By: Lisa Winkle
The Valley Economic Development Center (VEDC) is one of the largest non-profit business development organizations in California, offering direct micro and small business loans, as well as, SBA 7(a) and SBA 504 loans. VEDC has over 36 years of experience in providing affordable business assistance services, direct financial assistance, entrepreneurial training, and economic development to individuals and businesses in metro Los Angeles. VEDC has recently expanded to provide lending services throughout the entire state of California, Nevada and in the city of Chicago.
Historically, VEDC has assisted more than 95,000 businesses in creating and retaining over 25,000 jobs, opening over 1,700 new businesses, and graduating nearly 3,000 individuals from the Entrepreneurial Training Program. VEDC has also provided more than $340,000,000 in direct and guaranteed lending to small businesses. Seventy-five percent of their clientele have been low to moderate income, as well as over 45% minority and 55% women owned entrepreneurs.
VEDC’s mission is to create and sustain jobs and businesses by providing high-quality small business development services. They endeavor to reach this objective by giving under-served communities and low to moderate income residents the tools to build assets and raise economic standards by assisting with job creation and workforce development, as well as creating and growing new businesses.
Last year, VEDC accomplished the following notable successes in organizational performance:
- Lent $15.1 million to 280 small and micro businesses
- Supported the direct creation of 654 jobs
- Supported the direct creation of 101 new businesses
- Served more than 4,000 clients
VEDC’s purpose is to guide small businesses in achieving business growth and sustainability. Their interest is to get loan funds in the hands of borrowers so that businesses can be created, maintained and/or expanded. By providing proper entrepreneurial training and access to capital services, they increase the rate of successful businesses as well as job creation. VEDC is acutely aware that job creation and self-employment positively impact low to moderate-income individuals and communities.
They continue to meet their goals by creating economic opportunities in underserved areas across the nation for those who want to improve their financial standards and build stronger communities.
For more information contact Lisa Winkle at (818) 907-9977, or visit www.vedc.com.