ECDC Enterprise Development Group

What their website says about applying

• The first step in the loan process is to check your credit history. For such purpose, you have to fill an application form and submit the form with a copy of your ID. source
• Tax return (most recent 2 years) source

Phone numbers and addresses are the ones on the lender's own site and the CDFI Fund list. CDFI Atlas does not take applications.

• Business plan required Business Plan and license source
• Collateral required Collateral should match the loan amount. source
• Collateral flexible or not always required EDG requires no collateral for Women owned businesses requesting loans up to $2,500. source
• Low or damaged credit considered others apply to fix their credit if they already have poor credit due to various circumstances. source
• No or thin credit history considered Some customers apply to start building their credit history if they are new comers to the US source

Only rules the lender's own pages state. Other requirements may apply.

Read from 7 pages of the lender's website on 2 Nov 2026. Quotes are verbatim. Extracted with AI help from the pages listed below and checked automatically against them. Not reviewed by a person. Confidence: high. Terms change — confirm with the lender before applying.

Based on what their website said when we read it on 2 Nov 2026, and what it left out. Something missing here does not mean they don't offer it: ask.

1. What is the APR, including fees, on your auto loans and credit-builder loans?
   Their website does not state an APR. The APR includes fees, so it is the number to compare.
2. What interest rate and fees should I expect on your microloans and small-business loans?
   Their website does not state a rate for this.
3. How long can I take to repay?
   No repayment terms are stated on their website.
4. Do you offer free coaching or help preparing my application?
   CDFI certification requires development services, such as training or advice, alongside lending.
5. What documents will you need from me, and how long does a decision usually take?
   Their website describes some application steps (above); ask for the full document list.

Write down the answers, who you spoke to and the date, and ask for the terms in writing before you sign.

End-of-year figures from the Form 990 this organisation filed with the IRS for the fiscal year ending September 2023 (tax year 2022; EIN 54-1993252, filed as “ECDC ENTERPRISE DEVELOPMENT GROUP”), taken from the IRS Annual Extract of Tax-Exempt Organization Financial Data (returns processed in 2024). Figures are self-reported to the IRS, not audited by us, and lag one to two years behind today. The lender’s own annual report may show newer numbers. This organisation’s filings on ProPublica Nonprofit Explorer

Filings over time

Total assets grew 57% from Sep 2021 to Sep 2023; notes and loans receivable rose 79%. One row per fiscal year in the IRS extracts of returns processed in 2022, 2023, 2024; “—” = the line was empty or zero on that return (a fund can book its loans on other lines).

For comparison, not an offer and not a rating. Past records show what this lender did, not what you would be offered. Peer groups and sources: methodology. Form 990 figures: IRS annual extracts (see the Form 990 section).

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All 22 CDFIs in Virginia