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 $482,875 $535,272,925
Amount of Raised Inactive Loans $0 $231,500
Number Of Raised Inactive Loans 0 230
Amount of Paying Back Loans $355,475 $115,952,475
Number Of Paying Back Loans 51 121,581
Amount of Ended Loans $127,400 $419,088,950
Number Of Ended Loans 19 538,794
Delinquency Rate 1.97% 3.69%
Amount In Arrears $5,113 $2,866,312
Outstanding Portfolio $258,932 $77,652,360
Number of Loans Delinquent 10 16,008
Default Rate 50.75% (See Note) 1.04%
Amount of Ended Loans Defaulted $64,662 $4,349,827
Amount of Ended Loans $127,400 $419,088,950
Number Of Ended Loans Defaulted 12 14,108
Currency Exchange Loss Rate 0.00% 0.05%
Amount of Currency Exchange Loss $0 $293,076
Refund Rate 0.00% 0.82%
Amount of Refunded Loans $0 $4,415,650
Number Of Refunded Loans 0 4,862

Kiva HelpLoan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans To Women Entrepreneurs 55.81% 74.09%
Average Loan Size $6,525 $417
Average Individual Loan Size $6,862 $655
Average Group Loan Size $7,494 $1,810
Average Number Of Entrepreneurs Per Group 2 8
Average GDP Per Capita (PPP) in Local Country $47,000 $3,464
Average Loan Size / GDP Per Capita (PPP) 13.88% 12.04%
Average Time To Fund A Loan 5.9 days 5.27 days
Average Dollars Raised Per Day Per Loan $1,106.42 $79.18
  Average Loan Term 44.01 months 10.04 months

Kiva HelpJournaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 30 268,315
  Journaling Rate 0.00% 42.16%
  Average Number Of Comments Per Journal 0.00 0.09
  Average Number Of Recommendations Per Journal 0.00 2.07

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