Roberto Barragan, President/CEO
www.VEDC.org
VEDC Promotes Creation and Growth of Small
Businesses
Transitional Small-business lender established in 1976
 Largest non-profit business development corporation in
metropolitan Los Angeles
 Certified by U.S. Treasury as a Community Development
Financial Institution (“CDFI”)
 Approved SBA Community Advantage Lender
 Strategic partnerships with UBS Elevating Entrepreneurs
Program and Goldman Sachs 10,000 Small Businesses
 Began expansion in 2011 to lend statewide
REAL MONEY, REAL PEOPLE, CREATING REAL JOBS
Mission to create and sustain jobs and businesses
 Focus toward small businesses that do not qualify for traditional bank
financing
 Two primary lending programs include:
 small business loans from $50,000 up to $500,000
 microloans up to $50,000
 75% of $35 million loan portfolio lent to underserved small business
owners, including minority- and women-owned businesses
 Provides technical assistance to grow and strengthen businesses through
workshops, entrepreneurial training programs, and consulting services in
the Los Angeles area
 Since inception, deployed loan capital in excess of $340 million and
assisted some 1,900 small businesses to create more than 18,600 jobs
VEDC Statewide Small Business Lending – Impact Report
California
 Between 2010 and 2015, obtained $45 million in loan capital from
UBS Bank USA, Goldman Sachs, Rabobank, Charles Schwab and six
other financial institutions
 Lending activity leveraged with $5 million grant from JP Morgan
Chase
 Funds available to make loans to qualified small businesses in the
State of California
 Over four year period, VEDC:
 Funded $60 million in loans to 300 small businesses
 Created 3,500 new jobs and retained 6,000 jobs
California Statewide Revolving Loan Fund
 California Statewide Revolving Loan Fund(“SRLF") has been
established by CALED and VEDC through the assumption of $5
million in EDA grant dollars from the State of California and matched
by VEDC with $900,000, mainly from its Chase grant.
 Small business lending in amounts up to $500,000 at market rate
underwritten, booked and serviced by VEDC.
 Funds to be used for tenant improvements, working capital, equipment
and inventory to support startups and existing businesses
 Profile loan has been turned down by Bank due to cashflow
 Joint VEDC and CALED loan committee approves all loans
 Projected impact during 2 year disbursement period:
 $10 million in additional leverage
 Will create 300 new jobs and retain 400 jobs
Visit the VEDC
Booth for more
information