Small Business Loans and Business Development Skills Training
Business Capital to Help You Succeed
EDG helps nascent business owners get on their feet and moving forward with critical microfinance loans.
For entrepreneurs seeking to start, sustain or expand a business, we provide microfinance loans at amounts up to $50,000 using lending criteria that most traditional banks are either unable or unwilling to consider.
Presently, we serve entrepreneurs from a wide range of trades, including: Restaurants, transportation, service companies, various small businesses and many more.
How to Qualify
To qualify, you must be a legal resident of the U.S., a citizen, permanent resident, refugee or have been granted asylum in this country. We focus on individuals who are unable to access capital from traditional sources, such as low-to-moderate income applicants. EDG’s goals are to create or expand new businesses and create jobs, especially for people who are low-or-moderate income. In addition, you must be operating or planning to launch a small business.
Loans may range in size from $500 to $50,000, and repayment may last up to five years. Interest rates vary from year to year. Note: There is a non-refundable charge of $100 to cover administrative costs.
Business Development Skills Training
We provide other critical assistance and services beyond small business loans. For example, we also help clients develop effective strategies and provide training on topics such as business plan development, risk management, marketing and budgeting.
Our Loan Process
The first step in the loan process is to check your credit history. For such purpose, you have to fill an application form and submit the form with copy of your ID.
Then you will submit documents required to process the loan including:
- Legality: 2 IDs
- Financial Documents: Bank statement (3 month), Tax return (2 years), pay stub
- Business Documents: License, Business formation & ownership, Business plan, Projected cash flow statement, Business valuation (value of asset to be purchased)
- Collateral Valuation: Vehicle value (KBB), Property value (Zillow), Truck value
Note that the following are critical factors affecting the loan decision:
- Business area in DC, MD or VA
- Good credit history
- Collateral should match the loan amount.
Contact us today for more information, or to set up an appointment.