LOS ANGELES, October 19, 2016 – VEDC today announced that it has received a $425,000 grant from Travelers to expand its partnership with the Travelers Small Business Risk Education (SBRE) program. VEDC has supported SBRE in Los Angeles since 2012 and will now manage the program in all of its locations, including Chicago, New York and Atlanta. The program provides safety risk management education for women- and minority-owned small businesses.
SBRE participants have access to workshops, one-on-one assistance and small business loans through a partnership with VEDC. The program has helped more than 700 women- and minority-owned small business representatives and has provided nearly $1 million in small business loans.
“VEDC is grateful for the support of Travelers,” said Alex Guerrero, Senior Vice President of External Affairs, VEDC. “We are eager to build on the success of the SBRE program in Los Angeles and to work with entrepreneurs in Chicago, New York and Atlanta to help them develop strategies that will protect and grow their businesses.”
“We understand the important role that small businesses play in the growth of the American economy,” said Tara Spain, Second Vice President, Community Relations, Travelers. “Travelers launched the SBRE program in 2012 to help small businesses mitigate their risks and prepare for the future. We are pleased to expand our partnership with VEDC and provide our combined resources to even more small business owners around the country.”
The SBRE program offers comprehensive, free access to risk management and economic development through:
- Workshops presented by Travelers risk control professionals that will help identify the unique risks that participants face.
- One-on-one assistance from VEDC and Travelers experts to develop personalized risk management and business continuity plans.
- Small business loans funded by VEDC for qualified participants who have completed risk management and business continuity plans and wish to implement the identified risk mitigation strategies.
For more information about SBRE, please contact VEDC at 818-907-9977, ext. 231 or visit vedc.org/travelers.
VEDC is a leading non-profit small business lender that has a 40 year history of changing the way small business lending is done by making it more available and impactful. With a growing footprint, VEDC has lent $400 million in direct and guaranteed loans to over 108,000 small businesses to create and retain more than 200,600 new jobs. VEDC’s mission, as a certified Community Development Financial Institution (CDFI), is to help create jobs and promote small business 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 financing. VEDC’s expanding portfolio is composed of community-based loan funds in California, Illinois, Nevada, Utah, New Jersey, Connecticut, Florida and New York.