Valley Economic Development Center (VEDC) is a non-profit community development financial institution in the City of Los Angeles. Today, the organization says it is the largest non-profit business development group in the Greater Los Angeles area, offering micro-loans up to $50,000, small business loans up to $700,000, consulting services, and training to small and medium-sized businesses throughout California.

Originally launched in 1976 to revitalize commercial districts in Van Nuys, California, VEDC has always held to the same objective: assisting small businesses and creating jobs. In addition to its strong focus on lending, it provides extensive training services in accounting, business survival, finance and more, as well as events and workshops.

Today, VEDC has an annual budget of $4 million, 40 employees and seven offices throughout the state. The organization reports that it disburses more than $35 million in small business loans every year. It also operates and facilitates several other impactful programs and projects, including: the SBA Women’s Business Center, the San Fernando Valley Financial Development Corporation, the Pacoima Development Federal Credit Union, and two Los Angeles Business Source Centers.

For its socially-minded efforts, VEDC has received a number of awards and honors, including the Economic Development Agency’s Economic Development Award, the U.S. Small Business Administration’s Minority Champion Award, and the U.S. Department of Housing and Urban Development’s Best Practices Award.

Kiva HelpRepayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Jun 25, 2012 Oct 12, 2005
Total Loans $497,875 $539,779,750
Amount of Raised Inactive Loans $0 $395,825
Number Of Raised Inactive Loans 0 277
Amount of Paying Back Loans $370,475 $111,481,150
Number Of Paying Back Loans 53 115,292
Amount of Ended Loans $127,400 $427,902,775
Number Of Ended Loans 19 549,684
Delinquency Rate 1.87% 3.29%
Amount In Arrears $5,113 $2,384,778
Outstanding Portfolio $273,932 $72,582,749
Number of Loans Delinquent 10 10,606
Default Rate 50.75% (See Note) 1.01%
Amount of Ended Loans Defaulted $64,662 $4,334,868
Amount of Ended Loans $127,400 $427,902,775
Number Of Ended Loans Defaulted 12 14,050
Currency Exchange Loss Rate 0.00% 0.06%
Amount of Currency Exchange Loss $0 $298,028
Refund Rate 0.00% 0.82%
Amount of Refunded Loans $0 $4,417,000
Number Of Refunded Loans 0 4,864

Kiva HelpLoan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans To Women Entrepreneurs 56.32% 74.09%
Average Loan Size $6,466 $417
Average Individual Loan Size $6,834 $656
Average Group Loan Size $7,995 $1,813
Average Number Of Entrepreneurs Per Group 2 8
Average GDP Per Capita (PPP) in Local Country $47,000 $3,463
Average Loan Size / GDP Per Capita (PPP) 13.76% 12.05%
Average Time To Fund A Loan 6 days 5.29 days
Average Dollars Raised Per Day Per Loan $1,077.02 $78.90
  Average Loan Term 43.95 months 10.05 months

Kiva HelpJournaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 30 268,948
  Journaling Rate 0.00% 42.09%
  Average Number Of Comments Per Journal 0.00 0.09
  Average Number Of Recommendations Per Journal 0.00 2.06

Kiva HelpBorrowing Cost Comparison (based on 2011 data)

    This Field Partner Median for MFI Peers in Country All Kiva Partners
  Portfolio Yield 9.80% 12.40% 34.93%
  Profitability (Return on Assets) -16.9% -9.9% -1.11%
  Average Loan Size (% of Per Capita Income) 73.40% 23.90% 42.70%

Kiva HelpCountry Fast Facts

Field Partner Staff

Joanne Dao
Salem Dawit
Andrea DeLuna
Jo Di Nova-Daly
Rebecca Ehrenberg
Brandon Napoli
Selene Rincon
Angela Stanislawski