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Partner Description:

Latino Economic Development Center (LEDC) is a community-based nonprofit that equips Latinos and other DC-area residents with the skills and financial tools to create a better future for their families and communities. Participants in our programs learn how to buy and stay in their homes, join with their neighbors to keep their rental housing affordable, and start or expand small businesses.

LEDC activities are diverse, include providing technical assistance and a variety of business trainings on topics ranging from recordkeeping and paying taxes to building websites and marketing; providing business loans between $5,000 and $50,000 to qualified start-ups and existing small businesses; housing counseling for families to buy their first home and save their homes from foreclosure; and tenant organizing to help residents keep their rental housing affordable. By operating in the larger metro areas of Washington, D.C. -- including Maryland and Virginia -- LEDC works with approximately 6,000 people every year.

Kiva lenders’ funds are used to help LEDC support even more small businesses in low- and moderate-income communities in Washington, D.C. The funds are used to ease loan requirements, including decreasing collateral, interest rates and fees associated with loan disbursement. With Kiva capital, LEDC reaches out to borrowers that may not have met all of LEDC’s existing criteria, allowing the organization to grow its lending operations through its new subsidiary the Community Asset Fund for Entrepreneurs.

A unique approach to community-based economic development:

With its small business loans and technical assistance programs, LEDC helps small business owners and entrepreneurs in the D.C. area to strengthen their business skills and access capital to improve their lives and strengthen the small business community.

Additionally, LEDC provides classes, workshops and individual counseling for home ownership clients to help them purchase their first homes. This includes helping with credit repair and applying for the D.C. Home Purchase Assistance Program. The organization also runs an affordable housing program and a foreclosure intervention initiative, which help struggling renters and homeowners to negotiate the best long-term housing solutions for their families and communities.

LEDC helped this borrower and his family keep their home through a modification to his home loan:

Watch a short video about the organization’s work and impact.



Image courtesy of Latino Economic Development Center.

Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Jan 7, 2013 Oct 12, 2005
Total Loans $290,775 $722,016,825
Amount of raised Inactive loans $0 $305,975
Number of raised Inactive loans 0 236
Amount of Paying Back Loans $155,825 $134,376,175
Number of Paying Back Loans 18 154,618
Amount of Ended Loans $134,950 $587,334,675
Number of Ended Loans 20 728,195
Delinquency Rate 5.34% 8.54%
Amount in Arrears $2,902 $7,477,509
Outstanding Portfolio $54,360 $87,526,106
Number of Loans Delinquent 7 29,073
Default Rate 21.41% (See Note) 1.17%
Amount of Ended Loans Defaulted $28,887 $6,846,848
Amount of Ended Loans $134,950 $587,334,675
Number of Ended Loans Defaulted 7 19,789
Currency Exchange Loss Rate 0.00% 0.27%
Amount of Currency Exchange Loss $0 $1,945,073
Refund Rate 6.19% 0.68%
Amount of Refunded Loans $18,000 $4,905,575
Number of Refunded Loans 2 5,418

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 45.45% 74.41%
Average Loan Size $7,719 $416
Average Individual Loan Size $7,719 $653
Average Group Loan Size $0 $1,848
Average number of borrowers per group 0 8
Average GDP per capita (PPP) in local country $54,800 $5,937
Average Loan Size / GDP per capita (PPP) 14.09% 7.01%
Average Time to Fund a Loan 10.25 days 6.38 days
Average Dollars Raised Per Day Per Loan $752.81 $65.19
  Average Loan Term 29.53 months 10.77 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 2 354,708
  Journaling Rate 11.76% 41.28%
  Average Number of Comments Per Journal 0.00 0.06
  Average Number of Recommendations Per Journal 0.00 1.56

Borrowing Cost Comparison (based on 2012 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 12% PY N/A 31.80% PY
  Profitability (return on assets) 2% N/A -1.81%
  Average Loan Size (% of per capita income) 16.90% N/A 19.39%

Country Fast Facts

Field Partner Staff

Diana Avellaneda
Zara Cabrera
Leda Hernandez