And we try to make sure that we communicate this information to them so that their businesses can come either to us or be prepared to borrow with the bank, whichever way they want to go
In fact, there’s a great one in Philadelphia near me. They tend to affiliate with universities. So the one in Philly is Temple University. And you’re absolutely right, I have a lot of clients that’s used small business development centers, SCORE, women’s business. These are all free services by experienced people. The small business development centers often use grad students and PhDs business majors at the universities, as well as people external to provide advice for business owners. And it’s a huge service. It’s a really great service.
Our goal is to educate everyone that needs to understand how SBA functions and how to utilize the program to the best of their ability because again, for instance, if a business wants to start up and they’re being denied by a lender, they might not know where to go
Jon: What’s interesting there, because you were talking about getting kind of into business. Or how does SBA kind of think about that? Is it really kind of geared towards startup or kind of growing something that might be existing?
Julio: No, we don’t have no limitations funding wise. For instance, in each state, there is no limitation. I don’t have a goal. I don’t set goals for my staff, the district director, neither as to whether they’re nascent businesses, startups. And so these chats are the only way of communication. We don’t have a budget to do advertisement. We don’t advertise ourselves. Most of our information goes out by word of mouth or through these type of interviews where people then say, “Oh wow, I didn’t know that SBA provided this assistance.”
And then now we pick on these additional clients SCORE, SPDC, the Women’s Business Centers, all have goals of reaching out. They get funded to making sure that they reach out to any and all businesses that need assistance. They have capital goals in terms of how much money that their program is providing into the small business world. And this is how they’re measured on an annual basis. And then we review that because we don’t have the bodies or the individuals that do. We do a lot of the webinars and a lot of the mass communication. But the one on ones, we try to have the resource partners handle those. And not only that, we reach out to the chambers, the Hispanic chambers, also we have Asian chambers. We have LGBT chambers. We have a lot of organizations that really want to work with us.
Jon: Not everyone understands that business funding is a little bit different from personal lending or a lot bit different.
Jon: But when you’re thinking about someone who might kind of be looking for a financing to start their own business. Some people prepare for that. It’s a well calculated move over time. They kind of plan out. They might have a job. They might have a goal. They have a dream. They kind of build towards that. Sometimes I think during COVID, we actually saw this with the dramatic increase and the amount of small businesses kind of created across the Fairfield payday loan providers country. It’s this kind of reaction to a moment in time where the pressure that kind of drives, like I could do this, or I have an idea, or I just can’t do what I’m doing anymore because the world is so different that I kind of need a change. And they might not have their credit in order. They might not have kind of that plan. What and how can people think about SBA lending for that?