Monthly Archives: July 2017

Vermont-Slauson Economic Development Corporation & Grandpoint Bank: Helping Small Businesses

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Members of our staff recently attended  Vermont-Slauson Economic Development Corporation’s (VSEDC) celebration of 35 years of service to South Los Angeles. VSEDC is one of the many wonderful EDCs we partner with to provide access to capital for small businesses.

In their own words, the primary mission of VSEDC is to “facilitate community development of the South Los Angeles area by providing programs structured to revitalize the physical, economic and social life of the community. In order to realize this objective, VSEDC has developed and implemented a comprehensive approach to community economic development that includes business development, technical assistance and training, residential housing, commercial and industrial development.”

Over those 35 years, the VSEDC has provided assistance to more than 500 businesses.

So, how can they help your business? One of their most popular services – and yes, it’s free – is helping craft business plans. Whether you want to map out a new business or need to present a business plan to a loan officer, the talented staff and volunteers at VSEDC can help guide you through the process.

They’re also brilliant at identifying and directing business owners toward the resources they need. We’re proud to say that one of those resources sometimes includes Grandpoint Bank. VSEDC was happy to learn about our enthusiasm for lending to small businesses, particularly ones in disadvantaged areas of the communities we serve. Through our Small Business Loan program, we can fund three- or five-year term loans or a business revolving line of credit ranging from $5,000 to $75,000.

We recognize that small businesses are the lifeblood of our local economies and often define the character of our communities. Sometimes, a relatively small loan can make the difference between those companies thriving or struggling. We love to grow with our clients and be part of the process of an entrepreneur creating something great. Today’s small business could easily become a major employer for its community, and if we can support those businesses, we love our jobs even more.

It may surprise you to learn that our Small Business Loans can be turned around within two weeks from the time we receive all the information we need from the business owner. After those two weeks (or less), if approved, our customer can leave with a cashier’s check in hand.

Not everyone who visits VSEDC needs a loan, of course. Another popular service the organization provides is assistance with business taxes. Chances are that free help with your company’s taxes will sound terrific — unless you’re running an accounting business.

Does the word Twitter send your heart aflutter? VSEDC offers (again, free!) help to strategize, develop and populate a social media program that’s right for your business. They also offer an entrepreneurial training program, training about how to have a green business, information about tax incentives and credits and so much more.

We very much value our relationship with the fine folks at VSEDC and all of the wonderful small businesses we get to serve. Whether it’s VSEDC or another Los Angeles BusinessSource Center, we encourage small business owners to take advantage of the remarkable resources available through these organizations.

To find out more about Grandpoint Bank’s Small Business Loan Program, contact Darlene Esquerra, Community Development Officer, at 213.542.2703 or desquerra@grandpointbank.com

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Happy Independence Day

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In observance of our nation’s birthday, we wish everyone a happy 4th of July.

In honor of the holiday, we’d like to share some history about the American flag with you from usa-flag-site.org↗:

On January 1, 1776, the Continental Army was reorganized in accordance with a Congressional resolution which placed American forces under George Washington’s control. On that New Year’s Day the Continental Army was laying siege to Boston which had been taken over by the British Army. Washington ordered the Grand Union flag hoisted above his base at Prospect Hill. It had 13 alternate red and white stripes and the British Union Jack in the upper left-hand corner (the canton).

In May of 1776, Betsy Ross reported that she sewed the first American flag.

On June 14, 1777, in order to establish an official flag for the new nation, the Continental Congress passed the first Flag Act: “Resolved, That the flag of the United States be made of thirteen stripes, alternate red and white; that the union be thirteen stars, white in a blue field, representing a new Constellation.”

Between 1777 and 1960, Congress passed several acts that changed the shape, design and arrangement of the flag and allowed for additional stars and stripes to be added to reflect the admission of each new state.

  • Act of January 13, 1794 – provided for 15 stripes and 15 stars after May 1795.
  • Act of April 4, 1818 – provided for 13 stripes and one star for each state, to be added to the flag on the 4th of July following the admission of each new state, signed by President Monroe.
  • Executive Order of President Taft dated June 24, 1912 – established proportions of the flag and provided for arrangement of the stars in six horizontal rows of eight each, a single point of each star to be upward.
  • Executive Order of President Eisenhower dated January 3, 1959 – provided for the arrangement of the stars in seven rows of seven stars each, staggered horizontally and vertically.
  • Executive Order of President Eisenhower dated August 21, 1959 – provided for the arrangement of the stars in nine rows of stars staggered horizontally and eleven rows of stars staggered vertically.

Today the flag consists of thirteen horizontal stripes, seven red alternating with 6 white. The stripes represent the original 13 colonies, the stars represent the 50 states of the Union. The colors of the flag are symbolic as well: Red symbolizes Hardiness and Valor, White symbolizes Purity and Innocence and Blue represents Vigilance, Perseverance and Justice.

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This icon appears next to every link that directs to a third party website not affiliated with Grandpoint Bank. Please be advised that if you click this link you will be taken to a website hosted by another party, where you will no longer be subject to, or under the protection of, the privacy and security policies of Grandpoint Bank. We recommend that you review and evaluate the privacy and security policies of the site that you are entering. Grandpoint Bank assumes no liability for the content, information, security, policies or transactions provided by these other sites.

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