LBCC Extends Application Date for $50K Loan for Small Businesses, Start-Ups

Long Beach City College (LBCC) announced today that startup companies and small businesses focused on advanced manufacturing, biomedical devices and clean energy technologies have nine extra days to apply for a $50K loan. The 2014-2015 Innovation Fund SoCal’s funding cycle will now end at noon on December 10, 2014, instead of December 1.

To stimulate regional entrepreneurial activity, wealth creation and social prosperity, the loan created in 2013 in partnership with the Ewing Marion Kauffman Foundation is a no-interest, non-collateralized loan. Funding and mentoring promising entrepreneurs in the process of launching innovative startup companies with high-growth potential is the sole initiative.

The awardees will be selected through a competitive process that includes the initial application, an interview and two rounds of pitches before a decision is made. Panels will be comprised of a cross-section of professionals with technical, industry, financial, business commercialization and startup experience and expertise. The final round of pitching will take place in front of a live audience during the 2015 Innovate!SoCal Conference on March 26, 2015.

LBCC was recently named the 2014 Entrepreneurial College by the National Association for Community College Entrepreneurship. The college is a host to a number of entrepreneurial and small business initiatives including Goldman Sachs 10,000 Small Businesses and the Los Angeles Regional Small Business Development Center.

Awards will be made in the amount of a $50,000 no-interest and non-collateralized loan with a 1:1 match requirement from the startup. For more information including the process and how to apply click here.

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