President & CEO
The Valley Economic Development Center
The Valley Economic Development Center (VEDC) is a leading non-profit small business lender that is changing the way small business lending is done by making it more available, sustainable and impactful. As a certified Community Development Financial Institution (CDFI), VEDC’s mission is to help create jobs and promote economic development in under-served communities. They provide loans and micro-financing options to small businesses, particularly those owned by women and minorities, that don’t quality for traditional bank financing.
VEDC has supported small business owners for 37 years with the goal of creating and sustaining jobs and businesses in underserved communities by providing high-quality business development services. Founded in 1976, the mission of VEDC has expanded in order to respond to the financial assistance and development needs of entrepreneurs conducting business in low to moderate-income communities.
VEDC believes that the major barrier for today’s small business is access to capital. Without adequate financing, many small businesses are prevented from thriving. That is why VEDC focuses its efforts on lending and guiding small businesses to achieve business growth and sustainability. Their interest is to get loan funds in the hands of minority and low-income borrowers so that businesses can be created, maintained, and expanded.
It has been proven that a combination of technical assistance, access to capital and partnerships with local workforce and business assistance agencies are critical to entrepreneurial success, which is why VEDC offers training and financial services. The success of small businesses and the creation of jobs is the key ingredient in developing healthy and sustainable communities.
VEDC has consistently provided services to small and medium sized business owners, entrepreneurs and members of the communities it serves. The organization operates a Small Business Administration (SBA) Women’s Business Center, San Fernando Valley Financial Development Corporation, Pacoima Development Federal Credit Union, and two Los Angeles Business Source Centers. The combination of these successful programs that anticipate the needs of growing businesses in the ever-changing economy has created a focused vision of economic opportunity, effective organization of resources, and the fostering of job creation.
In support of small business, VEDC offers a wide range of services to entrepreneurs in the Los Angeles area including:
Business Loan Programs
· Microloan Programs in amounts ranging from $1,000 to $50,000
· Small Business Loan Programs in amounts ranging from $50,000 to $500,000
· SBA 7(a), including Community Advantage, in amounts up to $2,000,000
· SBA 504 Commercial Real Estate Loan Program
Business Services and Training Programs
· SBA Sponsored Women’s Business Center in Van Nuys, CA
· Two City of Los Angeles Business Source Centers – Pacoima and Reseda
· Microenterprise and Entrepreneurial Training Programs
Each year, VEDC serves more than 5,000 small businesses with financing, training, and direct business assistance. As a result, VEDC has been instrumental in helping to create economic opportunities areas for those who want to improve their financial standards and build stronger communities.
To learn more visit www.vedc.org or call (818) 907-9977.