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Small Business Loans

LEDC is a certified Community Development Financial Institution (CDFI) providing alternative financing to help build and grow local businesses in Washington, DC and Baltimore Metropolitan areas.

  • No hidden fees
  • Business advice at no cost
  • A fast and simple application process
  • SBA & USDA intermediary lender
  • Up to $250K in business loans
  • Rates as low as 6.5%

Requirements

Rate & Terms

  • Loans from $1,000 to $250,000
  • Rates starting from 6.50%
  • Terms from 6 months to 10 years

Uses Include:

  • Vehicles & equipment
  • Working Capital
  • Inventory
  • Renovation works
  • Bridge for financing for governments grants & contracts
  • Business acquisition

Contact a loan officer - Contacta un oficial de prestamos


 

Loan Products

  LEDC Growth Loan LEDC Startup Loan LEDC SEED Loan
Amount up to $250K up to $20K up to $5K
Target Market Established Small Businesses with at least two years in operations, seeking capital to grow/expand operations. Startups with less than two years in operations, seeking capital to launch or consolidate their venture. Startups with less than one year in operations, or with plans to launch a company within 3 months of receiving funds.

Eligibility

Startup Companies (<1 year) -
Established Companies (>1 year) - -
Individuals - -

Terms

Maturity (months) up to 120 up to 60 up to 36
Rate (fixed APR) as low as 6.5% as low as 6.5% as low as 0%
Collateral -
Closing Fee 3% 3% 1%

Minimum Financial Information Required

Last 2 yrs business/personal tax returns (personal only)
Bank Statements last 6 mo: personal + business last 6 mo: personal + business last 6 mo: personal
Personal Payment Slips
  LEDC CrediFirst LEDC Resilience Loan
Amount $500-$1K Up to $2.5k
Target Market Employed individuals or business owners aiming to start their credit history. Employed individuals or business owners aiming to improve their credit score by reducing credit card debt or paying past due obligations.

Eligibility

Startup Companies (<1 year) - -
Established Companies (>1 year) - -
Individuals

Terms

Maturity (months) up to 12 up to 36
Rate (fixed APR) 0% 0%
Collateral
Closing Fee

Minimum Financial Information Required

Last 2 yrs business/personal tax returns
Bank Statements last 3 mo: personal last 3 mo: personal
Personal Payment Slips last 2 mo -

Contact a loan officer - Contacta un oficial de prestamos