EDG has two (2) established community development programs that provide access to capital and financial support for low-to-moderate income individuals in the DC Metro Area. EDG’s two lending programs provide support for individuals to start or expand their own businesses or to purchase personal vehicles.
The Micro-Enterprise Program - is directed towards providing clients with direct loans up to $50,000 for those ready to establish, sustain, or expand a business. The program is funded by the Small Business Administration (SBA), the U.S. Department of Health and Human Services, the U.S. Department of Treasury Community Development Financial Institution (CDFI), local a national banks.
The Used Car Finance Program – is directed towards providing clients direct loans up to $8,000 for individuals with limited to no credit or slightly blemished credit histories who wish to purchase a vehicle.
Small Business Loan Program
Micro business development is the bedrock of Washington DC Metropolitan area economic vitality, and fostering entrepreneurship is a critical part of building healthy communities.
ECDCEDG ’s Small Business Loan Program supports low-income entrepreneurs who cannot qualify for a bank loan, but need capital and consulting to start or grow a business in Washington DC Metropolitan area. By helping small business owners build an enterprise, ECDCEDG enables these individuals to assemble assets to support their family and to contribute to their communities.
