The Valley Economic Development Center, a lending and economic development nonprofit based in Sherman Oaks, has received a $125,000 grant from Wells Fargo & Co. to support its work with women- and minority-owned businesses in the San Fernando Valley.
“Helping small business owners fulfill their dreams is one of the most important things we do at Wells Fargo,” said Patrick Nygren, Wells Fargo San Fernando Valley region bank president. “We are proud to support VEDC’s mission of providing local jobs and assistance to small business owners.”
The money will add to the organization’s roster of services for minority business owners in low-income communities, the VEDC said. The VEDC currently offers consulting, loan application assistance, consulting services and workshops through the Pacoima Entrepreneur Center and the Watts Entrepreneur Business Accelerator.
“We couldn’t be more appreciative of Wells Fargo Bank’s continued support of VEDC and its mission,” VEDC Chief Development Officer Alex Guerrero said in a statement.