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Maryland Community Enterprises

They provide loans for small businesses and promote economic development in Eastern Maryland.
They provide the following loans:
They provide startup loans of $5,000 to $35,000 to companies that have been denied a loan by a bank.
They also offer expansion loans of $5,000 to $150,000 for companies that have been in business for 2 years.
Both loans carry an interest rate of 6% to 12% and a term of up to 10 years.

Read More: Maryland Community Enterprises

1863 Venture Fund

The goal of this organization is to provide support to minority entrepreneurs in the form of business education and mentoring in areas including marketing, sales, and financial management.

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The Latino Economic Development Center Credit Building Loan

They offer the following loans:
A credit building loan which is between $500 and $2,500 and has a 0% interest rate and 36 monthly payments. They also offer personalized financial education along with the loan.
They also offer SEED Loans of less than 5K for companies that have been in operation for less than a year or with plans to launch within 3 months of getting funded. This loan is offered at 0% interest for up to 36 months.
In addition, they also offer a startup loan of up to 20K with an interest rate of 6.5% and for 60 months for companies that have been in business for less than 2 years.
They also offer a loan of up to 250K for growing companies of up to 120 months and an interest rate of 6.5% ore more for companies that have been in business for at least 2 years and are looking to expand.

Read More: The Latino Economic Development Center Credit Building Loan

Washington Area Community Investment Fund

Their focus is working with minority and women minority entrepreneurs from low-income and moderate-income communities.
https://wacif.org/services/small-micro-business-loans/
They provide microloans of $5,000 to $50,000. The interest rates are up to 10%, and the maximum loan term is 72 months. the permitted uses for the funds include: equipment, inventory, and working capital.
They also offer a contract line of credit for $5,000 to $15,000. The term is up to 12 months, and the interest rate is up to 18%. Also it is used for accounts receivable.
They also provide equipment financing for $5,000 to $50,000. The term is up to 60 months, and the interest rate is up to 18%.
They also offer a working capital term loan for $50,000 to $150,000. The term is 72 months, and the interest rate is 10%.
And they offer a contract term loan for $50,000 to $150,000. The term is 72 months, and the interest rate is up to 18%.
The requirements for all loans include:
Being in business for 3 years
Providing a security interest in all the business assets, and also the personal guarantee of the key owners.
There is also a 3% commitment and servicing fee needed with each deal.
https://wacif.org/programs/
They also offer the following additional programs:
the Ascend Accelerator. This program is designed to support non-technology growing small businesses.
Their Entrepreneurs of Color Fund is designed to provide funding, networking and business advisory services to businesses launched by female minority entrepreneurs.
Through their program Enterprising women of color, they offer these loan products. And they also offer advisory and consulting services that are targeted to female entrepreneurs of color to help them run their businesses. They also partner with the Minority Business Development Agency in order to maximize their services and products for women business owners of color.
https://ewoc.wacif.org/services/advisory-services/
They also are offering a grant of up to $10,000 to black retailers in Wards 7 and 8 of Washington DC in cooperation with Walmart. https://ewoc.wacif.org/event/advancing-black-retail-grant-information-session/
In addition, they also offer workshops on digital media and related topics.

Read More: Washington Area Community Investment Fund

Launchpad

A business incubator which provides mentorship and general support to emerging companies. Is affiliated with William and Mary University.

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Catalyst

A business accelerator which provides training and support to emerging companies in Central Virginia
CATALYST (434.co)
They provide 9 months of support and $20,000 in grant funding plus technical assistance to tech companies in industries such as software, hardware, biotechnology, and biomedical field.

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Black Farmer Equity Fund

A microlender which seeks to provide support to black, female, veteran, new, and underresourced farmers in Virginia
Mission — Foodshed Capital (foodcap.org)
They provide loans to black farmers
They also provided a $12,000 grant to the Minority and Veteran Farmers of the Piedmont in Virginia to support their efforts to reach mobile markets
Black Farmer Fund — Foodshed Capital (foodcap.org)

Read More: Black Farmer Equity Fund
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