Business Networking Portal To Launch Monday

Riverside County-based businesses seeking investment partners has a networking portal to connect with prospects.

On Oct. 3, the county Office of Foreign Trade will activate a new page on its website titled "Investment Opportunities.''

"We made the decision to offer this new section ... as a means of attracting qualified investors to businesses here in the county ... in an effort to create new jobs,'' said Foreign Trade Commissioner Tom Freeman.

"Many of our county-based businesses are struggling to expand, add new staff and/or increase production. Most cannot secure loans from our banks,'' he said. "The federal government advises that only 17 percent of businesses seeking a loan last year actually received funding. Our effort in this instance is to encourage domestic and overseas investment in Riverside County-based businesses.''

As of Sept. 26, three companies had already asked to be profiled on the site, according to Freeman.

He said all businesses will be vetted by county staff before they're listed on the Investment Opportunities page.

The Office of Foreign Trade offers various resources to commercial enterprises large and small seeking to grow. Under Freeman's leadership, the county partnered with the U.S. Export-Import Bank to identify local businesses with exporting potential, offering them lines of credit.

The county also promotes itself as a destination for immigrant investors wanting to take advantage of the federal EB-5 green card program, through which foreigners with more than $500,000 to spend bolstering an existing business or starting a new one can become immediately eligible for a conditional work visa. --City New Service; Toni McAllister contributed to this report.