Vermont Slauson Economic Development Corporation (VSEDC), a long-standing nonprofit and certified Community Development Financial Institution (CDFI), has been awarded Los Angeles Metro’s $20 million Pilot Investment Fund.
The announcement was made at VSEDC’s annual Partnership Appreciation Mixer on Aug. 7 held at the James Irvine Japanese Garden at the Japanese American Cultural & Community Center in Little Tokyo.
The fund, part of Metro’s Transit-Oriented Communities Economic Development Program, is aimed at supporting small businesses and nonprofits along the K Line and Little Tokyo segment of the A/E Line. The initiative focuses on economic resilience, displacement mitigation, and the preservation of cultural and community vitality near transit corridors.
VSEDC Board Chair Kecia Washington said, “This funding will play a vital role in advancing the cultural and economic vitality of South L.A., the Crenshaw Corridor, and Little Tokyo for years to come.”
VSEDC has a deep-rooted history with the Japanese and Japanese American communities. In 2000, Fuji Bank & Trust supported the organization’s acquisition of the Vermont Slauson Shopping Center, marking a significant partnership that included a ceremonial Daruma doll eye-coloring by Fuji Bank President Kenichiro Tanaka and VSEDC founder Marva Smith Battle-Bey.
VSEDC President and CEO Quentin Strode added, “Today, I am proud to celebrate 45 years of VSEDC and honor Marva’s legacy by expanding access to capital, technical assistance, and sustainable growth for our communities. With the support of Metro’s Pilot Investment Fund, we’re not just investing in businesses, we’re investing in the future of South L.A., the Crenshaw Corridor, and Little Tokyo, ensuring that these communities continue to thrive with resilience, equity, and purpose.”
VSEDC has deployed over $28.3 million in loans since 2020 in these target areas and will continue its impact by partnering with a Minority Depository Institution to deliver the program.
As a symbolic next step, VSEDC will deepen its partnerships with Little Tokyo community organizations with hopes of one day filling in the second eye of the Daruma doll together, signifying shared success and a fulfilled vision for community-driven growth.
For more information, visit www.vsedc.org.