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Pasadena Development Corporation (PDC) was founded in 1977 as a result of the efforts of the City, Federal Government, and Chamber of Commerce to stimulate job creation. PDC is a non-profit 501(c)(3) local economic development corporation that utilizes both government: Community Development Block Grant (CDBG), Economic Development Administration Funds, U.S. Treasury, and private bank funds. These loans are for small businesses within the San Gabriel Valley and Los Angeles County. PDC is a Certified Community Development Financial Institution (CDFI) that allows banks to receive credit under the Community Reinvestment Act (CRA). Banks can make equity equivalent investments in PDC to support its operations and revolving loan fund (RLF). Purpose | ||
| • | Contracted by the City of Pasadena, PDC operates and provides a small business revolving loan program, technical assistance, and counseling program to micro and small businesses that create or retain jobs for individuals from low-to-moderate income families. | |
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