VEDC gets $1 million loan
Merrill Lynch announced Monday that it had loaned $1 million to the Valley Economic Development Center that will be used to help small businesses throughout Southern California. Gregory J. Wilcox in the Daily News.
The Merrill Lynch credit facility comes about two weeks after the Los Angeles City Council approved a $15 million loan to the nonprofit VEDC, a small-business incubator based in Van Nuys.
The agency's loan fund now totals about $25 million, said its president, Roberto Barragan.
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Los Angeles Daily News City Hall reporter Rick Orlov writes about politics on the local, state and national stage.
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