Employee Spotlight

VSEDC Expands the Team

By July 6, 2019 September 3rd, 2019 No Comments

VSEDC Hires Richard Pallay as Director of Loan Services Where He Will Further Enhance Financial Resources for Business Owners & Aspiring Entrepreneurs

(LOS ANGELES-July 2, 2019) —With nearly a decade of experience facilitating economic development initiatives for a wide range of public and private organizations, Richard Pallay brings a wealth of expertise that will allow VSEDC clients to achieve their entrepreneurial goals. As the newly appointed Director of Loan Services, the New York native is tasked with developing the infrastructure for VSEDC’s lending efforts, including loan servicing and supervising underwriting.

“It’s an absolute honor to join VSEDC’s efforts in connecting South Los Angeles entrepreneurs to financial resources to help them thrive,” said Pallay. “Coupled with our diverse business courses that promote the fundamentals, our loan services play an instrumental role in providing the resources required for success.”


As an alumnus from Pasadena City College and Pace University, Pallay has worked for the financial giant Wells Fargo, the City of Los Angeles, and Opus Bank to name a few. In several pivotal roles, he has facilitated more than $60 million dollars in loan submissions. This infusion of capital not only allows businesses to operate, but it allows stimulates employment opportunities in communities that need support the most.

“Richard provides an exceptional level of expertise that will result in plentiful opportunities for aspiring business owners,” said VSEDC’s President & CEO, Joseph T. Rouzan III. “His diverse experience serves as a tremendous asset to our team, which will yield results with lasting economic impacts.”

For more information on VSEDC’s loan efforts, please visit VSEDC.org or call (323) 753-2335.

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