Tuesday, June 26, 2012

New Field Partner: VEDC brings Kiva loans to LA's small business community

Join us in welcoming our newest Field Partner in the United States, Valley Economic Development Center!

As the largest nonprofit business development group in the Great Los Angeles Area, VEDC offers micro-loans up to $50,000, small business loans up to $700,000, consulting services and training opportunities to Los Angeles' massive small business community -- the largest in the United States.

For over 35 years, VEDC has worked to do two things: assist small businesses and create jobs. With this simple vision in mind, the organization's portfolio has grown to $35 million in small business loans annually across the state.

Recognizing the power of pairing loans with educational services, VEDC provides extensive training courses in accounting, business survival, finance and more, on top of special events and workshops.

Accordingly, the organization has received a number of awards and honors, including the Economic Development Agency’s Economic Development Award, the U.S. Small Business Administration’s Minority Champion Award, and the U.S. Department of Housing and Urban Development’s Best Practices Award.

Kiva's flexible, risk-tolerant capital will allow VEDC to grow its loan programs even more, and provide additional resources to underserved businesses and business owners throughout California.

VEDC is Kiva's first Field Partner in Los Angeles, where the Kiva City LA program launched today ! Starting now, Kiva lenders will be able to support entrepreneurs and job creation in Southern California one $25 loan at a time. Learn more about Kiva City LA here.

Have questions about VEDC? Kiva's work in Los Angeles? We're happy to help at contactus@kiva.org.

photos courtesy of VEDC and justaslice