In a dynamic economy favoring businesses ready to adapt and grow, LEDC put capital, technology, and skills in the hands of small business owners across the Washington region.
Thanks to the DC Office of the Chief Technology Officer, LEDC connected more than 200 entrepreneurs with skills and tools to better compete in the digital economy. Small business owners learned how to use technology to tap online markets, gauge consumer preferences, and increase their efficiency. Complemented by initiatives to help entrepreneurs improve their credit and develop tailored skills in specific industries, the project made technology an essential part of the small business toolbox.
Our Community Asset Fund for Entrepreneurs continued its growth, investing $1.93 million in 129 small businesses across the region and growing its loan portfolio by 79 percent. The launch of Kiva City DC enabled more than 4,000 Kiva lenders to invest approximately $235,000 in 30 small businesses and strengthened the sustainability of our lending work in the first year of the partnership.
This work supported entrepreneurs like Anahita and Andres, owners of Montgomery County-based business Chew Chew Food Truck. Thanks to our partnership with the Samuel Adams Brewing the American Dream initiative, we connected Chew Chew with mentoring and a $10,000 loan to help customize their food truck and start their small business.
"I learned to create and manage my own website,” said Mitzi Villanueva. "Thanks to LEDC, we learned about the Small Business Success Project that helped us acquire four computers to integrate technology into our business.”
TOP: Anahita Mirrejali and Andres Gutierrez, outside their new food truck in Montgomery County.
RIGHT: Mitzi and Cleotilde Villanueva set up one of their new laptop computers for their daycare business in the District of Columbia.