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VEDC Forms National Microfinance Fund with Grant from Sam's Club Giving Program

Funds will leverage $20 million in capital available to micro-lenders across the nation.

Los Angeles, May 6, 2015 - VEDC announced today that thanks to a $2 million grant from the Sam's Club Giving Program, they will leverage the formation of a $20 million National Microfinance Fund (NMF) to expand their small business loan portfolio to include lending to micro-lenders across the country. The NMF will begin rolling out in California and expand as far as Nevada, Utah, Arizona and Oregon in the initial stages. CONTINUE READING...
  • Seek to grow your for-profit business that has been in operation for at least two years
  • Employ between 4 - 100 employees
  • Have revenues between $150,000 and $4 million
  • Are located in the Los Angeles metropolitan area
  • Lack other sources of financing
Loan proceeds can used to cover working capital, purchase equipment and inventory, buy another business, make tenant improvements, finance real-estate and engage in business related construction. Real estate investment or development projects are ineligible.
One of the major barriers for today’s small business is access to capital; VEDC can help refer/advise/package the best loan program to meet your needs.
Knowledge is Power! ---Especially in today’s world of small business ownership.
The bottom line for VEDC is one thing---jobs.  Job creation aids our economy, signifies growth and prosperity, and creates self-sufficiency opportunities for residents of our community.
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VEDC has formed the Tri-State Business Opportunity Fund to provide financing for high-growth businesses in the New York Tri-State area to help them expand and create jobs. The Tri-State office is made possible by funding from UBS and is validation the VEDC’s proven approach is a sustainable and impactful way to make capital more available to small businesses that otherwise wouldn’t have access to the resources they need to start up or grow.

The Tri-State Business Opportunity Fund (TBOF) offers $50,000 - $500,000 small business loans to start-up and existing businesses operating in low to moderate income communities. For more information... You can contact the Tri-State Business Opportunity Fund at 212-231-4310 or via email to jlee@vedc-tbof.org.

Women’s Business Center
San Fernando Valley Financial Development Corporation
Microloan Program
Pacoima Development Federal Credit Union
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