Funds Support Entrepreneurship Training
LOS ANGELES, CA — The Valley Economic Development Center (VEDC) has received a $50,000 grant from the Citi Foundation Grant to support its Micro Enterprise Initiative (METI), an eight-week training program tailored to entrepreneurs looking to start or expand their businesses.
The METI program will focus on small business owners who have been challenged by the current economic climate through job loss, career transition, or other barriers to success. METI clients are encouraged to work one-on-one with consultants who will assist them with business development skills, developing business plans and other financial guidance.
“Citi Community Development, Citibank and Citi Foundation have always been generous in their support of our programs,” said VEDC President and CEO Robert Barragan, “We are proud to work in partnership with Citi to ensure that everyone has access to an entrepreneurial education and financial services they need to succeed and achieve their dreams.”
“Citi has a long-standing commitment to supporting programs that provide access to financial capability and asset building,” said Gustavo Bidart, Citi’s Southern California Regional Director of Community Development. We are especially proud to support VEDC’s micro-entrepreneurship efforts because of the job growth and small-business expansion they produce.”
Through the METI program, VEDC plans to service existing micro entrepreneurs by creating specialized business training sessions throughout Los Angeles County. The goal is to provide distressed small businesses with the proper tools and resources needed in today’s economy.
VEDC is the largest non-profit small business lender in California offering direct micro and small business loans through programs including SBA Community Advantage and SBA 504 loans. As a national small business lender, VEDC lends $25 million annually, while providing direct business assistance services to more than 4,000 businesses. With seven offices nationwide VEDC has supported the small business owner for 36 years with the goal of creating and sustaining jobs and businesses in under-served communities. For more information visit www.vedc.org.