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
  • Certified by the U.S. Treasury and Small Business Administration
  • Up to $50K in business loans
  • Rates as low as 6.5%

Requirements

  • Bank statements*
  • Tax Returns*
  • Collateral
  • $50 loan application fee (cost includes a copy of your credit report)
  • LEDC Intake form

Rate & Terms

  • Loans from $1,000 to $50,000
  • Rates starting from 6.50%
  • Terms from 6 months to 5 years

Uses Include:

  • Vehicles & equipment
  • Working Capital
  • Inventory
  • Business expansion
  • Renovation works
  • Hiring additional personnel
  • Bridge for financing for governments grants
  • Business acquisition

Apply Here!


 

 

Loan Products

  LEDC Growth Loan LEDC Startup Loan LEDC SEED Loan
Amount up to $50K up to $20K up to $5K
Target Market Established Small Businesses with at least two years in operations, seeking capital to grow/expand operation. 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 60 up to 36 up to 20
Rate (fixed APR) as low as 6.5% as low as 8% as low as 9%
Collateral 50% 50% 50%
Closing Fee 3% 3% 1%
Minimum Financial Information Required
Last 2 yrs business/personal tax returns (personal only)
Bank Statements last 3 mo: personal + business last 3 mo: personal + business last 6 mo: personal
Personal Payment Slips
  LEDC CrediFirst LEDC ReSet Loan LEDC New Americans Loan
Amount $500-$1K $500-$1K $725
Target Market Individuals aiming to start their credit history or improve their current credit scores. Returning citizens aiming to rebuild financial assets and relaunch their credit profile. USCIS citizenship applicants. Funds to cover application fees (Form N-400) and biometric fee. The application must be completed by an LEDC partner organization.
Eligibility
Startup Companies (<1 year) - -
Established Companies (>1 year) - - -
Individuals
Terms
Maturity (months) 6 or 12 6 or 12 6 or 12
Rate (fixed APR) 9% 8% 6%
Collateral
Closing Fee
Minimum Financial Information Required
Last 2 yrs business/personal tax returns
Bank Statements last 2 mo: personal last 2 mo: personal last 2 mo: personal
Personal Payment Slips last 2 mo last 2 mo last 2 mo

Apply Here!