LEDC — Small Business Loans for Latino and Underserved DMV Entrepreneurs
Latino Economic Development Center (LEDC)
$500–$250,000
DC-area CDFI for Latino entrepreneurs — seed to growth, rates from 6.5%
The Latino Economic Development Center (LEDC) is a nonprofit CDFI serving small businesses in Washington, D.C., Maryland, Virginia (the DMV metro), and Puerto Rico since 1991. LEDC offers a tiered lending suite: SEED Loans up to $5,000 for pre-launch founders, Startup Loans up to $20,000 for businesses under 2 years old, and Growth Loans up to $250,000 for established businesses. Rates start at 6.5% fixed with no hidden fees, and every loan includes free business advice. The program specifically serves Latino-owned businesses and other underserved communities that face barriers to conventional financing.
- Funding type
- Loan
- Level
- Private
- Amount range
- $500 – $250,000
- Realistic amount
- Most borrowers receive $5,000–$50,000 depending on business stage. SEED Loans average $3,000–$5,000. Startup Loans avera…
- Deadline
- Rolling — applications accepted year-round via online form (Airtable).
- Status
- active
- States
- DC, MD, VA
- Payment model
- loan
Who qualifies
- Business must be located in Washington, D.C., Maryland, Virginia, or Puerto Rico
- For-profit businesses; all stages eligible (pre-launch / SEED to established / Growth)
- SEED Loan: entrepreneur must have a business plan and be launching within 3 months of loan, or be under 1 year in operation
- Startup Loan: business under 2 years in operation
- Growth Loan: business with 2+ years of operating history and 2 years of tax returns
- Priority given to Latino-owned and other underserved community businesses — but program is not exclusively restricted to Latino-owned businesses
- No minimum credit score specified — LEDC uses flexible CDFI underwriting
Hard requirements
- Location restriction: Washington DC, Maryland, Virginia, or Puerto Rico
What it covers
Eligible expenses
- Startup costs and business launch expenses
- Working capital
- Equipment
- Inventory
- Marketing
- Leasehold improvements
- Hiring
Ineligible expenses
- Personal expenses unrelated to the business
- Businesses outside DC, Maryland, Virginia, or Puerto Rico
How to apply
-
1
Submit online application via Airtable
Visit ledcmetro.org/lending and submit the loan application via the Airtable form. Select the product that matches your stage (SEED, Startup, or Growth). Provide basic business information, requested amount, and loan purpose.
~0.75 hrs
-
2
Gather and submit required financial documents
SEED Loan: 6 months of personal bank statements. Startup Loan: personal tax returns + 6 months of bank statements (personal and business). Growth Loan: 2 years of business tax returns + 6 months of bank statements (personal and business). All products have a 3% closing fee (1% for SEED) due at signing.
~2 hrs
-
3
Loan officer review and decision
LEDC's team reviews your application with a focus on business viability, repayment capacity, and community impact. LEDC emphasizes fast turnaround and business advising throughout the process. Decision timeline not published — contact LEDC directly for current processing time.
~0.5 hrs
-
4
Receive funds and free business support
Approved borrowers sign loan documents and receive funds. LEDC provides free business advice, financial projections support, and marketing guidance to all borrowers as part of its mission.
~1 hrs
The SEED Loan (up to $5,000) is one of the few CDFI products in the country that lends to pre-launch businesses — you can apply within 3 months of your intended launch date, before you've generated a single dollar of revenue. This is rare among CDFIs and makes LEDC uniquely accessible to immigrant entrepreneurs building their first US business.
Deadline & timing
LEDC accepts applications on a rolling basis with no intake windows. Applications are submitted via Airtable online form at ledcmetro.org/lending. The organization emphasizes a 'fast and simple' application process.
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Last reviewed 2026. GrantCompass is an independent funding-discovery tool and is not affiliated with any government agency. Always confirm details on the official program page.