The Enterprise Development Group (EDG) is an independent nonprofit subsidiary of ECDC developed to provide micro-economic development support services for low-to-moderate income clients throughout the greater DC Metro area including Northern Virginia , the District of Columbia (D.C.), and the Maryland Counties of Montgomery and Prince George . EDG was incorporated in October 2000 as separate entity. Our office is located in Arlington, Virginia with an additional satellite presence in Washington, DC.
EDG promotes opportunities for self-sufficiency through sustainable economic and community development initiatives such as a Micro Business Loan Program, a Used Car Loan Program and an Individual Development Account (IDA) Program. Our loan programs offer special support to entrepreneurs who do not yet qualify for commercial bank loans.
OUR MISSION
EDG promotes opportunities for self-sufficiency to low-to-moderate income people through sustainable economic and community development initiatives.
EDG accomplishes this mission through the provision of individual micro-loans, ranging from $500 to $35,000, business training, and pre-loan and post-loan technical assistance, which promotes the growth of micro-enterprises owned by low to moderate income entrepreneurs.
Since FY 2001, EDG has operated an Individual Development Account (IDA) program which is a ‘two to one’ matched grant savings account program that assists low income refugees and asylees to purchase an asset such as a car, computer, house, business, or secondary education, recertification or vocational training.
In late 2003, EDG started a Car Loan Program to enable low-to-moderate income people in the DC metro area with limited credit histories purchase vehicles without paying excessively high interest rates. Adequate transportation to attend school and maintain employment in areas not fully served by public transportation is an important component of economic self-sufficiency and independence.
EDG is an Intermediary Financial Lender of SBA and a member of CDFI. It is the only organization that operates in the entire metropolitan area of Washington , D.C.
OUR HISTORY
The ECDC Micro-enterprise Development Program began in 1992, with a grant from the U.S. DHHS Office of Refugee Resettlement (ORR) and was expanded in 1994 with a grant from the SBA to serve all low-to-moderate income entrepreneurs.
In October 2000, this program became the Enterprise Development Group (EDG) – a separately incorporated 501(c)(3) non-profit subsidiary of ECDC. ECDC is a non-profit community-based organization that has served the D.C. Metro area since 1983.
EDG provides micro-loans, technical assistance, and training throughout the entire Washington, DC metropolitan area.
It offers educational, skills building and social service programs to help refugees and immigrants from around the world build lives of self-sufficiency to become productive members of their new society.
WHAT WE DO
The Enterprise Development Group (EDG) is a private non-profit organization that provides microenterprise and asset building support services that include the following programs:
Small business loans ($500 to $35,000) for new and existing businesses
Individual Development Account (IDA) program (match grant program)
Car loans ($1,000 to $8,000)
Our ongoing technical assistance and training includes:
One-on-one assessments of your business
Business plan training and development
Community networking and events
One-one-one technical assistance to EDG entrepreneurs
