2. 2
INVESTING IN AWESOME
Sisters Leah and Stephanie Melnik started out packing
boxes of Leah’s handmade bars to send to family and
friends. In 2013, Awesome Bars hit a growth point, and
they were looking for a loan. The sisters weren’t making
any progress with bank loans, so they asked Urban
Solutions for some help. Urban Solutions put Leah and
Stephanie in touch with OBDC. “Working with OBDC
was a dream. They understood where we were coming
from as a small business and knew that we needed a
loan with a fast turn-around time,” Stephanie said. Now,
Awesome Bars are selling in coffee shops from Santa
Rosa to Los Angeles.
LEAH & STEPHANIE
AWESOME BARS
SAN FRANCISCO
Letter From CEO......................... 3
Our Mission and Values.............. 4
How We Help............................... 5
Impact of our Work..................... 6
Oakland Program........................ 8
San Francisco Program................ 10
Veterans Program........................ 12
Our Team..................................... 14
Supporters................................... 15
TABLE OF CONTENTS
Background photo on cover: Visit Oakland, Joshua Winzeler.
3. Dear Friends,
OBDC is proud to celebrate 36 years of helping small business owners realize their
entrepreneurial dreams. Through the support of our partners, the hard work of
our dedicated staff, the leadership of our board, and the commitment of so many
talented entrepreneurs, OBDC is making an important difference in people’s lives.
What does economic opportunity look like? It looks like financially sustainable
small businesses, higher employment rates, and vitality in commercial corridors.
It looks like asset-building for entrepreneurs, increased income and savings in
low-to-moderate income communities, and increased access to goods and services.
We’re proud to say that we have made 627 loans and originated $41 million in loan
capital to Bay Area business owners in the last ten years. We’re honored to support
local business owners who are making a positive difference in their communities.
We’re excited to share our impacts with you, along with some of the personal
stories of the small business owners we have the pleasure of working with.
Throughout this report you will see our core values of opportunity, diversity,
empowerment, innovation, and partnership reflected in our work.
As a community-based organization we rely on the support of people like you.
Together, we can empower small business owners to succeed, transforming their
lives, and helping communities thrive. We invite you to help us in furthering our
reach and impact. If you share these values, stay connected by signing up for
our newsletter, refer businesses to our services, and most importantly, shop with
OBDC-funded businesses.
We appreciate your support and look forward to continuing to build inclusive
prosperity in our communities.
Jacob Singer, President & CEO Wendell W. Jones II, Board Chair
4. 4
MISSION
Our mission is to create economic opportunity by empowering entrepreneurs.
Through innovative partnerships we provide business owners with the capital,
education, and relationships that allow them to flourish. Our collaborative
approach helps our borrowers create jobs and stimulates economic
development in low-to-moderate income communities.
VISION
Our vision is to empower small business owners to succeed,
transforming their lives, and helping their communities thrive.
CORE VALUES
For the last 36 years, OBDC has embodied core values that guide our strategy,
daily work, and relationships with our borrowers, partners, and the community.
OPPORTUNITY DIVERSITY EMPOWERMENT INNOVATION PARTNERSHIP
OPPORTUNITY
DIVERSITY
EMPOWERMENT
INNOVATION
PARTNERSHIP
OPPORTUNITY DIVERSITY EMPOWERMENT INNOVATION PARTNERSHIP
STRENGTHS
We complement our core values with capabilities that combine to make
OBDC uniquely equipped to meet the needs of our communities.
• Expertise
• Commitment
• Capacity
OUR MISSION & VALUES
CHICKEN + WAFFLES = SUCCESS
Owner and Chef Tanya Holland received a
loan for Brown Sugar Kitchen in 2008. She
came back to OBDC in 2011 for support
in opening her newest venture, B-Side
BBQ. “When the banks and private equity
investors would not provide sufficient
capital, if any, OBDC took a chance.”
TANYA
BROWN SUGAR
KITCHEN
OAKLAND
5. Small businesses bring essential goods and services to
our communities, are effective job creators, and help local
economies grow. Investment in small businesses creates wealth
for the business owner, income for employees, and safety and
enhanced livability for the community.
SMALL BUSINESS LOANS
We offer quick, affordable, term loans ranging from $10,000
to $250,000 in Oakland, San Francisco, and to veteran-owned
businesses in California.
BUSINESS DEVELOPMENT SERVICES
In addition to lending services, OBDC provides no-cost business
development services to help borrowers become loan-ready,
operate profitable businesses, and create jobs.
Pre-Loan Support
Each entrepreneur receives one-on-one support from a
business development officer during the loan application
process, including:
• Understanding borrowing needs
• Advising on financial performance and projections
• Advising on business plan
Post-Loan Support
• One-on-one advising with OBDC staff
• Financial performance check-ins
• Workshops and events through OBDC and our
community partners
• Newsletters with updates, opportunities, and business
management tips
• Free expert advisor through businessadvising.org
• Townsquared’s online social network to connect with
local businesses
FastTrac™
OBDC’s FastTrac program through the Kauffman Foundation
provides business training programs to start or grow
successful businesses.
HOW WE HELP
6. 6
Our work builds self-sustaining, vibrant, local economies. Small businesses make
up the backbone of local economic activity in cities, sustaining communities that
depend on high quality local jobs, goods, and services within their neighborhoods.
That stability in turn creates a safer and more livable environment for all.
OBDC also works closely with cities on key economic development objectives
along community corridors. By empowering people at the local level,
entrepreneurs and employees create positive community impact.
These loans supported:
• 188 start-up businesses
• 205 businesses located in low-to-moderate income neighborhoods
• 179 businesses with a low-to-moderate income owner
• 161 women-owned businesses
• 151 minority-owned businesses
With OBDC’s capital, these companies created and sustained more than
2,600 jobs in the last five years.
THE IMPACT OF OUR WORK
Food & Beverage
Professional Services
Retail
Health & Beauty
Arts & Entertainment
Education
Manufacturing
OUR BORROWERS
BY INDUSTRY
IN THE L AST 5 YEARS
$23MILLION 323INTO BUSINESSESOBDC HAS INVESTED
8. 8
CHALLENGE IMPACT
Oakland’s unemployment and poverty
rates remain high, despite the region’s
economic recovery.
Every year, OBDC-funded businesses in
Oakland generate more than 500 new
jobs, many filled by low-to-moderate
income Oakland residents.
Oakland loses tax revenue and access
to essential goods and services when
people shop outside of Oakland.
Vacant stores depress real estate
values and create blight, increasing
public safety concerns.
OBDC drives capital into struggling
commercial corridors. For example,
OBDC accelerated its efforts along
the Broadway Corridor, adding 30
businesses in 18 months to the 60
already previously supported, thanks to
support from the Citi Foundation.
Access to capital continues to be
a challenge for businesspeople of
color in Oakland who don’t qualify
for bank financing.
OBDC has a distinguished track
record of making sure our services and
capital are deployed in parity with the
communities in which we operate. OBDC
has originated 300 loans totaling $26
million over the last 10 years in Oakland.
Last fiscal year, 26% of our Oakland loans
were to African American borrowers.
OAKLAND’S RENAISSANCE:
RESPONDING TO CHALLENGES, MAKING IMPACTS
The common denominator
among the entrepreneurs we see
in Oakland is that they have a
sense of its cultural diversity and
community, and understand the
value, and often the relevance,
of being here.
SCOTT LEWIS
Senior Vice President –
Oakland Market Manager
OBDC HAS INVESTED
VETERAN-OWNED
BUSINESSES
INTO
$1.4 MILLION
NEARLY BUSINESSES NATIONWIDE ARE VETERAN-OWNEDIN1 10
14
IN THE L AST 10 YEARS
OBDC HAS
ORIGINATED 300LOANS
IN OAKLAND $26MILLIONTOTALING
9. A TASTE OF JAMAICA IN OAKLAND
“With OBDC’s help we opened our restaurant in
November 2013, and Kingston 11 achieved a lot of
milestones in the first year, including breaking even.
Now, our goal is profitability as we try to be the best
restaurant in Oakland,” says Nigel Jones. Kingston 11
is truly a part of Oakland, and their business employs
30 people from the community. Nigel notes, “Oakland
is a diverse city, and we want our restaurant to reflect
the community. From our management team to our
customer service approach, we reflect Oakland.”
Now, Nigel sees OBDC as a trusted partner: “If we have
questions or need advice, I feel 100% confident that I
can reach out to Scott and to OBDC. I know the advice
I get will be sound and helpful for my business.”
NIGEL & ADRIAN
KINGSTON 11
OAKLAND
10. LIGHT-UP A START-UP
In the fall of 2012, Max Gunawan designed a light that
allows people to have beautiful lighting anywhere.
In February 2013, he launched the product on
Kickstarter, and Lumio was born; a year later Lumio’s
products were selling in the MOMA store in New
York City and in high-end design shops across the
globe. A financial advisor recommended that Max
look into SBA loans for his business. He was nervous
about the process, because Max’s design studio was
a crowd-funded start-up. “We were an oddball,”
Max said, “but the whole process moved really fast.
I don’t know what I would have done if it wasn’t for
OBDC, because there weren’t any other options.”
MAX
LUMIO
SAN FRANCISCO
10
11. CHALLENGE IMPACT
Small businesses in San Francisco make
up 97% of businesses and employ 63%
of workers – they are a vital element
in keeping San Francisco diverse and
livable. Businesses need access to
capital and expertise to be a part of
San Francisco’s prosperity.
OBDC’s successful partnership with
the city of San Francisco is designed
to support the city’s small business
community, especially companies
located in low-to-moderate income
areas. Over the last five years, OBDC
has deployed 74 loans totaling over
$5 million in San Francisco.
Despite the city’s economic
achievements, many of the city’s
neighborhood corridors, especially
those in low-to-moderate income areas,
continue to struggle with rising prices
and demographic changes.
OBDC works closely with city
government to support and develop
businesses in the city’s 26 Invest In
Neighborhood areas.
Despite the city’s low unemployment
rate, jobs for low-to-moderate income
people who lack training continues to
be a challenge.
Over the last five years, OBDC’s
portfolio has created or sustained
400 jobs in San Francisco.
EMPOWERING SAN FRANCISCO’S
URBAN ENTREPRENEURS
San Francisco is a melting
pot of small businesses, and it’s
exciting to provide capital in a city
that supports startup and growing
businesses. There are so many
good ideas and companies that have
evolved by people who have the
courage to put theory into practice.
I’ve enjoyed the opportunity to work
with entrepreneurs from different
walks of life who are all joined by
the same goal.
DARIUS MAHAJER
Senior Vice President –
San Francisco Market Manager
OBDC HAS INVESTED
VETERAN-OWNED
BUSINESSES
INTO
$1.4 MILLION
BUSINESSES NATIONWIDE ARE VETERAN-OWNEDIN1 10
OBDC BORROWERS IN
SAN FRANCISCO
14
IN THE L AST 10 YEARS
OBDC HAS
ORIGINATED
IN THE L AST 5 YEARS
300LOANS
IN OAKLAND $26MILLIONTOTALING
CREATED/SUSTAINED 400 JOBS
12. 12
As a veteran myself, I enjoy
helping my fellow veterans with the
often challenging and unclear aspects
of getting the capital needed to start,
manage, and grow small businesses.
The value and impact provided by
veteran small business owners is
tremendous given its implications to
our communities in terms of business
leadership, jobs, quality of life,
financial viability, and asset-building.
Given the tremendous sacrifices
veterans make, there are no words
that can adequately capture how
rewarding it is for me to be able to
help veterans in this way.
NOAH HARRIS
Vice President –
Veterans Program
PARTNERING WITH VETERANS
OBDC HAS INVESTED
VETERAN-OWNED
BUSINESSES
INTO
$1.4 MILLION
BUSINESSES NATIONWIDE ARE VETERAN-OWNEDIN1 10
14
IN THE L AST 10 YEARS
OBDC HAS LOANS
Started in 2014, OBDC’s Veterans Program provides training, capital, and support
for new and existing veteran-owned businesses. Veterans struggle with both
employment and access to business capital. They have the skills and motivation to
become small business owners, and are 45% more likely to pursue self-employment
than non-veterans. Nearly 1 in 10 businesses nationwide are veteran-owned.
CHALLENGE IMPACT
Veteran’s lack self-employment
opportunities and access to capital for
their businesses.
OBDC has invested $1.4 million into
14 veteran-owned businesses, and the
portfolio is expected to rapidly grow
over the next couple years.
Veterans lack comprehensive business
support services to accompany their
loans and business growth.
OBDC’s FastTrac program through
the Kauffman Foundation is providing
workshops and training to veterans in all
stages of business.
13. HAUTE, HANDSOME FASHION
As a U.S. Navy veteran, Karen Roberts utilizes her
military training as a business owner. “You have
to be disciplined, stay committed, and be able to
change course and make decisions on the fly – just
like a tour of duty,” she commented. Karen came
to OBDC for capital to produce more inventory,
as HauteButch’s sales were starting to decline,
because they didn’t have all the sizes and styles
that their customers were looking for. In addition
to inventory, HauteButch was able to hire several
employees, allowing Karen to focus on running
her business. “It was a pleasant surprise to be
funded by OBDC. I felt really supported during
the process – like OBDC really wanted to help us.”
KAREN
HAUTEBUTCH
SANTA ROSA
14. 14
To truly be a community lender, we believe it is important that our staff and board have strong
cultural competencies and reflect the demographics of our community and clients. We are proud
to have a highly diverse, talented team that can meet the needs of underserved communities.
OUR TEAM
Jacob Singer, PhD
President &
Chief Executive Officer
Noah Harris
Vice President –
Veterans Program
Flor Melara
Assistant Vice President –
Relationship Manager
William Ong
Executive Vice President
& Chief Financial Officer
Jen Leybovich
Vice President –
Strategy & Development
Rachel Aoanan
Manager –
Loan Processing
Scott Lewis
Senior Vice President –
Oakland Market
Manager
Jackie Maxwell
Vice President –
Administration &
Accounting
Mandolin Kadera-Redmond
Manager – Administration
& Accounting
Darius Mahajer
Senior Vice President –
San Francisco Market
Manager
Maopepe Gaoteote
Vice President –
Loan Closing &
Compliance
Paula Groves
Vice President –
Business Consulting
Joyce Windross
Vice President –
Operations
Adrian Gomez Zavala
Assistant Vice President –
Relationship Manager
Kathia Kacic
Assistant Vice President –
Loan Servicing
Katie Taylor
Manager – Marketing
& Special Projects
Bruce Jobson, SPHR
Human Resources
OBDC STAFF
15. As a community development
organization, OBDC embodies the
aspirations, dreams, potential, and
diversity of the greater San Francisco
Bay Area community. Everyone within
this organization is extraordinarily
talented and committed to OBDC’s
mission to empower local entrepreneurs
to be successful. At this stage in
my career, I am thankful to have the
opportunity to work within this group
of diverse, dedicated, and capable
professionals and most importantly to
service the needs of the entrepreneurs
within our community.
SCOTT LEWIS
Senior Vice President –
Oakland Market Manager
Wendell W. Jones II
Chair, Serial CFO
William Taylor
Member,
The Law Office of
William A. Taylor
Gladys Green
Vice-Chair, Oakland
Economic Development
Corporation
Kristina Martin
Member, Citibank
Arthur Washington
Member,
Nor-Cal FDC
Mark Alan Lindquist
Secretary,
M.A. Linquist Co.
Eric Nelson
Member,
Bank of the West
Stephanie Jones
Treasurer,
Wells Fargo
Erwin Reeves
Member,
Richmond Community
Foundation
OBDC BOARD OF DIRECTORS
SUPPORTERS
OBDC is one of the country’s top performing CDFI small business lenders. For a copy of
OBDC’s 2014 audited financial statements, please contact us at updates@obdc.com.
With Financial Support From:
Bank of America
Bank of the West
California Capital Access Program
Calvert Foundation
CDFI Fund
City of Oakland
City of San Francisco
Citi Foundation
Comerica Bank
JPMorgan Chase Foundation
Novogradac Rivers Foundation
Opportunity Finance Network
U.S. Bank
United States Small Business Administration
Wells Fargo
LaSandra Hunt
Member,
JPMorgan Chase
OBDC is a proud member of:
16. www.obdc.com
OAKLAND
2101 Webster Street I Suite 1200
Oakland I CA 94612
SAN FRANCISCO
One Market I Spear Tower I Suite 3528
San Francisco I CA 94105
OBDC Small Business Finance
@obdc_finance
OBDC Small Business Finance
