The Vermont Slauson Economic Development Corporation (VSEDC) has proudly received the distinction as a Community Development Financial Institution (CDFI) making it one of the only non-profits in South Los Angeles authorized to assess and distribute funding. Designed to serve low-Income people and/or those who work in economically-distressed communities, CDFIs provide a unique and wide range of development services, financial products, and financial services that help customers build wealth and achieve the goal of participating in the “ownership” society.
“We are thrilled to provide financial resources that allow Angelinos to achieve self-sufficiency and excel in business and beyond,” said VSEDC’s Executive Director Joseph Rouzan. “Our team looks forward to providing loans, business assistance, financial planning, and more with the ultimate goal of improving communities that need economic resources the most.”
With products similar to those provided by mainstream banking institutions, VSEDC will offer mortgage financing for low-Income and first-time homebuyers, small business lending, and lending for community facilities. Considering urban communities often endure more stringent requirements when attempting to qualify for financial products, VSEDC bridges the access gap allowing residents to economically engage and thrive.