VERMONT SLAUSON ECONOMIC DEVELOPMENT CORPORATION RECEIVES $100,000 GRANT FROM PNC BANK TO SUPPORT SMALL BUSINESSES IN SOUTH LOS ANGELES & BEYOND

Through diverse programming including a CEO Series and a Digital Accelerator program, the funds will accelerate small businesses and close the digital divide resulting in a stronger, more vibrant community

LOS ANGELES, Feb. 21, 2025 /PRNewswire/ -- Vermont Slauson Economic Development Corporation (VSEDC) received a $100,000 grant from PNC Bank to support VSEDC's comprehensive programming for small businesses and entrepreneurs in South LA. Designed to inspire economic growth, the funds will support VSEDC's signature programs including a Digital Accelerator program with Youth and the organization's signature CEO Series to serve entrepreneurs who are ready to launch and scale their business.

"VSEDC is honored to partner with PNC Bank to enhance opportunities for small businesses on their journey to success," said Quentin Strode, President & CEO of VSEDC. "South Los Angeles is home to brilliant minds and motivated entrepreneurs who simply need resources and a chance. We are thrilled that PNC shares our vision for uplifting communities that have historically lacked the resources all communities deserve."

Recognizing that small businesses often lack the necessary tools for elevation, VSEDC designed a CEO Series—a seven course cohort that guides entrepreneurs through the process of launching and scaling their ventures. Led by a team of experts from across a wide spectrum of experience, course topics include business models, determining market needs, finding ideal customers, operating skills, marketing and social media strategies, and more. To serve current entrepreneurs and simultaneously prepare the next generation of leaders, VSEDC's Digital Accelerator program with Youth that bridges the digital divide by providing small business entrepreneurs, with an emphasis on minority-and women-owned businesses, with digital marketing and website development training. This unique venture trains South LA youth (ages 18-24) in parallel to excel in digital marketing, and place them in internships with the participating businesses.

"PNC takes great pride in empowering small businesses to thrive in an ever-evolving economy," said Todd Wilson, regional president of Greater Los Angeles for PNC Bank. "We're honored to support VSEDC's mission through a meaningful investment that fosters local entrepreneurial growth and drives lasting impact."

By equipping entrepreneurs with essential skills, The CEO Series helps businesses expand leading to a stronger local economy. As businesses grow, they create jobs, reduce unemployment, and strengthen the overall health of households in underserved communities. According to recent statistics, more than 100,000 LA County residents live without internet access. The Digital Accelerator program is an immediate solution that connects youth to practical training in digital marketing, website development, and online branding—equipping them with real-world skills that are essential in today's economy. Unlike many unpaid programs, this initiative pays youth for their work, allowing them to earn income while gaining valuable job experience as a major step toward financial independence.

"With a history that spans nearly 50 years, we are relentless in our quest to end the cycle of poverty that threatens South Los Angeles," said Strode. "Thanks to the dynamic support from partners like PNC Bank, we take one step closer to creating a more equitable city where every person has the chance to thrive."

About VSEDC
For more than four decades, VSEDC has facilitated community development of the South Los Angeles area by providing programs that revitalize the physical, economic, and social life of the community. A newly-designated Community Development Financial Institution (CDFI), VSEDC has developed and implemented a comprehensive approach to community economic development that includes business development, access to capital, technical assistance and training, commercial, and industrial development. Founded by the late Marva Smith Battle-Bey in 1981, VSEDC works to create a South Los Angeles with strong neighborhoods and thriving communities. To learn more, please visit www.vsedc.org.

About PNC Bank

PNC Financial Services Group, Inc. is one of the largest diversified financial services institutions in the United States, with an extensive coast-to-coast branch network, a presence in all 30 of the country's largest markets, and a history dating back to 1865, providing retail banking, including residential mortgage, corporate and institutional banking, and asset management to individuals, institutions, and businesses of all sizes.

To learn more, visit www.pnc.com.

SOURCE Vermont Slauson Economic Development Corporation