Chase has awarded a $5 million grant to VEDC – the Valley Economic Development Center-- to generate the loans small and medium-sized businesses need to sustain and expand their businesses and to hire more Californians.

“VEDC is proud to partner with the JPMorgan Chase Foundation in providing desperately needed funding during this severe credit crunch,” said Roberto Barragan, President of VEDC, the largest non-profit lender to small businesses in the Los Angeles area.  ‘This grant will enable us to help even more small business owners in cities and rural areas throughout the state of California.”

The $5 million grant will help VEDC launch a statewide small business lending program – the Chase Small Business California Loan Program – that could generate $50 million in new loan capital. Over the next three years, VEDC plans to make direct loans to 200 businesses that could create at least 2,000 jobs.
 
“Chase continues to expand how it is helping small businesses, which are the engine of our nation’s economic growth,” said Peter Barker, Chairman of JPMorgan Chase in California.

For more information visit:  www.vedc.org  or www.chase.com.


 JPMorgan Chase Grants $5 Million to VEDC.  Pictured from left to right:  Gary Kishner, Dudley Benoit and Antonio Manning from JPMorgan Chase; Roberto Barragan, VEDC President; Senator Alex Padilla, Sue Baaden, JPMorgan Chase; Don St. Clair, VEDC Board Chairman; and Peter Villegas, JPMorgan Chase.
 

medium-sized businesses need to sustain and expand their businesses and to hire more Californians.

“VEDC is proud to partner with the JPMorgan Chase Foundation in providing desperately needed funding during this severe credit crunch,” said Roberto Barragan, President of VEDC, the largest non-profit lender to small businesses in the Los Angeles area.  ‘This grant will enable us to help even more small business owners in cities and rural areas throughout the state of California.”

The $5 million grant will help VEDC launch a statewide small business lending program – the Chase Small Business California Loan Program – that could generate $50 million in new loan capital. Over the next three years, VEDC plans to make direct loans to 200 businesses that could create at least 2,000 jobs.
 
“Chase continues to expand how it is helping small businesses, which are the engine of our nation’s economic growth,” said Peter Barker, Chairman of JPMorgan Chase in California.

For more information visit:  www.vedc.org  or www.chase.com.


 JPMorgan Chase Grants $5 Million to VEDC.  Picturedfrom left to right:  Gary Kishner, Dudley Benoit and Antonio Manning from JPMorgan Chase; Roberto Barragan, VEDC President; Senator Alex Padilla, Sue Baaden, JPMorgan Chase; Don St. Clair, VEDC Board Chairman; and Peter Villegas, JPMorgan Chase.