"I was denied credit by traditional financial institutions due to inadequate credit. VEDC helped me secure a $200,000 loan that gave my company working capital to grow my business. We generated $1.82 million in sales in 2014, and 2015 looks to be even stronger." - David Goldsmith, Urban Classics Auto Repair, New York NY

Become Our Next Success Story

David Goldsmith built his Urban Classics Auto Repair into such a success that the business outgrew its downtown New York home. After being denied credit by several traditional financial institutions due to inadequate credit, Goldsmith turned to VEDC Tri-State Business Opportunity Fund (TBOF). The $200,000 loan gave Urban Classics working capital, and allowed Goldsmith to upgrade machinery and refinance a previous loan. The loan also meant the creation and retention of 13 jobs in the area. Now, Urban Classics serves the rapidly gentrifying Bedford Stuyvesant and surrounding, communities. Clients such as the United States Secret Service and United States Marshal’s Service know and trust the ASE certified master technician services and helped Urban Classics generate more than $1.82 million in sales in 2014. Goldsmith, who also reinvigorated his business by participating in weekly meeting groups and attending more than 15 management training courses, now tries to help other auto entrepreneurs by contributing regularly the Auto Lab Radio Show and teaching at Bronx Community College.


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Show around – you’ll find that our annual interest rates are comparable, if not better, than other alternative institutions that offer small business loans.

Our Mission is You

As a non-profit organization, we exist to help small business owners like you – not shareholders and not a corporate board of directors.

Say “No” to Payday Lenders

Payday lenders are a blight on this country. Their predatory practices take advantage of individuals and small companies who feel that they have no other option for quick, impactful capital. You do have another option: VEDC.

Our Partners

VEDC works with banks and other non-profit organizations to offer our clients the best borrowing options to help their business grow.
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