AmPac Receives $500,000 to Provide Capital to Inland Empire Small Businesses
The Californer/10087782

GRAND TERRACE, Calif. - Californer -- AmPac Business Capital announces that it has been selected to receive $500,000 from Pacific Western Bank to fund loans designated to support small business expansion in the Inland Empire region and the eastern border of Los Angeles County, including the city of Pomona.

AmPac was chosen to receive the investment because of its strong track record of lending in San Bernardino and Riverside Counties. The community lender has been particularly resourceful during the pandemic, assisting clients with PPP loans and providing much-needed loans to businesses impacted by COVID-19. In just 90 days, AmPac has funded more than $2.2 Million in PPP and Riverside County COVID-19 relief loans for over 140 small businesses.  The average loan size for all of these loans is less than $20,000.

More on The Californer

• Inkdnylon Earns BBB Accreditation for Verified Business Integrity
• Josh Stout "The Western Project"
• California co-leads multi-state lawsuit against CDC's unscientific vaccine recommendations putting public health at risk
• Open House Momentum Builds at Heritage at South Brunswick
• A Celebration of Visibility, Voice and Excellence: The 57th NAACP Image Awards Golf Invitational, Presented by Wells Fargo, A PGD Global Production

With the investment from Pacific Western Bank, AmPac is expanding its CDFI small business loan program. Businesses that have been established at least two years may apply for loans up to $50,000 for general working capital, including inventory, equipment, personnel costs, and related expenses.

"We are excited to receive this generous investment from Pacific Western Bank. It will go a long way to help us to continue the work we have done for many years, serving small businesses and targeting underserved communities, including women and minority owned businesses," said Hilda Kennedy, Founder and President of AmPac Business Capital.

AmPac has a long history of supporting small businesses and has a diverse lending portfolio. Of its $4.6 million in direct loans as of 2019, 41% went to women; 24% to African American owned businesses; and 13% to Latino business owners. Seventy-three percent of the loans went to Low- and Moderate-Income (LMI) borrowers.

More on The Californer

• Athens in Spring: A Culinary City Break That Rivals Paris and Copenhagen
• Frame Story Wins Best Horror at Reader Views Literary Awards
• Hyperglance v9 Launches With New UI and System, Dark, and Light Themes
• ReProp Financial CEO Glenn Goldan to Participate in Out-of-State Lending Discussion at CMA
• ClearSight Therapeutics Signs LOI with Covalent Medical for $60M Multi-Channel OTC Eye Care Partnership

"PWB is proud to invest in the communities where it conducts business and it understands that contributing to the economic vitality of its communities has a positive and measurable effect on the growth and prosperity of those communities and more importantly - makes good business sense!" Pacific Western Bank said in a statement.

AmPac's mission is to finance and foster small business success and job growth in underserved communities and to provide ongoing training and coaching programs to support the businesses' long-term success. When asked why AmPac exists, Kennedy stated, "To make communities better and families stronger as Champions of Job Makers – Small Businesses."

To apply for a loan visit www.ampac.com and click Apply.  For more information on AmPac's loan programs, call the office to speak to an AmPac Business Champion at 909-915-1706.