We regret to inform you that on July 2, 2019, Valley Economic Development Center ("VEDC"), filed a voluntary petition for relief under chapter 11 of the Bankruptcy Code. At this time, VEDC will no longer be offering new loans or conducting business training workshops.
However, VEDC's bankruptcy filing has no impact whatsoever upon any of its borrowers' loan owing to VEDC or the loan servicing being provided. VEDC will continue to process payments according to existing loan terms and conditions. Your monthly payment obligations to VEDC are completely unaffected by VEDC's bankruptcy filing.
For any questions or issues, please email [email protected]. We will respond as quickly as possible.
If you are seeking assistance, please visit one of the many free resources available to you such as SBA's Women's Business Centers, Small Business Development Centers, SCORE, or the City of LA BusinessSource Centers. To find the location nearest you please utilize the following links:
- BusinessSource Center Locations & Contact Information: https://business.lacity.org/resources/service-centers
- SBA Los Angeles District Office:
- Find your closest SBA Resources Partner: https://www.sba.gov/local-assistance/find/
If you are seeking financing there are a number of safe alternative lenders that are Certified Development Financial Institutions or SBA lenders.
- List of approved Community Development Financial Institutions (CDFIs): https://www.cdfifund.gov/programs-training/certification/cdfi/Pages/default.aspx
(click on "View the list of certified CDFIs")
- SBA Lender Match (Matches you with an appropriate bank, SBA lender, or CDFI):
*Please note that the above referral sources may continue to include VEDC on their respective referral lists as it may take some time for these organizations to update and omit VEDC.
Thank you for the opportunity to serve you and other small business owners throughout the years. We wish you and your business all the best in the future.