SBA Micro Loan – ECDC Enterprise Development Group

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Quick Reference

Areas Served: Arlington, Fairfax county, Prince William, Fairfax, and

The ECDC Enterprise Development Group Microloan Program provides Virginia businesses in Arlington, Fairfax county, Prince William, Fairfax, and Falls Church cities with small, short-term loans to small business concerns and certain types of not-for-profit child-care centers.

The SBA makes funds available to specially designated intermediary lenders, which are nonprofit community-based organizations with experience in lending as well as management and technical assistance.

These intermediaries make loans to eligible borrowers.

The maximum loan amount is $50,000, but the average microloan is about $13,000. Microloans may be used for the following purposes:

•Working capital

•The purchase of inventory or supplies

•The purchase of furniture or fixtures

•The purchase of machinery or equipment.

Proceeds from a microloan cannot be used to pay existing debts or to purchase real estate.

Contact Information
ECDC Enterprise Development Group
Address: 901 South Highland Stree
City: Arlington
State: Virginia

Website: http://www.entdevgroup.org/loans-business.html

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