Bank of America Senior Vice President Ray Vasquez presented a $100,000 grant to VEDC Chairman of the Board Scott Aney during VEDC’s National Veteran’s Small Business Week Celebration and Resource Fair held on November 9, 2018, at the Entrepreneur Center. VEDC, in partnership with Travelers, hosted over 100 local veteran entrepreneurs, emerging small business owners and resource partners participated in small business networking, an Access to Capital panel and Guided Business Plan workshop. The celebration also included recognition awards presented to local veteran-owned small businesses for their community commitment and service.
“Small businesses create economic opportunities by providing job retention and creation and commercial growth in their communities,” said Scott Aney, chairman of the board for VEDC. “Bank of America and VEDC have a strong history of supporting small business owners and we look forward to continuing our partnership by helping entrepreneurs start and build their businesses.”
Supporting Veteran Entrepreneurs
As a long-time supporter of VEDC, Bank of America has provided over a million dollars in grants that VEDC has used to help veteran entrepreneurs and small businesses access capital and educational resources to help grow their businesses, thus promoting jobs and economic development in low- and moderate-income communities.
“When new startups and micro-businesses don’t yet qualify for traditional bank capital, we work with community partners like VEDC who have a tremendous track record of providing important technical assistance and microloans critical to getting these entrepreneurs on the path to economic success,” said Mr. Vasquez. “As their financial needs evolve and become more complex, Bank of America can then provide the resources and financing options to continue to grow. It’s a powerful partnership for the Los Angeles business community and economy.”
VEDC works to create and sustain jobs and businesses in California, Illinois, and New York by making high-quality small business development services more available, sustainable and impactful. As a non-profit CDFI and small business lender with community-based loan funds and unique technical assistance programs, VEDC supports minority and low-to-moderate income business owners and veteran entrepreneurs with powerful lending solutions and educational resources.
Bank of America Environmental, Social and Governance Approach
At Bank of America, we’re guided by a common purpose to help make financial lives better, through the power of every connection. We’re delivering on this through responsible growth with a focus on our environmental, social and governance (ESG) leadership. ESG is embedded across our eight lines of business and reflects how we help fuel the global economy, build trust and credibility, and represent a company that people want to work for, invest in and do business with. It’s demonstrated in the inclusive and supportive workplace we create for our employees, the responsible products and services we offer our clients, and the impact we make around the world in helping local economies thrive. An important part of this work is forming strong partnerships with nonprofits and advocacy groups, such as community, consumer and environmental organizations, to bring together our collective networks and expertise to achieve greater impact. Learn more at about.bankofamerica.com, and connect with us on Twitter at @BofA_News.