Community Development Financial Institution (CDFI)

VSEDC Shares the Wealth with Southern Los Angeles, Creating Businesses and Job Opportunities in the Vermont-Slauson Area for over 40 years

Betti Halsell, Contributing WriterDecember 24, 2020

The Vermont Slauson Economic Development (VSEDC) Corporation has planted many seeds throughout Southern Los Angeles. They grow into fields of abundance and harvested wealth within underrepresented communities. VSEDC has plowed many opportunities for first-time business owners with the mission to “expand the needs for economic and small business development solutions in South Los Angeles.”

Business National News News (Business)

NNPA Teams with Magic Johnson to Fund Over $100 Million in PPP Loans for Minority and Women-Owned Businesses

NNPA NewswireJuly 30, 2020

Johnson’s EquiTrust is providing critical financial support to underserved communities and businesses that have been traditionally neglected. These small and diverse businesses often have difficulty developing strong lending relationships with big banks. According to the Center for Responsible Lending, up to 90% of businesses owned by people of color have been, or will likely be, shut out of the PPP program.

Business Finance News

Los Angeles Nonprofits Receive Over $1 Million in Economic Development Grants from Bank of America to Stimulate Business and Neighborhood Revitalization

Sentinel News ServiceNovember 19, 2018

Bank of America announced $1,124,000 in economic development grants given to 52 nonprofits that help stimulate local business and neighborhood revitalization in communities across Los Angeles. Nonprofits receiving the funds provide services ranging from affordable housing and community development resources to small business support and arts and culture programs that stimulate the local economy.