Valley Economic Development Center Inc

Filing Period

Apr 1, 2012 to Mar 31, 2013

Signed

Feb 11, 2014

Return Version

2012v2.0

Gross Receipts

$11,854,473

Mission

Major Activities

Activity 2

VEDC Micro Loan Programs: VEDC is a Certified Community Development Financial Institution (CDFI) and provides Access to Capital for creating and/or sustaining jobs via making SBA and other program Micro Loans between $1,000 and $50,000 to minority and/or women owned small business entrepreneurs and other small business owners who are located within, or have employees who reside in, low to moderate income areas situated in the Greater Los Angeles geographic area. Funding sources for these micro loans are the US Small Business Administration and several major financial institutions. During the fiscal year, VEDC funded over $2.3 million in micro-loans to approximately 210 businesses.

Activity 3

VEDC Technical Assistance Programs: VEDC provides technical assistance consulting and training programs primarily to minority and/or women owned small business entrepreneurs and/or to small business entrepreneurs who are located within, or have employees who reside in, low to moderate income areas in the Greater Los Angles geographic area. These programs also teach marketing and outreach strategies, pre-screening, follow-up services, and tracking of client outcomes in creating jobs and business opportunities for their clients. iN ADDITION, VEDC provides technical assistance programs specifically for Micro Loan borrowers whose businesses are located primarily in the southern California area. In addition to the program revenue reported In pART ii, line 4c, the majority of funding for these programs comes from grants totaling $1,149,063 (reported in PART VIII, line 1e) provided by the US Small Business Administration, the City of Los Angeles via various HUD CDGB grants, and the Department Health and Human Services.

Filer

EIN

95-3139419