Latino Economic Development Center
Latino Economic Development Center
Latino Economic Development Center
Programs
LEDC Lending Program
LEDC's Lending Program, the only Latino-focused CDFI (Community Development Fund Institution) in Minnesota and the upper Midwest, addresses the significant barriers faced by small businesses in accessing affordable capital. LEDC provides flexible underwriting standards that don't require large personal assets for collateral, and expert navigation through the complexities of capital and small business development. In 2024, LEDC's Lending program worked with clients to approve 31 loans, disbursing $2.7 million in capital and leveraging $2.4 million in capital to help our clients grow their businesses. LEDC has more than 150 active lending clients in our organization's loan portfolio totaling nearly $8 million in capital deployed to support small business growth in Minnesota.GeographiesNot indicatedDatesJan 1, 2024 – Dec 31, 2024Source990No causes providedNo populations provided–$609.4KLEDC Business Development Program
LEDC's Business Development Program helps entrepreneurs prepare to launch or grow their business, including communications and marketing, budgeting, digital literacy, commercial insurance, taxation, and other areas of technical assistance. Our Business Development associates guide each member in creating their business plan and provide access to resources and education needed to meet their goals. Through direct support and referrals to specialized service providers, we support clients with their needs in finance, legal issues, technology, information technology (IT), human resources (HR) issues, and industry-specific regulations. Last year, LEDC's Business Development program supported more than 700 aspiring entrepreneurs and small business owners through business development workshops and one-on-one business consulting provided in Spanish and English.GeographiesNot indicatedDatesJan 1, 2024 – Dec 31, 2024Source990No causes providedNo populations provided–$1.6MLEDC's Agriculture Program
LEDC's Agriculture Program, an extension of our Business Development program with a technical focus on the agricultural sector, provides technical assistance, business development, and access to affordable capital and markets that help beginning and established farmers and entrepreneurs start new farming or food production enterprises or grow their existing farm businesses. Additional services include Organic and GAP certification and navigating the complex system of government agriculture programs. Throughout 2024, LEDC's Agriculture program provided technical assistance to 96 farmers and agriculture-focused businesses and supported businesses with closing three loans deploying a total of $580,000 of capital.GeographiesNot indicatedDatesJan 1, 2024 – Dec 31, 2024Source990No causes providedNo populations provided–$393K
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