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Achievements

The following outlines the BDC's achievements since 1992:

• Assisted over 6,000 start-up and existing businesses , facilitating the establishment of 600 new businesses in Central/South Central Los Angeles & San Gabriel Valley
• Created over 1000 jobs, retained 3000 since 1992
• Assist 800 to 1,200 new and existing businesses each year

Procurement:

• 20 SBA 8A & MBE Certifications resulting in $50 million in procurement contracts
• 100% success rate in securing 20 SBA 8A and MBE certifications

Programs:

• Top LABAP agency in Los Angeles 2004-5 in terms of businesses start-ups, jobs created loans packaged, Total Counseling Hours, Total Training Hours, Total Enrollments.
• Number 1 United Way Individual Development Account (IDA) contractor in County of Los Angeles (2003, 2004, 2005). 111 IDA accounts established (one year goal: 17 accounts).
• Number 1 among Coordinating Partners in Trickle Up Grants in California , Number 3 in the USA (2004).
• Hewlett Packard Micro-enterprise Grant Awardee – 2003 - One of nine awardees nationwide, out of 528 applications. $275,000 in equipment and services, state-of-the-art Computer Training Lab in PACE Headquarters office.
• Successful alignment of PACE BDC and Westlake WorkSource Programs – Westlake Workforce Program funded PACE BDC to provide workshops to WorkSource employers. (12 workshops provided)
• Comerica Bank Technical Assistance Initiative - 2002 : Credit Repair Workshops and TA: Yearly goals in Workshops Held, Total Workshop Hours, # of Participants and Total 1-on-1 TA hours surpassed during the two year duration of the program. 170 individuals participated in Credit Repair workshops. 35 participants received 122 hours of technical assistance, in order to enable them to improve their credit scores, and therefore their chances of receiving loans.
• Facilitated the launch of forty (40) new micro-enterprises among participants of the Los Angeles City Welfare-to-Work program, enabling individuals to leave the welfare rolls, and, in some cases, to develop enterprises employing other welfare recipients as well

Loan Packaging:

• Packaged over $30 million in loans, including $1.85 million in SBA Disaster Loans for 69 travel-related businesses impacted by the September 11 World Trade Center and Pentagon disasters.
• Facilitated over 150 micro-loans for BDC program participants in 2001-2004.
• Top producer of SBA Disaster Loan Packages in City of Los Angeles (Airport Assistance Project) – 2001- 2002. 31 SBA Disaster loans processed for $1.85 million. 47% of total all assistance to affected businesses was provided by PACE. 69 businesses assisted.
• Top producer of SBA loans and B of A Credit lines in the State of California under the Bank of America Technical Assistance Initiative (2002). 62 applicants processed. 2001-2002.