Latino Economic Development Corporation
Opportunity Finance Network Member Profile Latino Economic Development Corporation Latino Economic Development Corporation www.ledcmetro.org Financial and Social Impact Small business loans made: 64, totaling $656,000 n Entrepreneurs trained in seminars and courses: 648 n Tenants educated through affordable housing preservation program: 3,976 n The mission of the Latino Economic Development Corporation (LEDC) to improve the wealthbuilding capacity of low-to moderate-income Latinos and other underserved communities in the Washington Metropolitan Area. LEDC is a community-based economic development organization dedicated to working with Latinos in the decision-making processes that impact their communities. The organization was formed in 1991 in response to civil disturbances in the Mount Pleasant neighborhood of Washington, DC, and remains driven by its vision of creating a community with equitable access to the economic opportunities the metropolitan area offers. LEDC’s bilingual staff offers products and services in small business development, homeownership counseling, individual counseling, and affordable housing preservation. New homeowners supported through homeownership program: 41 n Clients supported through foreclosure counseling services: 240 n A microloan from LEDC enabled Benjamin Velasquez—who emigrated from El Salvador in 1982 and started his own catering business after working as a dishwasher, line cook, chef, and kitchen supervisor—to expand his business into greater DC’s Latino community. The loan helped him buy a new cargo van that allows him to transport food from his kitchen to events around town. “Now I can not only work in an enclosed facility, but I have the capacity to mobilize a whole kitchen from Place A to Place B,” Benjamin said. Contact 2316 18th Street NW Washington, DC 20009 P: 1.866.977.5332 F: 202.588.5204 E: [email protected] We Believe In Opportunity. For All. Success Story: Catering by Benjamin, Washington, DC OFN.ORG
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