• Oct 15, 21
• spencergregory
• Revolving Loan Fund Directory
• 0 comment

VEDC’s team of loan consultants provides business lending guidance and loan packaging services at little or no coSt. Loan consultants will meet with a business owner, analyze their ability to qualify for a business loan, and help determine what loan program is most suitable. If appropriate, the consultant then will assist the business in meeting loan requirements and packaging the loan. The program provides outreach lending assistance to businesses all over Los Angeles County. Los Angeles Business Development Corporation, VEDC’s state licensed lender currently has the following loans available. Revolving Loan Fund [$25,000 – $700,000] The Economic Development Administration’s Revolving Loan Fund focuses on existing businesses located in the County of Los Angeles that have been declined credit by commercial banks and are looking for funds to help grow, save & create employment opportunities in the region. The loan amount ranges from $25,000 to $700,000 and is used for debt restructure, business acquisition, fixed asset financing and working capital. VEDC has operated this program since 1995, lending more than $22 million to 78 businesses. SBA Microloan Program [$1,000 – $35,000] Since 1998, the LABDC has administered a Small Business Administration Microloan Program in Los Angeles, Ventura and Orange Counties. The SBA Microloan Program has a capital base of $3 million, which provides financing to existing and start-up businesses. Loans originate from $1,000 to $35,000 for 3-5 year term at market rate with no points. Pacoima Microloan / Wells Fargo Fund [$1,000 – $15,000] In partnership with Wells Fargo Bank, this program offers funding to businesses located in the Pacoima region. Loan amount ranges between $1,000 to $15,000 with terms up to 5 years. Women’s Business Microloan [$1,000 – $25,000] Established in June of 2007, in partnership with GE Money Bank, this program provides funding to Women owned businesses in the Los Angeles Metro region. Loan amount ranges from $1,000 to $25,000 with terms up to 5 years. IRP Revolving Loan [$25,000 – $150,000] In partnership with the United States Department of Agriculture, loans up to $150,000, can be used towards community development projects, new businesses, expansion, creation of employment opportunities, the purchase of equipment, debt refinancing, or business acquisitions in rural areas or cities with a population of less than 25,000. Contact Information Valley Economic Development Center Address: 5121 Van Nuys Blvd., 3rd Floor City: Van Nuys State: California Website: https://www.valleyedp.com/