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VEDC's Loan Programs |
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| SBA 504 Loan Program | Loans for the purchase of land, owner - occupied buildings, and equipment with a useful life of 10 + years. Loan Proceeds may also be used for the construction of a new building or the renovation of existing building. | $100,000 - $5 million | For established businesses with a net worth of less than $7.5 million and average annual income of less than $2.5 million, or which qualify as a small business as defined by SBA. |
San Fernando Valley Financial Development Corporation, a Certified Development Company
Silverio Robledo, Business Development Officer 818-205-1770 |
| SBA 7(a) Loan Guarantee Program | Term Loan that provides qualified businesses with financing fir equipment, inventory, and working capital | $100,000 - $2 million | Qualified Small Businesses |
VEDC
Paola Macchiavello, Microloan Manager 818-907-9977 |
| Community Express | Pilot loan program to help small businesses start, build, or grow | $250,000 | Small businesses located within specified geographic areas that SBA size standards |
Capital Access Center
Virginia Pinedo, Loan Analyst 213-488-1893 |
| California State Guarantee Program | An alternative source of funding for small businesses in which conventional lenders funds loans guaranteed by the state | $500,000 | Small businesses that do not qualify for conventional bank loans |
San Fernando Valley Financial Development Corporation, a Certified Development Company
Antonio Pizano, Program Director 818-205-1770 |
| Disaster Bridge Loan Guarantee Program | To provide intermediate bridge financing for small businesses who have suffered physical or economic injury as a result of a declared disaster | $200,000 | Small businesses that have applied for an SBA Disaster Loan |
San Fernando Valley Financial Development Corporation, a Certified Development Company
Antonio Pizano, Program Director 818-205-1770 |
| Replacing Underground Storage Tanks (RUST) Program | To provide loans to independent service station owners and other businesses with underground storage tanks that need financing to replace or remove the tanks | $10,000 - $350,000 | Independent service station owners and other businesses with underground storage tanks |
San Fernando Valley Financial Development Corporation, a Certified Development Company
Antonio Pizano, Program Director 818-205-1770 |
| Revolving Loan Fund | To provide micro and small businesses who have been declined by traditional banks with funds to rebuild, save jobs, and create employment opportunities. Loan proceeds may be used for debt restructure, business acquisition, fixed asset financing, and working capital | $25,000 - $700,000 | Micro home-based, established small and medium sized businesses, manufacturers, franchises, and community based organizations located within the City of Los Angeles |
VEDC
Angela Stanislawski, Director of Lending 818-907-9977 |
| SBA Micro-Loan Program | A Small Business Administration Microloan Program in Los Angeles, Ventura and Orange Counties. The SBA Microloan Program has a capital base of $3 million, which provides financing to existing and start-up businesses. Loans originate from $1,000 to $35,000 for 3-5 year term at market rate with no points. | $1,000- $35,000
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Virtually all types for- profit businesses that meet SBA eligibility requirements |
VEDC
Alex Ebkarian Loan Officer 818-907-9977 |
| Pacoima Micro Loan | In partnership with Wells Fargo Bank, this program offers funding to businesses located in the Pacoima region. Loan amount ranges between $1,000 and $15,000 with terms up to 5 years. | $1,000- $15,000 | Businesses must be located in the Pacoima region. |
VEDC
Alex Ebkarian Loan Officer 818-907-9977 |
| GE $ Women's Microloan | Established in June of 2007, in partnership with GE Money Bank, this program provides funding to Women-owned businesses in the Los Angeles Metro region. Loan amount ranges from $1,000 to $25,000 with terms up to 5 years. | $1,000- $25,000 | Businesses must be located in the Maywood region and at least be 51% women owned. |
VEDC
Alex Ebkarian Loan Officer 818-907-9977 |
| Bank of America Express | 3-5 amortization, one page application and 3-week turnaround | $1,000-$100,000 | DBA/Article of Incorp. must be filed. No B/K in last 10 years, no judgments, collections or criminal records. |
VEDC
Adeliya Gibadulina 818-907-9977 |
| IRP Revolving Loan Fund | In partnership with the United States Department of Agriculture, these funds can be used towards community development projects, new businesses, expansion, creation of employment opportunities, the purchase of equipment, debt refinancing, or business and industrial acquisitions in rural areas or in cities with population of less than 25,000. Interest rate is up to prime plus 3%. Fees are up to a 3% origination fee; term is 3-5 year. Collateral is required as appropriate to secure loans to the maximum extent. Personal guarantees are all owners with at least a 10% ownership. | $25,000- $100,000 | Business must be located in the rural areas of Ventura County and Northern Los Angeles County. City population > 25,000. Existing businesses only - No Start Ups. |
VEDC
Angela Stanislawski, Director of Lending 818-907-9977 |
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Pacoima Development Credit Union (Auto Loans) |
Whether it’s a new or used car, the Pacoima Development Federal Credit Union can help you with your financing. PDFCU offers low rates on new and used cars. When you're ready to buy, your pre-approved auto loan will give you the negotiating power of a cash buyer - and save you time. | Amount varies | Client must be located in the San Fernando Valley for at least 1 year and contribute as little as 10% down. |
For more information, visit www.PacoimaDFCU.org, or call (818) 899-8506. |
