accessing small business loans to start or grow your business
DESCRIPTION
Accessing Small Business Loans to Start or Grow Your Business The Latino Economic Development Center (LEDC) Panel about alternative source of funding September 26, 2013O. LENDING PROGRAM. Certified Community Development Financial Institution ( CDFI ) and SBA small business lender - PowerPoint PPT PresentationTRANSCRIPT
Stable Housing. Thriving Businesses. Strong Communities.
Accessing Small Business Loans to Start or Grow Your Business
The Latino Economic Development Center (LEDC)
Panel about alternative source of funding September 26, 2013O
Stable Housing. Thriving Businesses. Strong Communities.
LENDING PROGRAM
Certified Community Development Financial Institution (CDFI) and SBA small business lenderProgram established in 1997Provide technical assistance and small business loans between $5,000 - $50,000One loan product: fixed, fully-amortizing term loansWork with both start-up and existing small business owners who are underserved by mainstream financial institutions Serve the entire Washington Metro area (DC, VA, MD) plus BaltimoreInterest rates: 9-14 percentTerm: 6 months to 5 yearsProcessing time: 2-4 weeksNo pre-payment penalty
Stable Housing. Thriving Businesses. Strong Communities.
OUR PORTFOLIOPortfolio at Risk is less than 3 percent 200 active clients Average loan size of $12,000FY13: Disbursed 120 small business loans
Disbursed $1.9 million in funding200+ jobs created or maintained30 new businesses created
95 percent low to moderate income (LMI)
Stable Housing. Thriving Businesses. Strong Communities.
FUNDING SOURCES
SBACDFIBanksFoundationsCountyStateFederal
Stable Housing. Thriving Businesses. Strong Communities.
OUR PROCESS
$50 application feePull Credit reportGather documentsPrepare credit memoPresent credit memoClose Loan
Stable Housing. Thriving Businesses. Strong Communities.
SWEET & NATURAL BAKERY
Stable Housing. Thriving Businesses. Strong Communities.
LALOS MARKET
Stable Housing. Thriving Businesses. Strong Communities.
COLUMBIA HAIR SALON
Stable Housing. Thriving Businesses. Strong Communities.
MANDU
Stable Housing. Thriving Businesses. Strong Communities.
Lending Clients per Income
Q3-FY12Low Income 73.7%Moderate Income 21.1%Others 5.3%TOTAL 100.0%LMI 94.7%
Portfolio at Risk
Q1FY12 Q2FY12 Q3FY12 Q4FY12 Q1FY13 Q2FY13 Q3FY13PAR>30 days 11.8% 5.9% 5.8% 5.1% 3.5% 3.1% 1.7%
Contact InformationCesar Lopez, Director of [email protected]
Carlos ArangoSmall Business Lending Officer, [email protected]
Christina StockamoreSmall Business Lending Officer, Washington [email protected]
Pamela CanasSmall Business Lending Officer, [email protected]