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VEDC is here for you.

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EDC is a leading non-profit small business lender that is changing the way small business lending is done by making it more available and impactful.

A national small business lender, VEDC has lent $380 million in direct and guaranteed loans to over 100,000 small businesses and created more than 28,000 new jobs. As a certified Community Development Financial Institution (CDFI), VEDC’s mission is to help create jobs and promote economic development in under-served communities.

The organization provides loans and micro-financing options to small businesses, particularly those owned by women and minorities, that don’t qualify for traditional bank financing.

Throughout our 38 year history, VEDC has been known for funding businesses that have been turned down by traditional financial institutions. WE have a proven track in in providing a combination of SBA business loans, direct financial assistance, consultation services, and entrepreneurial training to individuals and businesses.

With offices throughout California, Nevada, Utah, Chicago, Miami and the New York Tri-State area, VEDC is ready to facilitate your small business financing needs.

A Little History

Our organization has been working with small businesses since 1976. And we love what we do.

What We Offer

Through various partners across the country, VEDC can provide loans that fit your needs perfectly.

UBS Business Opportunity Funds

Through a $35 million loan fund, UBS is increasing VEDC’s capacity as a national lender. UBS Business Opportunity Funds with VEDC currently offers small business loan funds in Los Angeles, Nevada, Utah, Chicago metro area, Miami, and in the New York Tri-state area.

The Business Opportunity Funds are part of UBS’s Elevating Entrepreneurs (“EE”) program, which provides mentoring and educational opportunities in addition to access to capital to high-potential entrepreneurs poised to expand their companies. EE is a joint undertaking of UBS Community Affairs Americas and UBS Bank USA, with program offerings in Chicago, Los Angeles, Las Vegas, New York and Salt Lake City.

Goldman Sachs 10,000 Small Businesses

Goldman Sachs 10,000 Small Businesses is an investment to help small businesses create jobs and economic opportunity by providing greater access to business education, financial capital, and business support services. The program is based on the broadly held view of leading experts that greater access to this combination of education, capital and support services best addresses barriers to growth. 10,000 Small Businesses is funded by Goldman Sachs and The Goldman Sachs Foundation.

Loans are available from $50,000 to $400,000. The funds can be used to cover working capital, purchase equipment and inventory, buy another business, make tenant improvements, finance real-estate and engage in business related construction. However, Real Estate investment or development projects are ineligible.

National Microfinance Network

VEDC offers microloans ranging a amounts as low as $1,000 and up to $50,000 which can be used for many purposes such as purchasing equipment or inventory, or as start up or working capital.  Most microloan programs are designed to help low to moderate-income entrepreneurs who live in rural or disadvantaged communities are unable to meet traditional loan qualifications. Terms and interest rates can vary, but in general, microloans have shorter payment terms, competitive interest rates, and are accessible to borrowers who have little to no collateral or a challenging credit history.  Visit www.microloan.org to apply online today!

SBA Community Advantage Loan Program

VEDC is approved by the U.S. Small Business Administration as one of the few community-based, mission-focused lenders to accept and process Community Advantage loan applications from small business borrowers. The SBA Community Advantage program is designed to expand access to lower dollar loans and lending in traditionally underserved communities. The SBA and U.S. Department of Commerce studies have shown the vital impact of small loan amounts to small businesses in promoting economic growth in the most challenged markets.

Community Advantage offers a streamlined application process for SBA-guaranteed 7(a) loans up to $250,000. Advantage loans will come with a SBA 7(a) government guarantee, 85% for loans up to $150,000 and 75% for those greater than $150,000.

Access to Capital Workshops

VEDC offers classes to help you understand the various loan products available to businesses, no matter what size of business you are. If you’re looking to expand, purchase equipment/inventory, or restructure your existing business, this class will explore various SBA, microloan, minority, veteran, and special loan programs. Learn how to fill out loan applications, as well as learn about credit, collateral, cashflow and character.

National African-American Small Business Loan Fund

VEDC and JPMorgan Chase & Co. provide a new lending program for African American-owned small businesses in New York City, Chicago and Los Angeles. The National African American Small Business Loan Fund will boost economic opportunity for minority-owned businesses in these cities and help them serve low-income communities by providing them with greater access to capital, technical assistance and financial consulting. JPMorgan Chase Foundation has contributed a $3 million grant to help VEDC reach its goal of creating a $30 million loan fund.

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