The Vermont-Slauson Economic Development Corporation (VSEDC) has proudly received the distinction as a Community Development Financial Institution (CDFI) making it one of the only non-profits in South Los Angeles authorized to assess and distribute funding. Designed to serve low to moderate individuals and/or those who work in economically-distressed communities, CDFIs provide a unique and wide range of development services, financial products, and financial services that help clients build wealth and achieve the goal of participating in the “ownership” society.
“We are thrilled to provide financial resources that allow Angelinos, particularly those in South Los Angeles, achieve self-sufficiency and excel in business and beyond,” said Joseph Rouzan, executive director of VSEDC. “Our team looks forward to providing loans, business assistance, financial planning, and more with the ultimate goal of improving communities that need economic resources the most.”
With products similar to those provided by mainstream banking institutions, VSEDC will offer mortgage financing for low to moderate -income, small businesses, and lending for community facilities. Considering urban communities often endure more stringent requirements when attempting to qualify for financial products, VSEDC bridges the access gap allowing residents to economically engage and thrive.
“Communities that are traditionally left out of economic advancement deserve to engage in entrepreneurship and home ownership to create generational wealth,” said Dr. Gregory Burks, VSEDC’s chief operating officer. “Our CDFI distinction allows us to build on our founder’s legacy of connecting residents to economic resources, thereby strengthening families and communities.
VSEDC facilitates community development of the South Los Angeles area by providing programs structured to revitalize the physical, economic, and social life of the community. Founded by the late Marva Smith Battle-Bay, VSEDC has developed and implemented a comprehensive approach to community economic development that includes business development, technical assistance and training, residential housing, commercial, and industrial development.
Learn more about VSEDC’s financial products by visitng VSEDC.org or call (323) 753-2335.