VEDC CELEBRATES NINE YEARS OF THE LOS ANGELES BUSINESS ASSISTANCE PROGRAM

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1 ALL ABOUT BUSINESS Spring 2011 VEDC CELEBRATES NINE YEARS OF THE LOS ANGELES BUSINESS ASSISTANCE PROGRAM The City of Los Angeles continues to be the small business capital of the country and VEDC is right there supporting entrepreneurs with consulting, training and financial services. Over the past 9 years, VEDC has assisted small business owners through the Los Angeles Business Assistance Program (LABAP) at two locations: the SFV Micro Program in the San Fernando Valley and the Downtown LA Retail Project in Los Angeles. Their overwhelming success is made evident by the 5,000 small business owners who have come to VEDC seeking consulting, training and financial services. Responsible for nearly 100 new businesses opening their doors and the creation of more than 700 jobs through the LABAP, VEDC is proving they are vital to the economic recovery desperately needed in Los Angeles. Los Angeles City Councilmember Jan Perry says, "I am proud of the accomplishments the Downtown LA Retail Project has made. The economic impact for this area is substantial. It serves as proof that even in these tough economic times, businesses can continue to open and flourish. We look forward to continuing to work together to steadily improve the revitalization of this area in our city." Small business participants in the LABAP contribute significantly to the City's economy through job creation and tax revenue and VEDC is proud to be among the five (5) non-profit organizations throughout the city contributing to the program's success. Many new and existing businesses would fail without the technical assistance and financing offered by VEDC and the LABAP service providers. "The Los Angeles Business Assistance Program is an exemplary model for collaboration between municipal government and the not-for-profit sector. The program is efficiently and effectively delivered by VEDC with the support of the City of Los Angeles to address economic development need," stated Don St. Clair, VEDC Board Chairman. "We are proud of our contribution to the city's economic recovery and grateful for our relationship with the city administration." Thanks to LABAP, VEDC is able to offer training through the Entrepreneurial Training Program and specific courses targeted at the needs of our clients including financial planning, formulation of a business plan, marketing and establishing a business. Business owners coming to VEDC also have access to one-on-one business consulting, help with location/site selection, loan packaging and financial services. Further, the success of the Downtown LA Retail Project has been due in part to the support and additional federal funding through Congresspeople Lucille Roybal-Allard, Brad Sherman and Howard Berman. From left: Don St. Clair, VEDC Board Chair; Roberto Barragan, VEDC President; Marsel Watts, VEDC; Congresswoman Nydia M. Velázquez; Dannielle Campos, VEDC Board Member and Congresswoman Lucille Roybal-Allard share a table at Nickel Diner, a successful VEDC LABAP client. Created and funded by the Community Development Department and administered by VEDC, the LABAP has been the only program in the City of Los Angeles specifically for small business showing that the City is doing their part to make sure that Los Angeles is in sync with the goal of the federal government to support and encourage entrepreneurship and small business. CELEBRATING 35 YEARS OF SUCCESSFUL FINANCING, CONSULTING AND TRAINING TO THE BUSINESS COMMUNITY

2 VEDC / Women s Business Center / San Fernando Valley Financial Development Corporation 5121 Van Nuys Boulevard, 3rd Floor Van Nuys, California T: F: (WBC) T: F: (SFV-FDC) T: F: Capital Access Center / Downtown LA Retail Project 315 West 9th Street, Suite 501 Los Angeles, California T: F: Pasadena Development Corporation 1015 North Lake Avenue, Suite 107 Pasadena, California T: F: "To create and sustain jobs and businesses in our communities by providing high-quality economic development services. San Fernando Learning Center 1240 Truman Street, Suite 150 San Fernando, California T: F: Pacoima Development Federal Credit Union Van Nuys Boulevard Pacoima, California T: F: Pacoima Training Center Van Nuys Boulevard Pacoima, California T: F: Roberto Barragán, President VEDC info@vedc.org Board of Directors Don St. Clair, Chair Woodbury University Mel Kohn, Past Chair Kirsch, Kohn & Bridge, LLP Scott Aney, Vice-Chair City National Bank Pegi Matsuda, Member-at-Large San Fernando Valley Business Journal Dutch Ross, Treasurer Economic Resources Corporation FINANCING Los Angeles Business Development Corp. Revolving Loan Fund: Direct Lending to $700,000 Los Angeles Citywide Small Business Loan Program: $45,000 - $450,000 Merrill Lynch: up to $100,000 Opportunity Finance Network: up to $100,000 USDA Revolving Loan Fund: $25,000 - $100,000 SBA Microloans: up to $35,000 US Bank Southern California Microloan: up to $50,000 GE Money Women s Business Microloans: up to $25,000 Pacoima Microloan / Wells Fargo Fund: up to $25,000 Capital Access Center SBA 7(A) Loans: $35,000 - $2,000,000 SFV-FDC (SFV-SBDC, a CDC lender) State Loan Guarantees up to $1,000,000 SBA 504 Loans: up to $5,000,000 VEDC is a Certified Community Development Financial Institution TRAINING / CONSULTING The City of Los Angeles Entrepreneurial Training Program (ETP) is a workshop series designed to help emerging entrepreneurs with their business ventures. The City of Los Angeles Microenterprise Training Program (MTP) is specially designed workshops to provide existing business owners with real life applications to grow and/or sustain their businesses. The PRIME project is designed to assist disadvantaged microentrepreneurs whom lack access to capital and who are in low to very low income levels achieve micro finance opportunities, as well as proper entrepreneurial training. An SBA Women's Business Center (WBC) serves to promote the creation & growth of businesses by women & minority entrepreneurs in the greater L.A. area. The WBC assists clients with training, consulting & business financing. The doors are open to ALL regardless of gender, race or affiliation. Business Resource Library is Open to the public Monday - Friday 8:30am - 5:00pm Experienced consultants available to provide one on one guidance. By appointment only. Nishen Radia, Secretary FocalPoint Partners Dannielle Campos Bank of America Foundation Greg Duncan Pinkerton Government Services, Inc. Alex Guerrero Tower General Contractors John Marquis Vallarta Supermarkets Walter Mosher Byron K. Reed Wells Fargo Bank Marvin R. Selter CMS, Inc. Leandro Tyberg Primestor Development Anne Williams California United Bank Irwin Wong Cathay Bank ECONOMIC DEVELOPMENT Pacoima Development Federal Credit Union is a financial institution established by VEDC to meet the needs of low income residents in Pacoima and surrounding areas. PDFCU Offers: Unsecured Loans New & Used Auto Loans SBA 7(A) Loans Pacoima Training Center provides job readiness workshops, job placement assistance, and financial literacy training. Volunteer Income Tax Assistance (VITA): In 9 years, VEDC has helped residents receive over $4 million in income tax refunds. San Fernando Learning Center in partnership with Union Bank provides essential computer training to local residents. RETAIL The City of Los Angeles Downtown Retail Project: provides FREE retail consulting services to any businesses wishing to locate or expand in Downtown L.A. Services Include: Business location / site selection Loan packaging and placement Market assessment Business consulting and training Retail Revitalization is a targeted effort to redevelop, revitalize and/or build property in blighted areas to improve the communities we serve. Development Services assists clients with real estate development, tenant attraction and construction financing. Websites: Funded in part through a Cooperative Agreement with the U.S. Small Business Administration. All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA. Reasonable accommodations for persons with disabilities will be made if requested at least two weeks in advance. Contact us at (818) to make arrangements.

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4 On Saturday, September 24, 2011, please join VEDC in our "Celebration of Small Business." We look forward to an unforgettable evening gala to honor successful small businesses and those who have made entrepreneurial success possible over the past 35 years. We urge you to participate in this important business gathering that takes place only once every five years to celebrate VEDC and the remarkable progress of small businesses. Gala program includes an awards ceremony, dinner, dancing and live musical entertainment surrounded by the dynamic atmosphere of Woodbury University in Los Angeles, California. HUBBARD VILLAGE CENTER GROUND BREAKING CEREMONY VEDC is very happy to be involved with a new development in Sylmar which brings the promise of new jobs in the San Fernando Valley community. The Hubbard Village Center is the first major commercial center to open in this area in the last 40 years. Thanks to help from VEDC and $2.6 million in funding from California United Bank the Hubbard Village Center is on its way to becoming a reality. The project was approved in 2007 and the property owners, Ralph Torres and Albert Gonzalez have been seeking funding since then. They came to VEDC looking for help in obtaining the needed financing, and VEDC worked with them by putting together a loan package and then connected them with California United Bank. Breaking ground at Hubbard Village Center from left: Ralph Torres, Co-Owner; Councilman Richard Alarcon; Albert Gonzalez, Co-Owner; Anne Williams, California United Bank & VEDC Board Member; William Sloan, California United Bank; and Roberto Barragan, VEDC President. "Small business owners are the engine of our economy and a key element in our nation's economic recovery," said David I. Rainer, California United Bank President, Chairman and CEO. "California United Bank is proud to work with VEDC in funding the Hubbard Village Center which assures new jobs for the San Fernando Valley." The Hubbard Village Center is a 20,000 square foot shopping center to be built at Hubbard Street near Glenoaks Boulevard, and will be the new home of the Casa Torres restaurant. They are also in discussions with a sushi restaurant and an insurance firm which leaves 8,000 square feet available for retail development and 6,000 square feet of office space. Councilman Richard Alarcon is in full support of this development and the hope it brings to the area. "This project is a critical step forward toward improving the quality of life for the Sylmar community," commented Councilman Alarcon. The Hubbard Village Center has already created jobs in the San Fernando Valley. There are two contracting companies already at working grating and clearing the property. The project estimates there will be 150 construction jobs created and an undetermined number of jobs when the project is complete.

5 CONGRESSWOMAN ROYBAL-ALLARD HOSTS SMALL BUSINESS WORKSHOP Congresswoman Lucille Roybal-Allard (CA-34) welcomed small business owners from throughout the 34th Congressional District to a small business workshop she hosted at the Bell Community Center to assist them in accessing resources and the capital they need to prosper and grow. "Small businesses are the engine of our economy. Making sure our small businesses have access to capital and other resources they need is critical to our nation's and our communities' economic recovery. Realizing that the recession has hit small businesses especially hard, I organized this workshop to connect small business owners in my district with representatives in a variety of fields, including government agencies, banks and non-profits, poised to offer valuable resources and advice," said Congresswoman Roybal-Allard. Roberto Barragan, VEDC President, said of the workshop, "I commend Congresswoman Roybal-Allard on her determination to support and assist small businesses in our communities. VEDC has had the privilege of working with the Congresswoman through our Downtown Retail Project and is proud to be a part of this small business workshop to help bring relevant economic information and access to capital to small businesses." VEDC President, Roberto Barragan moderates the "Stimulating Business Growth" workshop. VEDC IS PROUD TO SUPPORT U.S. BANK BRANCH OPENING IN PANORAMA CITY BUSINESS TRAINING 16 Principles of Success in Business - 4/20, 5/18 Accounting & Bookkeeping - 5/24 All About Business Loans - 4/13, 4/14, 4/27, 5/11, 5/25, 5/26 Business Plan Essentials - 4/13, 5/11 Business Survival in a Bad Economy - 4/16, 5/21 Entrepreneurial Training Program - starts 4/7 - ends 5/26 Expanding Your Target Market - 5/3 Federal & State Payroll Tax Seminar - 4/19, 5/24 Intro to Financial Statements - 5/18 Legal Issues for Small Businesses - 4/6 Marketing Your Business Right Series - starts 4/6 - ends 5/4 Navigating the FAR - 5/10 Online Skills for Small Business Series - starts 5/3 - ends 5/24 Product Development - 4/26 QuickBooks Tutorial - 4/27, 5/18 Sales & Marketing - 4/12 Sales & Negotiating for Non-Salespeople - 5/17 Lisa Espindola & David Friedman, US Bank, Councilmember Tony Cardenas, Stephani Velador, Branch Manager, Councilmember Richard Alarcon, Roberto Barragan, VEDC and Darrell Brown, US Bank Senior V.P. & Region Manager VEDC was proud to join U.S. Bank as they celebrated at the grand opening of a new branch at Roscoe Boulevard in Panorama City. Roberto Barragan, VEDC President, Councilmember Richard Alarcon and Councilmember Tony Cardenas were speakers at the event congratulating Darrell Brown, U.S. Bank Senior Vice President and Region Manager, on the decision to open an office in the underserved community of Panorama City, California. U.S. Bank has been in California since the late 1980s but in recent years has fueled its growth with the acquisitions of Downey, PFF and three banks formerly owned by First Bank of Oak Park (FBOP) - San Diego National Bank, California National Bank and Pacific National Bank. California continues to be a growth market for U.S. Bank, where it has nearly doubled in size since Registration Information For information on any of the classes listed above or to find out more about our business training, please contact Felicia Boone at (818) Pre-registration is required. Certain restrictions apply to some programs. Complete training schedule is available online at The new branch manager, Stephani Velador, has been with U.S. Bank since 2008 and has served in the banking industry since Ms. Velador will lead a team providing banking services to consumers and small business customers in the Panorama City area. In a disadvantaged community overrun with check cashers and predatory lenders, VEDC is proud to show their support of U.S. Bank as they strive to bring options to the Northeast San Fernando Valley and start residents on their way to financial independence.

6 VEDC IS NOW FUNDING THE 10,000 SMALL BUSINESSES INITIATIVE The Goldman Sachs' 10,000 Small Businesses initiative was designed for owners of small businesses with limited financial resources, and with few opportunities to otherwise access a business education designed to enhance small business success. Broad characteristics of business owners targeted to participate include, but are not limited to: business revenues between $150,000 and $4 million in 2009; business in operation for at least two years; at least four employees; operations in economically underserved areas; and a business model that could scale to create more jobs. VEDC is proud to announce that within the first 6 months of the 10,000 Small Businesses program, 4 loans have been funded totaling $1.5 million. Roberto Barragan, President of VEDC, stated "Over the past year, small business owners have become increasingly disillusioned and, in some cases, given up looking. Small businesses can now come to VEDC, thanks to Goldman Sachs support, to secure the financing they need." VEDC THANKS YOU FOR YOUR SUPPORT For sponsorship opportunities, please contact Sandra Romero at (818) or sromero@vedc.org