Renewing its commitment to small business success in the DC metro area, the Latino Economic Development Center (LEDC) today launched its new Lending subsidiary the Community Asset Fund for Entrepreneurs to provide business loans to qualified start-up and existing businesses that have difficulty obtaining credit from mainstream financial institutions.
The Fund, the new face of LEDC’s Lending program, will help qualified borrowers access business loans between $5,000 and $50,000. Since 1997, LEDC’s Lending Program has provided more than $4 million of capital to support entrepreneurs in the DC area.
“Capable entrepreneurs are often excluded from accessing business loans from the formal financial sector,” said LEDC Executive Director Manny Hidalgo. “Given our tremendous growth, the Fund’s new leadership will help us continue to scale up our efforts in the region, ensure its future sustainability, and engage with key partners to make the region one of the best areas to start or expand a small business.”