Micro Loans

EDG serves low to moderate income individuals who aspire to be entrepreneurs or are already in business, from all walk of life: including women, people of color, and others with little or no access to finance from the mainstream banking. EDG provides small business loans ranging from $500 to $50,000 to startup small business or expand existing businesses including: trucking, taxi, restaurants, barbershops, hair salons, spa, food suppliers, etc.

Qualifications | Requirements

  • ID and Green card/Passport

  • Business Plan and license

  • Up to 30% Equity Contribution

  • Good Credit score

  • Collateral

OUR LOAN PROCESS

TWO STAGES TO YOUR LOAN

1. The first step in the loan process is to check your credit history. For such purpose, you have to fill an application form and submit the form with a copy of your ID.

2. Then you will submit documents required to process the loan including:

  • Legality: Two IDs

  • Financial Documents: Bank statement (3 months)

  • Tax return (most recent 2 years)

  • Paystub

  • Business Documents: License, Business formation & ownership, Business plan, Projected cash flow statement, Business valuation (value of the asset to be purchased)

  • Collateral Valuation: Vehicle value (KBB), Property value (Zillow), Truck value

Note that the following are critical factors affecting the loan decision:

Business area in DC, MD, or VA

Good credit history

Collateral should match the loan amount.

Discover The Future

Providing affordable financial lending programs to the low-to moderate income consumers to start or expand a business.