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. It is licensed by the Department of Corporation of the State of California under the commercial finance lender statutes (CFL). Also, the LDC enjoys the status of Community Development Financial Institution under the California Organized Investment Network (COIN) program offered by the Department of Insurance and operates under the U.S. Small Business Administration Associate Development Company (ADC). These programs afford the LDC the opportunity to solicit tax credit investment from insurance companies and arrange loans under the SBA 504 program.

LDC offers access to capital and community development investments to clients - both borrowers and investors - that range from start up, emerging, dynamic mid-size businesses to commercial banks, community development loan funds, socially responsible investors, high-quality service coupled with market-driven priced capital and investments. LDC merges capital access and community development investment and financial advisory services to provide comprehensive solutions to the most complex community development financing problems in our industry.

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. Therefore, the LDC has no shareholders, members, or owners.

Business Location

The LDC is located in the Downtown Central Business District at 1055 W. 7th Street, Suite 1940, Los Angeles, California 90017. The staff occupies 2,000 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 $150,000,000 of financing for businesses and real estate development projects in distressed communities of the City of Los Angeles.