For many small business owners, the biggest challenges come down to planning and funding.
That’s why the City of Frederick’s Department of Economic Development (DED) is spotlighting one of our community partners this month: the Latino Economic Development Center (LEDC). Together, we’re working to ensure local entrepreneurs have access to the resources, guidance, and capital they need to thrive. The organization shared insight about its mission and services below:
The Latino Economic Development Center (LEDC) began its journey in Washington, DC, in 1991 with a clear and powerful mission: to drive economic growth by equipping Latinos and other community members with the skills and resources needed to achieve financial prosperity. More than three decades later, LEDC has grown its reach and deepened its impact, while remaining true to its roots. Our nearly all-bilingual staff welcome and serve anyone who walks through our doors, helping individuals build financial stability, purchase homes, and grow thriving businesses that strengthen our communities.
Our core programs: personal financial counseling, housing counseling, and small business support, are the foundation of this work.
LEDC Food Venture Incubator Graduation 2024
LEDC launched its loan programs in 1997 and became a certified Community Development Financial Institution (CDFI) by the U.S. Department of the Treasury in 2003. As a mission-driven nonprofit lender, we expand access to capital for small businesses, provide resources and guidance for aspiring homeowners, and offer programs that help individuals build and improve their credit.
Our small business loan programs serve entrepreneurs at every stage, from startups to established enterprises, with fixed-rate term loans ranging from $500 to $250,000 and repayment terms of 6 months to 10 years. To date, LEDC has delivered more than 2,800 loans, channeling over $50 million directly into the hands of entrepreneurs who are fueling local economies and creating jobs.
These investments have translated into success stories of every size. LEDC provided an early expansion loan to Sweetgreen, which has since grown into a nationally recognized brand, while also empowering countless local startups to take their very first steps. And beyond financing, LEDC offers business training and coaching, giving entrepreneurs the tools, guidance, and sense of community they need along what can often be a challenging and lonely journey.
Most recently, LEDC partnered with Frederick County’s EmPOWER Program to create a special loan program tailored for local participants. Through this initiative, we have supported businesses like Serenity Swimming, founded by Jenny Hoover, who opened doors to a new swimming facility that fills an important community need. We’ve also helped Chiefstack LLC, a Frederick-based professional services firm offering C-suite-level support to growing companies, along with many other local entrepreneurs bringing their visions to life.
For more information about our programs and impact, please visit the LEDC website.
Information provided by: Latino Economic Development Council (2025)
To learn about more community partners that can help support business growth, check out the City of Frederick’s Economic Development Partner Directory.