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ECDC Enterprise Development Group

Enterprise Development Group (EDG) promotes opportunities for self-sufficiency and sustainable businesses for low-to-moderate income individuals through economic and community development initiatives, by providing microloans, business trainings, and pre and post loan technical assistance.

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Contact Information
901 South Highland St, Arlington, VA 22204
(703) 685-0510 X225 Edgus.org
Community development financial institutions (CDFIs) are lenders with a mission to provide fair, responsible financing to underserved communities, including low-income neighborhoods and small businesses, that mainstream finance doesn’t traditionally reach.
Locations Served
Districtwide
Maryland
Virginia
Languages
Amharic
English
Other
Lender Interests
Secured,profitable and sustainable
Decision Making Process
No
Reasons for reject
Character, credit, financial capability
General Information

Esayas Gebrehiwot | Managing Director | (703) 685-0510 X225 | egebrehiwot@edgus.org

Products & Services

Products & Interest Rates

  • Secured term loans: 5% – 10.75%
  • Unsecured term loans: 5% – 12%
  • Secured lines of credit: 5% – 10.75%
  • Unsecured lines of credit: 5% – 12%

Loans Offered

  • Small business microloans:
    • under $5k
    • $5,001 – $50k
Eligibility & Requirements

General Requirements †

  • Personal Credit Score:
    Minimum 620
  • Business Credit Score:
    Minimum 650
  • Personal Guarantee:
    No
  • Collateral:
    Flexible and fixed equivalent personal and business assets
  • Number of Months Financial Statements:
    12 months
  • Years in Operation:
    N/A
  • Annual Revenue:
    N/A

Ineligible Loan Uses ‡

  • Character
  • Credit
  • Financial capability

† Note: These are generally required
‡ Items, industries, and/or purposes that are not eligible for financing