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Featured News Article

VEDC and JPMorgan Chase Announce Loan Fund for African American-Owned Small Businesses

VEDC and JPMorgan Chase & Co. today announced 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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Local Business Opportunity Funds

By making $35 million in capital available to small business owners, as well as additional multi-year grant funding, UBS has made it possible for VEDC to lend nationally. VEDC's growing footprint enables small businesses, banks and foundations to work with one experienced partner and have a greater impact. Through these UBS supported Business Opportunity Funds, loans are available for small business owners in California, Connecticut, New Jersey, New York, Florida, Illinois, Nevada and Utah.

Working in partnership the UBS initiative, Elevating Entrepreneurs (EE), we aim to empower under-resourced, high-potential small business owners in communities across the United States with access to resources that are seldom available to companies of their size. Through this program, UBS provides small business owners with high-impact business mentoring, access to capital as well as education and networking opportunities to help them grow their companies, create jobs and develop more enterprising local communities.


VEDC is a proud member of the Opportunity Finance Network.*

Opportunity Finance Network

*the leading national network of community development financial institutions (CDFIs) investing in opportunities that benefit low-income, low-wealth, and other disadvantaged communities across America.