Ventura Partners: Experience •Incubator 1, cont'd

...PREPARING, TRAINING & SELECTING BUSINESSES (cont'd)

• Developed twelve complete business plans, with the
   assistance of the incubator, for commercial ventures to be
   owned and operated by low-income individuals.

• Helped select five businesses to continue through the
   incubator program and establish operations in down-
   town Santa Cruz.

FINANCING OPPORTUNITIES FOR NEW BUSINESSES

• Established a Revolving Loan Fund through the incu-
   bator program with $50,000 in CDBG funds from the City
i  of Santa Cruz, to be used for financing incubator busi-
   nesses on favorable terms.

• Established a Revolving Equity Fund through the incu
   -bator program with $20,000 from the Packard Foundation
   to be used as equity capital for investment into incubator
   businesses.

TRAINING AND SUPPORT FOR NEW BUSINESSES

• Facilited advanced training to businesses selected for
   ongoing incubator participation.

• Provided direct support services, including
   bookkeeping, accounting and payroll, to incubator business
   free of charge for the first six months of operation.