LEDC presented at the Washington, DC Economic Partnership's (WDCEP) & Small Business Administration's (SBA) Alternative Sources of Funding event held on September 26, 2013.
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Alternative Sources of Funding | LEDC
1. Stable Housing. Thriving Businesses. Strong Communities.
Accessing Small Business Loans
to Start or Grow Your Business
The Latino Economic Development Center (LEDC)
Panel about alternative source of funding
September 26, 2013O
2. Stable Housing. Thriving Businesses. Strong Communities.
LENDING PROGRAM
Certified Community Development Financial Institution
(CDFI) and SBA small business lender
Program established in 1997
Provide technical assistance and small business loans
between $5,000 - $50,000
One loan product: fixed, fully-amortizing term loans
Work with both start-up and existing small business owners
who are underserved by mainstream financial institutions
Serve the entire Washington Metro area (DC, VA, MD) plus
Baltimore
Interest rates: 9-14 percent
Term: 6 months to 5 years
Processing time: 2-4 weeks
No pre-payment penalty
3. Stable Housing. Thriving Businesses. Strong Communities.
OUR PORTFOLIO
Portfolio at Risk is less than 3 percent
200 active clients
Average loan size of $12,000
FY13: Disbursed 120 small business loans
Disbursed $1.9 million in funding
200+ jobs created or maintained
30 new businesses created
95 percent low to moderate income (LMI)
10. Stable Housing. Thriving Businesses. Strong Communities.
Lending Clients per Income
Q3-FY12
Low Income 73.7%
Moderate Income 21.1%
Others 5.3%
TOTAL 100.0%
LMI 94.7%
12. Contact Information
Cesar Lopez, Director of Lending
clopez@ledcmetro.org
Carlos Arango
Small Business Lending Officer, Maryland
carango@ledcmetro.org
Christina Stockamore
Small Business Lending Officer, Washington D.C.
cstockamore@ledcmetro.org
Pamela Canas
Small Business Lending Officer, Virginia.
pcanas@ledcmetro.org
Hinweis der Redaktion
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Fun Fact : Two-thirds of new American jobs are created by businesses that are less than five years old.
Start ups: Clients must have at least 2 years of industry experience. LEDC can not finance more than 80% of total investment Clients have to contribute at least 15% of the total investment as equity
Story of expansion MD Bakery Whole Foods – opportunity Wholesale Retail WF order (freezer)
Story: Purchase market from Step Father Increase in Sales Plans to expand to have a deli / hot bar
Technical Assistance Renovation of existing business
Established business, since X 2 locations Pilot new project – Union Market