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4 <br />Status update an Orange County Small Business Loan Program <br />MapleView ice cream as well as an extensive assomnent of locally-produced craft items. The <br />Depot also serves as an evening venue for local bands and art films. <br />Status Update -Previous Loan Awards <br />Phd Productions, LLC. Ixi November 2010 the Loan Program issued a follow up loan to Phd <br />Productions, LLC (Phd), a Hillsborough company that created the Phd PocketDiscTM, a <br />handmade, crocheted, flying disc that is making quite a splash in the toy and promotional <br />markets. Phd was awarded an initial loan in November 2009, and as the capacity of the Loan <br />Program at that time did not allow full funding of Phd's Ioan request, the November 20101oan <br />allowed the Loan Program to fully fund this company. Phd operates as a fair-trade company <br />catering to a variety of markets, including toys, sporting goods and promotional items. <br />Phd recently reported that they have received `starter orders' from both the Whole Foods <br />(Texas) and Walgreens (Louisiana) regional offices. They also received several custom disc <br />orders from clients that include Google, Chaco shoes, and two summer camps in North <br />Carolina. Phd continues to emphasize their charitable side, with recent deals with major <br />charities, including Boosterthon Fun Run, which raises money for K-12 schools, and Soles for <br />Souls, an international shoe charity. <br />Santosha Service Compan~The Loan Program's initial loan in May 2009 was provided to this <br />commercial cleaning company. Santosha continues to expand their customer base of industrial <br />and institutional clients. <br />Snmmary <br />With the approval of five loans to four very dynamic local-companies, the Loan Program <br />continues gain momentum in providing capital to Iocal small businesses. Several additional <br />applications are currently under-review by the Board of~irectors with additional loans <br />anticipated in the nea-r future. <br />This Program is an essential piece to growing the small_business component of Orange County's <br />Economic Development strategy by fostering growth in our thriving entrepreneur sector. <br />Proposed updates to the 'Operating Policies' will add flexibility to the Loan Program and allow <br />it to efficiently serve an expanded client base. The Loan Program is developing into a <br />successful example of Orange County's commitment to economic development, and the support <br />of the BOCC is a fundamental reason for this success. <br />Page 2 of 2 June 21, 2011 <br />