“The SBDC was a great source of information and introductions. They quickly assessed my requirements and knew where to take my financing request. They paved the way to the lender with a warm introduction and the initial facts required to get the lender to move quickly. They helped me to obtain a great result in the shortest possible time.”
Darryl Stallworth is an attorney specializing in the area of criminal defense. His experience includes 15 years in the Alameda County District Attorney’s Office, where he tried over 50 cases and resolved over 10,000 cases during his tenure.
His practice emphasizes not only criminal defense but also a belief in crime prevention. Service to his clients includes both his legal services and informing clients and the community at large about alternatives to create positive and safer lifestyles. Mr. Stallworth recently produced and narrated a DVD for the benefit of at risk youth titled Staying Out of Jail.
In 2010, Mr. Stallworth moved to his new office at 2355 Broadway in Oakland, California. While the new rent was much more attractive than at his prior location, up front funds were required to fund the move, purchase of new equipment and fixtures. In addition, Mr. Stallworth desired additional funds to market and promote his practice.
The 2010 banking environment was difficult for almost all small businesses, whether healthy or not. Mr. Stallworth contacted the Alameda County SBDC to inquire if we had access to and knowledge of banking sources who would consider lending in this situation.
The ACSBDC assessed the situation and believed the situation was one that would be considered and likely funded by the Oakland Business Development Corporation (OBDC), an SBA lender. Mr. Ohlrich made an initial high level introduction at a meeting with ODBC officers. The SBDC then summarized the request in more detail and sent it to a senior executive at the OBDC with his comments regarding the merits of the potential loan to the lender and the community.
Mr. Stallworth and the OBDC exchanged information, and Mr. Stallworth filled out the forms required for the loan underwriting. Within four weeks of the first contact, Mr. Stallworth obtained an SBA microloan for $35,000.