The City of Palm Springs has announced its plans to invest in a Small Business Entrepreneur Pilot Program in collaboration with the Caravanserai Project. This project, powered by the Orange County/Inland Empire SBDC Network, aims to provide a safe space for entrepreneurs to receive the support they need in order to succeed.
The Caravanserai Project takes its name from the historical caravanserais that were known as meeting places along trade routes from Asia to North Africa to Southeast Europe. This metaphor reflects the project's mission to create a supportive environment for entrepreneurs on their journey towards success.
The Small Business Entrepreneur Pilot Program will specifically target early-stage entrepreneurs from historically underserved communities, including women, LGBTQ individuals, veterans, African Americans, Spanish-speaking populations, immigrants regardless of their legal status, and persons with disabilities. These communities often face ongoing discrimination and barriers to opening new businesses. The goal of the program is to provide financial security, economic mobility, and systemic change for these entrepreneurs.
Mihai Patru, the Caravanserai Executive Director, emphasized the importance of financial backing alongside business support for entrepreneurs in historically underserved communities. He stated, "The synergy of financial backing and business support is the catalyst that propels these entrepreneurs towards success. The City of Palm Springs' dedication to investing in local small, minority, and diverse businesses is poised to create a lasting positive effect on our business ecosystem, laying a robust foundation for its sustained growth."
To participate in the program, applicants must complete a four-month business program and meet certain eligibility requirements. Upon completion, entrepreneurs will receive capital assistance to support their early-stage business planning and development, helping them establish a strong presence within the community.
The newly opened Caravanserai Project center, located at 2150 E. Tahquitz Canyon Way in Palm Springs, will serve as the hub for this pilot program. The center aims to provide entrepreneurs with the resources and guidance they need to succeed in their business ventures.
Mayor Jeffrey Bernstein expressed his commitment to supporting small business entrepreneurs, particularly those from underserved communities. He stated, "This new pilot program is a step in the right direction when it comes to ensuring Palm Springs is a place for everyone who wants to start a new business." Mayor Bernstein also highlighted the city's recent expansion of its economic development efforts, including the hiring of a new Chief Economic Development Officer and the formation of a Business Retention & Economic Development Subcommittee. These initiatives have created new commercial business districts and actively promote the city's small, locally owned, and unique businesses.
With the launch of the Small Business Entrepreneur Pilot Program, the City of Palm Springs is taking a proactive approach to support entrepreneurs from historically underserved communities. By providing business training, access to capital, and ongoing support, this program will pave the way for financial security, economic mobility, and systemic change in Palm Springs' small business ecosystem.
For more information about the program, visit the Caravanserai Project's website at caravanseraiproject.org.