Arlington, Va., September 7, 2023 – ECDC Enterprise Development Group (EDG) is pleased to announce the signing of an assistance agreement with the Community Development Financial Institutions Fund for an award amount of $3,305,118 under CDFI Equitable Recovery Program (CDFI ERP). The management and staff of EDG are very grateful for the continued support of CDFI for our microfinance program.

The CDFI ERP Award will provide financial products in ERP-eligible geographies to assist low- or moderate-income communities and borrowers, including minorities, who have significant unmet capital or financial service needs and were disproportionately impacted by the COVID-19 pandemic.

This project helps to strengthen the existing micro-enterprise development program and will benefit from EDG’s proven track record, experience, and best development practices in the DC Metro area. Our microloan and technical assistance services will help revamp the small businesses’ operations impacted by the COVID-19 pandemic.

The Emergency Relief Program will be implemented for 5 years up to 06/30/2029.

For inquiries, please contact Esayas Gebrehiwot,
Managing Director, EDG at egebrehiwot@edgus.org

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The ECDC Enterprise Development Group is a nonprofit 501(c)(3) licensed in 2001 to serve as a bridge to improve the lives of immigrants and low-to-moderate income individuals by providing access to small business loans and educational, skills-building programs.