LEDC is certified as a Community Development Financial Institution (CDFI) by the U.S. Treasury and is a Latino-based CDFI in Minnesota providing loans to Latino-owned businesses across the state of Minnesota.
History of the program:
In 2013, LEDC launched its own lending program providing access to capital to entrepreneurs who are unable to access financial products through traditional lending institutions. Today, LEDC’s lending program continues to be a means to advance economic justice and social integration for Latinos in Minnesota.
Learn more about the loan assistance from LEDC (SPANISH).
Interest rates for loans range from 3% to 12% or the maximum permitted by law depending upon the requirements of dedicated funding sources as well as market conditions and risk. Loan terms are generally three to five years, fully amortized. (Longer terms and/or amortizations are available for a limited number of transactions, primarily for real estate financing.)
Clicking on the Pre-Application button below will take you to a short questionnaire that will screen for basic eligibility and, if eligible, a loan officer will request the submission of a full loan application to underwrite your loan.
Note: Please note that submitting this pre-application will allow us to determine if you are ready or not to apply for a loan. This pre-application is not an indication of eligibility and does not mean that a loan will be approved or funded. Further documents are required to complete the formal Loan Application. The time it takes to process a loan application will depend on the volume of applications received by LEDC.
For questions and to schedule an appointment, contact us at:
