Contact Latino Economic Development Corp.
- Address
- 1401 Columbia Rd., NW, Unit C-1 Washington, DC 20009
- Phone
- 202-588-5102
- lending@ledcmetro.org
Where they lend
Latino Economic Development Corp. is an SBA-approved microloan intermediary serving District of Columbia, Maryland and Virginia.
What an SBA microloan is
The SBA does not lend directly. It funds intermediaries like Latino Economic Development Corp., who lend up to $50,000 to small businesses and start-ups that banks usually turn down. The average loan is around $13,000, terms run up to seven years, and decisions rest with the intermediary rather than the SBA.
Almost every intermediary asks for the same things: a written business plan, financial projections, what the money is for, and your credit history. The plan is where most applications stall.
Before you apply
Latino Economic Development Corp. will ask for a business plan with your application. We write SBA-ready plans built for microloan applications, with the financial projections lenders expect.
