SCV Business Journal October 2020

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Contact: Perry Smith Business Editor Phone: 661-287-5599

S A N TA C L A R I TA VA L L E Y

BUSINESS JOURNAL BJ INSIDE SPOTLIGHTS B4 A message from the SCV

Email: psmith@signalscv.com Mail: 26330 Diamond Place Suite 100 Santa Clarita, CA 91350 SATURDAY, OCTOBER 3, 2020 · WWW.SIGNALSCV.COM · B1

USING TRIED, TRUE TECH TO FIGHT THE PANDEMIC

Chamber B5 SCV Chamber advocacy B9 The List: Santa Clarita’s

biotech sector

NEWS & FEATURES B1 The SCV supports UV

innovation B2 Public Health discusses

compliance B3 Filming looks to help jobs

picture B8 Breweries, wineries can

reopen

SCV BUSINESS VOICES B1 Mission Valley Bank B3 M & M Fasteners Supply B6 Audiology Associates B6 SCVEDC

A look at the UVDI-360 Room Sanitizer used to disinfect an operating room at Henry Mayo Newhall Hospital. PHOTO COURTESY ULTRAVIOLET DEVICES INC. BY EMILY ALVARENGA Signal Staff Writer

B10 Henry Mayo

FROM THE EXPERTS B2 Paul Butler: Pandemic rules,

philosophy B3 Ken Keller: Planning for

uncertainty B10 From the Assessor: The

senior discount

C

ompanies in every industry rely on innovation, especially those working in the medical field. However when the pandemic hit, it was ironically a technology that’s been around for ages that’s been a significant tool in the fight against COVID-19. UltraViolet Devices Inc. in Valencia is a global leader in UV-C, which uses disinfecting robots sent to hospitals across the nation and worldwide, including right here to Henry Mayo Newhall Hospital, to

SCV BUSINESS VOICES

curb the spread of coronavirus and other infectious diseases. Each and every day, hospitals take precautionary measures to prevent the spread of infection from patient to patient, and it’s common practice to deepclean rooms where there was an infection — but cleaning chemicals can only remove so much of the bacteria. That’s where the UVDI-360 UV-C robot comes in, proven to reduce human coronavirus by 99.99% in only 5 minutes, along with at least 35 other pathogens, according to third-party laboratory testing. UVDI has been working on the

technology for a decade, with a decade’s worth of work going into proving its effectiveness. “In 2010, when we developed the first mobile unit, it was challenging because there was no evidence about it, there were no studies,” CEO Peter Veloz said. “I’m not going to recommend someone uses our equipment for an identified mass disinfection(without) science behind it.” It was when these studies found that UVDI’s robot was not only able to kill 99.99% of pathogens, but also reduce a hospital’s infection rate. See BIOMED, page B9

IS THE MAIN STREET LENDING PROGRAM RIGHT FOR YOUR BUSINESS? TAMARA GURNEY President and CEO of Mission Valley Bank

I

Part 1 of a 2-part series

n the early days of the pandemic, emergency financing options, including the Paycheck Protection Program (PPP), were made available to help businesses manage day-to-day expenses. But not all lending available from the federal government is rescue financing. The Federal Reserve Main Street Lending Program is designed to help credit flow to small and medium-sized for-profit businesses and nonprofit organizations that were in sound financial condition before the onset of the crisis, but now need loans to help maintain their operations until they have recovered from, or adapted to, the impacts of the pandemic. (Nonprofit organizations will be discussed in our next series.) The program offers five-year loans, with floating rates, and principal and interest payments deferred to assist those experiencing temporary cash flow interruptions. Loan size starts at $250,000 and ranges up to $300 million for some loan types. Principal payments are deferred for two years with payment percentages of 15%, 15%, and 70% commencing in years 3-5 respectively. Interest payments are deferred for one year. Loans may be secured or unsecured but may not be contractually subordinated in terms of priority to the borrower’s other loans or debt instruments. It is important to note that Main Street loans are not grants and cannot be forgiven. However, borrowers that received a PPP Loan can also receive a Main Street Loan provided they are an eligible borrower. How it works: Interested borrowers work with an eligible lender to determine if they meet the program requirements, as well as the lender’s own underwriting standards. The Federal Reserve Bank of Boston has set up a $600 billion special purpose vehicle to purchase 95% interest in eligible loans with the lender retaining the 5% balance. To get started, borrowers should review the program and contact their financial institution to inquire about participation. There’s tremendous value in working with a client-focused, relationship-driven banker who’ll invest the time necessary to get to know a business and understand its unique needs. The path to long-term success is for businesses to develop long-term relationships with bankers who demonstrate expertise, experience and dedication to their success. Mission Valley Bank is a locally owned, full service, independent community business bank headquartered in Sun Valley, California with a business banking office in Santa Clarita. They have SBA Preferred Lender status and are participating as an eligible lender accepting new customers in the Main Street Lending Program. For more information visit www.MissionValleyBank.com or call (818) 394-2300.  


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