Irvine Spreading Word on Business Loan Pool

A new small-business loan program has helped two businesses better establish themselves in Irvine. The city and the Bankers’ Small Business Community Development Corp. of Orange County have created a loan pool of $1.7 million.

It will provide five-year loans from $5,000 to $50,000. The loans can help established businesses make improvements, purchase equipment or even relocate to Irvine.

The city expects to help five or six small businesses this year.

City spokesman Peter Cox said the biggest challenge will be spreading the word about the program.

A workshop on how to secure loans through the program will be held Wednesday, May 6 from 8 a.m. and 10 a.m. To register, call Cox at (714) 724-6364.

Daryl Strickland covers tourism and small and minority business issues for The Times. He can be reached at (714) 966-5670 and at daryl.strickland@latimes.com