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.