About Los Angeles LDC

Vision/Mission

Our mission is to provide capital and advisory services to foster positive community development impacts in distressed neighborhoods by aligning the needs of our borrowers and investors.

Corporate Overview

The LDC is a nonprofit 501 (c) (3) public benefit corporation. Formerly, it was licensed by the U.S. Small Business Administration, Department of Business Oversight of the State of California under the commercial finance lender statutes (CFL). Beginning in 2002, the LDC held the designation of Community Development Financial Institution under the U.S. Department of Treasury and California Department of Insurance before relinquishing these certifications allowed to expire. During the period when these certifications and licenses were maintained they played a small role in allowing the LDC received a $200,000 low interest rate loan to assist the organization with its deployment of $1 Billion of capital into higher poverty low-income neighborhoods and primarily to borrowers of colors.

The LDC offers access to capital and community development investments to its clients - both borrowers and investors. Our variety of borrowers ranges from start up, emerging, dynamic mid-size businesses and nor profit organizations while our investors includes commercial banks, community development loan funds, socially responsible investors, government programs and faith based organizations. We couple our delivery of capital with high-quality advisory services to provide market-driven priced capital and the best financial solutions available in the markets we serve. Our demonstrated ability to merge capital access, profitable community development investment and financial advisory services to deliver impactful and comprehensive solutions to the most complex community development financing problems in the low income and distressed neighborhoods makes the LDC a much sought after partner.

Legal Business Description

LDC is a not for profit, public benefit corporation organized to promote general and social welfare. It is exempt from income taxes under Section 501(C) (3) of the Internal Revenue Code and Section 23701 (f) of the California Revenue and Taxation Code. The organization is governed by a nine (9) member board of directors consisting of business professionals with backgrounds in banking, finance, real estate, law and economic development.

Business Location

The LDC is located just west of the Downtown Central Business District at 520 N. La Brea Avenue, Ste. 108, Inglewood, CA 90302. The office is sited in the Los Angeles State Enterprise Zone where its staff occupies 1,400 square feet of space and maintains record storage at an offsite facility.

History

In 1980, visionary Mayor Tom Bradley launched the Local Development Corporation to serve the neighborhoods in Los Angeles that suffered from redlining and disinvestment. The LDC operated as part of the Mayor's Office for the next 15 years and with the election of Mayor Richard J. Riordan it became an integral part of the LA Business Team. In 1995, under the leadership of Mayor Riordan the organization's first chief executive officer was hired to develop and sustain the most innovative community development capital access strategy to serve the distressed neighborhoods of Los Angeles. Since its inception, the LDC has facilitated or funded over $200,000,000 of financing for businesses and real estate development projects in distressed communities of the City of Los Angeles.