TMC Development Working Solutions Selected to Operate the Fund
SAN FRANCISCO, CA – In response to the ongoing credit crisis, Mayor Gavin Newsom announced today that TMC Development Working Solutions (Working Solutions) has been selected to work with the City and County of San Francisco to administer the city’s new Small Business Revolving Loan Fund (RLF).
The RLF will provide microloans of up to $50,000 to small businesses operating in San Francisco that create and retain jobs for low-to-moderate income San Francisco residents. RLF microloan interest rates will range from 4% to 6% with a loan term not to exceed 5 years. A total of $800,000 in Federal funds will be given to Working Solutions to administer the program over the next two years, with the possibility of additional Federal funds being added. In addition, Working Solutions plans to leverage the city’s funds with up to $1 million in private capital.
“All cities should be offering this type of financing for small businesses who need a boost during these tough economic times,” said Mayor Newsom. “We anticipate that there will be a high demand for these loans.”
On December 2nd, 2008 Working Solutions hosted the first annual Working Solutions gift bazaar. In an effort to further promote and support Working Solutions microloan clients each micro-entrepreneur in Working Solutions portfolio was invited to sell their wares during the event. The result was a unique and festive holiday shopping experience which was hugely successful!
These are the Working Solutions clients – local Bay Area micro-entrepreneurs – which promoted their products and services at the bazaar:
I have some exciting news to share with you. . .
I received a letter this week from Mark Quinn of the U.S. Small Business Administration informing me that I’ve been nominated for the Financial Services Champion of the Year Award during Small Business Week this May!
The Financial Services Champion category is part of the Small Business Champion awards and recognizes “individuals who assist small businesses through advocacy efforts to increase the usefulness and availability of accounting or financial services for small businesses.”
I couldn’t be more proud to receive this nomination!
This year San Francisco’s celebration of Small Business Week will take place May 15-20th. I will forward more information as it becomes available for anyone who is interested.
Thank you so much for your continued support of Working Solutions and my efforts.
Emily Gasner, Working SolutionsProgram Director
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Working Solutions is a 501(c)(3) nonprofit organization that provides undeserved micro-entrepreneurs with the access to capital and resources they need to successfully start or grow a business. Working Solutions’ goals are to strengthen the economy, create jobs, and build strong communities through it’s economic development activities. To learn more about Working Solutions, please visit www.tmcworkingsolutions.org.
TMC provides financial support to Working Solutions and is proud of Emily’s accomplishments.