AGENCY SPOTLIGHT
contractor business because if you can ’ t bank your payroll and can ’ t purchase materials , it ’ s going to be hard for you to sustain , let alone thrive – a lack of working capital will hold you back and keep you small .
We ’ ve created the Contractor Accelerated Payment Program ( CAPP ) in partnership with the City to allow LBE contractors access from day one to funding for work that they ’ ve been awarded with the City , so that they have resources to be able to cover their first payroll , to purchase needed materials , and to bridge the cash flow gap between when they have to expend funds and when they get paid . We ’ d love to do some strategic , targeted outreach with you for City projects , particularly in Bayview , to make small contractors aware that this resource is available , get them pre-qualified and up to speed about what they need to do in order to access this funding and to provide them with the City ’ s support throughout the process .
Shamann Walton : I definitely look forward to following up with outreach . Our small contractors need to know about every opportunity that ’ s available – anything that we can do to make life easier for our small businesses , especially as we try to recover from this pandemic , which we are still very much in the midst of dealing with . I think that we ’ ve done a pretty good job as a city , but we are going to continue to work on more policies to continue to promote , support and create opportunities for our small business community here in the City .
Ingrid Merriwether : Great , we ’ ll look forward to announcing some upcoming outreach events with you . On the flip side , what would you like to see LBEs do to play a more active role themselves in the communities in which they reside ?
Shamann Walton : I would love to see everyone start with creating job opportunities , making sure that we are employing folks who live in the community – our LBE community does a good job of this . I love seeing LBEs find opportunities to support our non-profits and communitybased organizations . Also , having LBEs support other LBEs – depending on what type of business you are , make sure that whenever you can , you are sourcing products or services from other small businesses within your community . These are the types of actions that make for a thriving commercial corridor and a thriving community , and I would like to see an increase in all of these areas .
Ingrid Merriwether : To underscore some of the points you ’ ve made , there are multiple policies , strategies and actions which can support the social , economic and long-term well-being of our communities . One point that I would also like to add is that a lot of people don ’ t realize that LBE development and inclusion doesn ’ t just have social and community benefits – there are quantifiable business and economic benefits to increasing the pool of contractors that are qualified to bid on projects , because more “ enabled ” competition leads to contract savings through more competitive low bids . When LBEs are given the support to be able to bid on public agency projects and are the successful low bidder , the City can ultimately save taxpayers ’ money . In other words , reducing the structural and systemic barriers to allow more contractors to participate drives down costs , equating to a win-win for all stakeholders .
View a PDF to learn more about the Contractor Accelerated Payment Program ( CAPP ) [ will upload and add link to the one-page CAPP PDF that you provided ]
Additional Resources shared by Supervisor Walton ’ s Office :
08 - imwis . com