To celebrate Black History Month, Congresswoman Maxine Waters (D-CA) joined local businessman Ron Gibson, owner of The Level Up Store, Dr. Tara Lynn Gray, Director, California Office of the Small Business Advocate (CalOSBA), and CAMEO Network members to emphasize the importance of small businesses in local economies and spotlight California’s entrepreneurial ecosystem that supports their success.
Representatives from Macedonia Community Development Corporation (Macedonia CDC), CAMEO Network, CalOSBA, and Mission Valley Bank joined Gibson and Congresswoman Waters at the grand re-opening last week to show that it takes a village to raise a business.
“I was sitting on the curb in front of The Level Up Store when I saw a car make a U-turn and stop in front of me. It was Congresswoman Maxine Waters who wanted to introduce herself to me,” said Ron Gibson, owner of The Level Up Store. “By the end of the conversation, she understood I needed working capital but could not get approved for a loan. It was then she said Macedonia CDC will help you and now here I am, buying the inventory I need.”
“We’ve got a lot of creative people who are working out of their garages and their houses and they’re creating stuff, but they can’t get in the market in the way that someone could who’s got a lot of money,” said Congresswoman Waters. “For our community, for a young entrepreneur to get fifty grand from a bank who trusts them and says ‘I want to work with you and we can do more’ is something that we should recognize as a real possibility.”
After being denied by several traditional lenders for capital, Gibson turned to CAMEO Network member Macedonia CDC for free business coaching and support to obtain a business loan. Macedonia CDC helped Gibson prepare his loan application and connected him to Mission Valley Bank, a community bank and community development financial institution (CDFI), where he successfully applied for an affordable loan to finance the re-launch of his business.
Macedonia CDC and Mission Valley Bank are examples of CAMEO Network’s 400 plus members made up of CDFIs and business coaching organizations that annually support more than 200,000 small business owners, like Mr. Gibson, that support 300,000 jobs, and $15 billion in economic activity, contributing to state and federal coffers with sales and income tax revenue.
Macedonia CDC also receives funding from CalOSBA as part of the SCALE Network managed by CAMEO Network. SCALE (Success, Capital Access and Leadership for Entrepreneurs) partners help businesses in under-resourced communities across the state access more resources to start, grow, and create jobs.
“Businesses like The Level Up Store are great reminders of why California is committed to investing in entrepreneurs through our SCALE program,” said CalOSBA Director Gray. “When small businesses have the resources they need to grow, they create jobs, build wealth, and strengthen our communities. California remains focused on closing gaps and removing barriers so that every small business owner can reach their full economic potential.”
Carolina Martinez, CAMEO Network CEO, emphasized the importance of a strong small business ecosystem so that all entrepreneurs in California, like Mr. Gibson, can have access to the coaching and capital they need to succeed.
“Ron Gibson’s journey exemplifies the grit of California’s entrepreneurs and the power of a strong support system for small businesses and the need for the SCALE program,” said Martinez. “We’re grateful to Rep. Maxine Waters, the California Office of the Small Business Advocate, and all of California’s small business advocates for their work in championing businesses like The Level Up Store. When small businesses have access to the coaching, capital, and networks they need to thrive, our entire economy is better off.”
The support that Gibson received from Macedonia CDC was also made possible by a $1 million multi-year Community Project Funding grant facilitated by Congresswoman Waters through the Housing and Urban Development (HUD) Office of Community Planning – Congressional Grants Division.