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.


Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Jun 25, 2012 Oct 12, 2005
Total Loans $571,875 $590,587,600
Amount of raised Inactive loans $0 $709,800
Number of raised Inactive loans 0 573
Amount of Paying Back Loans $374,975 $123,092,325
Number of Paying Back Loans 53 131,077
Amount of Ended Loans $196,900 $466,785,475
Number of Ended Loans 29 593,552
Delinquency Rate 0.80% 4.23%
Amount in Arrears $2,169 $3,465,940
Outstanding Portfolio $269,565 $81,929,648
Number of loanDelinquent 5 16,779
Default Rate 57.23% (See Note) 1.15%
Amount of Ended Loans Defaulted $112,679 $5,349,645
Amount of Ended Loans $196,900 $466,785,475
Number of Ended Loans Defaulted 20 16,827
Currency Exchange Loss Rate 0.00% 0.09%
Amount of Currency Exchange Loss $0 $536,808
Refund Rate 0.00% 0.77%
Amount of Refunded Loans $0 $4,537,625
Number of Refunded Loans 0 5,064

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 56.57% 74.17%
Average Loan Size $6,499 $418
Average Individual Loan Size $6,867 $655
Average Group Loan Size $8,329 $1,828
Average number of borrowers per group 2 8
Average GDP per capita (PPP) in local country $47,000 $3,430
Average Loan Size / GDP per capita (PPP) 13.83% 12.19%
Average Time to Fund a Loan 6.77 days 5.59 days
Average Dollars Raised Per Day Per Loan $959.31 $74.76
  Average Loan Term 43.1 months 10.35 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 40 295,819
  Journaling Rate 100.00% 42.38%
  Average Number of Comments Per Journal 0.00 0.08
  Average Number of Recommendations Per Journal 0.00 1.87

Borrowing Cost Comparison (based on 2012 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 10% PY N/A 33.46% PY
  Profitability (return on assets) -17.7% N/A -1.39%
  Average Loan Size (% of per capita income) 73.40% N/A 41.11%

Country Fast Facts

Field Partner Staff

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