LATINO ECONOMIC DEVELOPMENT CENTER
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Mission Statement
Formally established as a 501c3 in 2003, Latino Economic Development Center’s (LEDC’s) mission is to transform our community by creating economic opportunities for Latinos. We envision a region and state with a thriving multicultural community, enriched with Latino leadership, culture, and economic influence. LEDC offers a continuum of services for Latinos seeking economic opportunity primarily through small business ownership: from one-on-one technical assistance for those ready to develop a business plan to lending for those needing capital to launch or grow their business. LEDC is a statewide organization, with just over 80% of our clients headquartered in the Twin Cities metro area, and the remaining almost 20% located in Greater Minnesota. In 2025, LEDC’s programs served nearly 1,000 entrepreneurs and small business owners.
About This Cause
LEDC’s Lending Program, the only Latino-focused CDFI (Community Development Fund Institution) in Minnesota and the upper Midwest, addresses the significant barriers faced by small businesses in accessing affordable capital. LEDC provides flexible underwriting standards that don’t require large personal assets for collateral, and expert navigation through the complexities of capital and small business development. In 2024, LEDC’s Lending program worked with clients to approve 31 loans, disbursing $2.7 million in capital and leveraging $2.4 million in capital to help our clients grow their businesses. LEDC has more than 150 active lending clients in our organization’s loan portfolio totaling $8 million in capital deployed to support small business growth in Minnesota. LEDC’s Business Development Program helps entrepreneurs prepare to launch or grow their business, including communications and marketing, budgeting, digital literacy, commercial insurance, taxation, and other areas of technical assistance. Our Business Development associates guide each member in creating their business plan and provide access to resources and education needed to meet their goals. Through direct support and referrals to specialized service providers, we support clients with their needs in finance, legal issues, technology, information technology (IT), human resources (HR) issues, and industry-specific regulations. Last year, LEDC’s Business Development program supported more than 700 aspiring entrepreneurs and small business owners through business development workshops and one-on-one business consulting provided in Spanish and English. LEDC's Agriculture Program, an extension of our Business Development program with a technical focus on the agricultural sector, provides technical assistance, business development, and access to affordable capital and markets that help beginning and established farmers and entrepreneurs start new farming or food production enterprises or grow their existing farm businesses. Additional services include Organic and GAP certification and navigating the complex system of government agriculture programs. Throughout 2024, LEDC’s Agriculture program provided technical assistance to 96 farmers and agriculture-focused businesses and supported businesses with closing three loans deploying a total of $580,000 of capital.