The Latino Economic Development Center (LEDC) is the newest CDFI partner of CornerSquare Community Capital to ensure more loans are disbursed for small business owners in underserved communities of Washington, D.C., Virginia, Maryland, and Puerto Rico.
WASHINGTON, D.C. – LEDC joins CornerSquare Community Capital to further invest in communities in the Washington Metropolitan Area and Puerto Rico with the intention of financing even more Latino and minority-owned small businesses and entrepreneurs.
In fiscal years 2020 and 2021, LEDC disbursed over 600 loans to numerous Latino and minority-owned small businesses in its multiple locations; with CornerSquare Community Capital's help, LEDC will be able to expand its lending capacity further.
LEDC's primary mission has always been to boost economic equality of often-overlooked populations. As a well-known CDFI in the regions it serves, LEDC disburses microloans for up to $250,0000 for qualified new and existing small business owners deprived of getting this lending from prominent financial institutions.
Emi Reyes, LEDC's CEO, looks forward to increasing this capacity with CornerSquare Community Capital's support: "Particularly at this moment, small businesses face exceptional challenges like inflation and supply chain disruptions. We genuinely believe that now more than ever is the right time to lend a hand, and we are thankful that CornerSquare Community Capital partnered with us to provide more assistance."
About Latino Economic Development Center (LEDC)
The Latino Economic Development Center (LEDC) equips Latinos and other underserved communities in the Washington, D.C. Metropolitan area, Baltimore Metro area, and Puerto Rico with the skills and financial tools to create a better future for their families and communities. Participants in our programs learn how to buy and stay in their homes, join with their neighbors to keep their rental housing affordable, and start or expand small businesses.
About the NC Rural Center
For 30 years, the NC Rural Center has worked to develop, promote, and implement sound economic strategies to improve the quality of life of rural North Carolinians. The Rural Center serves the state's 78 rural counties, with a special focus on individuals with low-to-moderate incomes and communities with limited resources. To learn more about how the NC Rural Center is developing and supporting rural leaders across the state, visit https://www.ncruralcenter.org/.
About CornerSquare Community Capital
CornerSquare Community Capital, made possible by the support of the Truist Foundation and the Truist Charitable Fund, is a partner and resource for the CDFI and MDI sector that is designed to significantly increase investment in communities through small-businesses and entrepreneurs that have seen decades of underinvestment. Learn more at https://www.cornersquare.org/.