LEDC is a certified Community Development Financial Institution (CDFI) providing alternative financing to help build and grow local businesses in Mayagüez, Puerto Rico and the 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
- Bank statements* (Guide to download bank statements)
- Tax Returns* (Guide to request your tax transcripts for free)
- LEDC application form
- Collateral and other requirements may apply
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 | - |