FAQs

The first step is to attend one of our free information sessions. During the session, you will be given the SET or Explore application or next steps and can schedule your enrollment interview.

SET is offered in August and February. Explore is offered in March, June, and October. Classes generally fill one month prior to the start date of the program

Classes are held in Santa Barbara and Ventura, generally at WEV’s offices.

Explore is a flat rate of $125. The SET course is offered on a sliding scale fee based on your current household income, with a minimum tuition of $300 and maximum tuition of $2,600. The sliding scale will be shared at the information session. You will very verify your current income to determine tuition amount at the enrollment appointment with WEV staff.

Yes, all of WEV’s programs and services are available to women and men.

Yes, both would pay tuition since clients are enrolled as individuals. However, you can work together on the same business plan.

Yes. The SET courses take you through the process of writing a complete business plan. We’ve found our clients are most successful when they come into the SET or Explore with one or two clear ideas.

Absolutely! SET is designed for those already in business and many clients come to us with goals of growing and improving their business. Writing a business plan is a great way to stabilize and grow your existing business.

Our classes are offered in the evenings once a week from 6-9pm.

Unfortunately, we are unable to offer child care.

Yes, classes are also offered in Spanish. Please review our Spanish course description and call our office at (805) 456-2383 for more information. Si, se ofrecen cursos en español también. Favor de revisar nuestra página de Capacitación Empresarial y llamar a nuestra oficina al (805) 456-2383 para más información.

Information about loan amounts, fees, use of money and how to apply is available on our Loan Overview and Eligibility pages.

No, you do not need to be a WEV graduate or client to apply for a loan. However, WEV’s Smart Entrepreneurial Training (SET) course will help you complete a business plan, which is a requirement to apply for a loan over $5,000 through WEV’s Loan Program.

1. WEV’s Smart Entrepreneurial Training course. Attend an information session learn more!
2. Your regional Small Business Development Center (SBDC):
   • Santa Barbara County SBDC hosted by the Scheinfeld Center for Entrepreneurship and Innovation and Santa Barbara City College.
   • Ventura County SBDC hosted by the Economic Development Collaborative of Ventura County (EDC-VC)
3. Your regional SCORE chapter:
   • Santa Barbara SCORE
   • Ventura County SCORE

After you submit the initial loan application form, a WEV loan officer will meet with you for an initial loan consultation about your business. Once you have submitted a complete package, which includes documents pertaining to your personal and business finances, the loan team will analyze your request and submit it to the loan committee for decision.

WEV’s loan committee votes monthly on loan applications. Funding can take anywhere from 4 to 6 weeks.

WEV welcomes individuals with all credit scores to apply so that we can discuss your unique situation.

There is no guarantee that a graduate will get a loan. Each loan applicant will be considered individually. Please see our Loan Overview page for complete information.

Collateral means something that you pledge as security to WEV for repayment of your loan. In the event of default, that collateral is forfeited to the lender. For example, a candidate might use their vehicle as collateral to secure a loan from WEV. If that candidate decided not to pay back the loan, WEV has legal rights to repossess the car. WEV will always work with our clients to come to a mutually agreed upon solution before resorting to legal recourse. We encourage you to reach out to a WEV loan officer if you have questions about collateral.

WEV does not offer loans to nonprofit businesses.

WEV focuses on serving women because women face greater barriers in accessing financing from traditional lenders such as banks. However, we can lend to anyone with a business that demonstrates the potential to be profitable, regardless of ownership structure or gender.

We welcome loan applications from start-up businesses. The strongest candidates will have experience in their industry, some entrepreneurial training, and a thorough business plan. To strengthen your application, we encourage business owners with limited entrepreneurial experience to go through our classes before applying for funding

• Borrowed funds may be used for purposes such as equipment, improvements to place of business, inventory, hiring and training of personnel, marketing and working capital expenses.
• Loan funds generally may not be used to refinance existing debts unrelated to the business, to purchase real estate, for owner’s compensation and payment of back taxes or other outstanding judgments.

A complete loan package for loans under $5,000 consists of the following:

• Online Loan Application
• Personal Financial Statement
• Cash Flow Projection
• Income Taxes for 1-2 years if available
• Additional documents may be requested by WEV’s Loan Program staff

A complete loan package for loans over $5,000 consists of the following:

• Completed business plan
• Online Loan Application
• Personal Financial Statement
• Cash flow projections
• Business and Personal Income Taxes for 2-3 years if available
• Current Business Financial Statement (no older than 60 days) in form acceptable to WEV
• Additional documents may be requested by WEV’s Loan Program staff

No, WEV offers loans that must be repaid, not grants.

Thrive is for clients who are currently in business, have a current business plan and accounting software in place, and are committed to stabilizing or expanding their business.

If you are unsure which program is the best fit for your business, one of our program staff will be happy to have a conversation with you to help decide.

Upon enrollment, we ask that clients commit for one year. Many clients re-enroll annually for several years.

Enrollment is ongoing – you may enroll at any time.

Thrive costs $95 per month, or – if paid in full up front – $995 for the year.