DEEP POCKETS EYE VALLEY FOR LOANS, ADVICE TO BUSINESS GENESIS AIMS TO BACK LOCAL VENTURES.Byline: Brent Brent, outer borough (1991 pop. 226,100) of Greater London, SE England. The area is a rail and industrial center. Its manufactures include automobile parts, clocks and watches, and electrical equipment. Hopkins Staff Writer A deep-pocketed backer has its eyes on the San Fernando Valley San Fernando Valley Valley, southern California, U.S. Northwest of central Los Angeles, the valley is bounded by the San Gabriel, Santa Susana, and Santa Monica mountains and the Simi Hills. , aiming to bring money and jobs along with its interest. Genesis LA Economic Growth Corp., a private, nonprofit A corporation or an association that conducts business for the benefit of the general public without shareholders and without a profit motive. Nonprofits are also called not-for-profit corporations. Nonprofit corporations are created according to state law. group based downtown, announced Thursday that it will partner with the Economic Alliance of the San Fernando Valley and the Valley Economic Development Corp. Genesis brings with it access to tens of millions of dollars in funds, with an aim to distribute at least $5 million within the next two years. Targeting developers planning difficult-to-finance projects, the partnership will look to provide loans, offer business counseling and connect interested parties. ``It's harder in the Valley,'' said Brad Rosenberg, president and chief executive officer of Genesis. ``The infrastructure hasn't been set up here, because people have always focused on the denser areas of poverty like South L.A. But there's a lot of businesses that need help here, lots of businesses moving out. We hope we can change that.'' With job cuts or relocations announced at Washington Mutual “WaMu” redirects here. For the Washington, DC radio station, see WAMU. Washington Mutual (or WaMu; NYSE: WM) is the United States' largest savings and loan association. , Ronco Corp. and Superior Industries International Inc. in the Valley just in recent weeks, the groups will have plenty of issues to deal with. Genesis already has some experience in the area, providing loans for an industrial park in Van Nuys and the SunQuest Business Park in Arleta. Though Rosenberg said the group does not keep figures on the percentage of loan requests that it ultimately approves, he said he aspires to offer some service to each business that approaches Genesis, whether it's in the form of money, advice or referrals. Bruce Ackerman Bruce Arnold Ackerman (born August 19, 1943) is a famous constitutional law scholar in the United States. He is a Sterling Professor at Yale Law School and one of the most frequently cited legal academics in the country. Biography Ackerman received his B. , president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of the Economic Alliance, welcomed the partnership, saying it would help bring employment to under-represented areas. ``Our focus is jobs, jobs, jobs Steven's chemistry professor tells him that he is wanted at the bursar's office immediately since his college tuition hasn't been paid for yet. He finds out later on that his father ran through the savings account after getting fired. ,'' he said. ``Whatever it takes to keep businesses here, we want to do it.'' Brent Hopkins, (818) 713-3738 brent.hopkins(at)dailynews.com |
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