Immigrants, Newcomers, Refuges
Poor, Economically Disadvantaged, Indigent
MED provides access to capital through micro and small business financing for individuals that may not otherwise be able to secure growth capital. CEDS provides debt financing (or Murabahas for our Islamic clients) of up to $50,000 and all loans are coupled with technical assistance to ensure clients own and operate successful enterprises. While any low to moderate income American may qualify for CEDS financing, we traditionally have focused on refugee and immigrant small businesses. CEDS is a character-based lender helping new and existing business owners achieve the American Dream of economic self-sufficiency.
Purpose - For the purchase, start-up or expansion of small, independently owned businesses.
Funding Size - $500 to $50,000
Term - Up to 5 years
Interest Rates - 7.5% - 10%
Due Date - Monthly on the 15th
CEDS has placed $1.8 million of investment capital into the local economy across 115 loans, of which 99% have been to refugee entrepreneurs. CEDS has created or retained 216 jobs, which ensure that refugees are financially self-sufficient and integrated into the American economy. These loans have a current default rate of less than 1%.