VERMONT SLAUSON ECONOMIC DEVELOPMENT CORPORATION (VSEDC) EARNS DISTINCTION AS A SMALL BUSINESS ADMINISTRATION (SBA) WOMEN'S BUSINESS CENTER MAKING IT A FIRST FOR SOUTH LA AND ONE OF 17 NEW LOCATIONS NATIONWIDE
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LOS ANGELES, May 17, 2024 ~ Vermont Slauson Economic Development Corporation (VSEDC) has been chosen as one of the 17 new Women's Business Centers by the U.S. Small Business Administration (SBA), as announced today. This center, powered by Wells Fargo, will provide support to women entrepreneurs at every stage of their journey. The services offered will include free coaching, mentorship, access to capital, business education, and more.

The official launch of VSEDC's Women's Business Center (WBC) is scheduled for Wednesday, May 22, 2024 at the VSEDC headquarters. The event will feature remarks from SBA Administrator Isabella Casillas Guzman and Los Angeles Mayor Karen Bass. This WBC will be the first in South Los Angeles and one of only 20 in California. Its mission is to drive economic growth by helping women scale their businesses effectively and efficiently through acquisitions.

Mayor Bass expressed her excitement about this partnership with VSEDC and other organizations that are working towards opening the city for business and removing barriers for small businesses to grow and thrive. She also thanked the SBA for recognizing VSEDC with this distinction that reflects their commitment to supporting small businesses and women-owned businesses in the community. Mayor Bass encouraged women entrepreneurs and business owners to visit VSEDC for coaching, mentoring, networking opportunities, and resources to guide their business' growth.

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VSEDC's WBC is an institution dedicated to serving minority communities by offering one-on-one counseling, training, networking opportunities, workshops, and technical assistance. The center helps clients with strategic planning, financial management, marketing, procurement, and more. It aims to address the disproportionate lack of access to capital faced by Black women entrepreneurs while navigating traditional hurdles that start-ups face.

Quentin Strode, President & CEO of VSEDC expressed his excitement about partnering with SBA and Wells Fargo to provide extraordinary resources that help women business owners excel. With over four decades of experience, VSEDC understands the unique obstacles faced by women entrepreneurs, especially women of color who have been underserved and excluded from comprehensive support that leads to generational wealth.

The SBA's Office of Women's Business Ownership is a solution that empowers women entrepreneurs through advocacy, outreach, education, and support. As a Community Development Financial Institution, VSEDC will create a lending pipeline to guide women from the margins of entrepreneurship into a realm where they can scale to new heights.

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Jack Olree, Vice President Community Impact and Sustainability at Wells Fargo expressed his excitement about collaborating with VSEDC to bring the first SBA small business women's center to South Los Angeles. He believes that this will provide emerging and established small business owners with critical tools and assistance for long-term growth and allow local communities to thrive.

VSEDC welcomes interview requests and credential requests for the official launch on Wednesday, May 22, 2024 at 9:45 a.m. -11:00 a.m. at Vermont Slauson Economic Development Corporation located at 1130 W. Slauson Avenue in Los Angeles. This launch will mark an important milestone in supporting women entrepreneurs in South Los Angeles and creating opportunities for economic growth in the community.
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