Washington Post – Maryland Festival Goers Introduced to Salvadoran Food, Culture

Ping Eng and her daughter Sarah walked slowly through the crowd, each holding a tiny plate with a corn tortilla filled with cheese, beans and pork.

“I am excited about this,” Eng said as she took a bite of a pupusa. She later wondered aloud how cooks were able to get the meat filling inside the pupusa. “It must be difficult to make.”

For Eng, a Gaithersburg resident who was born in China, Sunday’s annual World of Montgomery Festival in Wheaton was a chance to try the Salvadoran signature dish for the first time. Her daughter was especially curious about trying the food from the country of origin for many of her high school classmates.

To find out who won Sunday’s Pupusa Cookoff at the World of Montgomery Festival, click here to read the full article.

 

NCLR and LEDC Launch the “Effective Money Management” Program

FOR IMMEDIATE RELEASE                        
August 22, 2012  

Contact: Julian Teixeira, Ash Kosiewicz
(202) 776-1812, (202) 425-1303
jteixeira@nclr.org, akosiewicz@ledcmetro.org

Program to enhance access to financial knowledge and vital banking services for Latinos

Washington, D.C.—In order to manage their finances successfully, families need not only access to banking services but the information and education to understand them.  Latinos are one of the most un- and underbanked communities in the nation, often experiencing barriers to a range of financial services—from something as basic as opening a checking account to understanding how to apply for a home mortgage.  To help bridge this gap, NCLR (National Council of La Raza) and the Latino Economic Development Center (LEDC) are joining together to launch the Effective Money Management program to provide one-on-one financial coaching and information about banking products to qualified low- and moderate-income individuals in the Washington, D.C. area.

“Latino families have been disproportionately affected by the economic downturn, which has depleted their savings and knocked them out of the banking system,” said Lot Diaz, Vice President of Housing and Community Development at NCLR.  “One of the first steps toward recovery is to become financially stable by reducing debt levels and building a cash reserve.  However, many in our community can’t do this because it requires not only financial tools but education and guidance.  We created the Effective Money Management program to help Hispanic families access the proper tools to promote financial decisions that not only build wealth but improve their lives overall.”

Participants in the Effective Money Management program will enroll in a five-week course and meet one-on-one with financial coaches provided through LEDC.  The course and coaching will focus on increasing knowledge and developing skills in budgeting, banking services, establishing and maintaining credit, savings, insurance, and protecting one’s assets.  Counselors will work with participants to assess their current financial situations, help tailor a financial action plan to both short- and long-term financial goals, and track progress over a 12-month period.

“We are very excited to partner with NCLR on the Effective Money Management program,” said Manny Hidalgo, LEDC Executive Director.  “Participants in our programs will greatly benefit from this initiative given that many lack access to basic banking services and the knowledge of how to build emergency savings.  We believe that the program is an important step in helping Washington, D.C.–area Latino families better manage their money, a critical step on the road to achieving financial independence.”

 

Washington Hispanic – Manny Hidalgo: Cubano Americano Entre Dos Tierras (Spanish)

In today’s edition of the Washington Hispanic, reporter Carolina Landsberger profiles the personal history of LEDC Executive Director Manny Hidalgo.

To read the full profile in Spanish, click here.

To learn more about Manny’s work since arriving at LEDC, watch this video by the Meyer Foundation.

 

News Coverage and Videos from Citi Community Development’s $500,000 Contribution to LEDC Announcement

Below is news coverage and videos related to yesterday’s announcement that Citi Community Development has made a $500,000 contribution to support DC small businesses through LEDC’s Microloan Program. The contribution is the largest private gift in LEDC’s 20-year history and the largest contribution that Citi has made to a community-based organization that does microlending in the DC region in the last 25 years.

Washington Business Journal – Latino group lands $500K Citi grant for loans
Univision (Spanish) – Citigroup dono 1/2 millon de dolares a pequeñas empresas
LEDC Manny Hidalgo’s Welcome Remarks (Vide0) – Watch Here
DC Deputy Mayor for Planning and Economic Development Victor Hoskins Remarks (Video) – Watch Here
Citi’s Global Director of Microfinance and Community Development Bob Annibale Remarks (Video) – Watch Here
Small Business Owner Fidel Garcia, Capital Pilates Remarks (Vide0) – Watch Here
Small Business Owners Fredy Robles and Erin White, Mindy’s Catering Remarks (Video) – Watch Here

 

Citi Community Development to Assist LEDC in Boosting Lending to Washington, DC Small Businesses

FOR IMMEDIATE RELEASE
February 21, 2012

Contact: David Roskin, Citi, 212-559-4767 or david.roskin@citi.com
Ash Kosiewicz, LEDC, 202-540-7411 or AKOSIEWICZ@ledcmetro.org

Contribution Will Help LEDC Increase Flow of Much-Needed Capital to Low- to Moderate-Income DC  Business Owners by 50 percent

Washington, DC – Today, Citi Community Development and the Latino Economic Development Corporation (LEDC) announced a substantial contribution to help small businesses in the district access microloans to support business expansion, income growth, and job creation. LEDC’s successful micro-lending program provides alternative financing to small businesses, the most important engines of economic growth in the District. Citi’s $500,000 commitment will enable LEDC to expand its micro-lending program and increase lending to small businesses by nearly 50 percent over the next year.

More than 58,000 small businesses operate within the District of Columbia. While nearly three-quarters of these businesses employ fewer than 20 workers, small businesses as a whole represent more than 90 percent of all employers and employ almost half of the private-sector workforce in the District—more than 217,000 workers. More importantly, these businesses have been responsible for creating 95 percent of all new private-sector jobs in the District since 2005. Small businesses require ready access to financing; in recent years, however, business owners have found it increasingly difficult to access the capital they need to hire workers, purchase inventory, and expand their enterprises. With the unemployment rate in Washington, DC at 10.4 percent (compared to 8.3 percent nationally) and 34,800 District residents seeking jobs but unable to find them, LEDC’s microlending program provides much-needed capital and other resources to small businesses, the most important drivers of growth in the region.

“We are greatly appreciative to private companies like Citi and nonprofit partners such as the LEDC for their work with local small businesses,” said District Deputy Mayor for Planning and Economic Development Victor L. Hoskins.  “This City cannot achieve its goals of increased opportunities for entrepreneurs and job-seekers with public-only initiatives and are pleased that our local small business owners now have enhanced opportunities to access capital because of Citi’s investment.”

 

Citi Community Development to Announce Major Contribution to LEDC to Boost Lending to Washington, DC Small Businesses

MEDIA ADVISORY
February 20, 2012

Media Contacts: David Roskin, Citi, 212-559-4767 or david.roskin@citi.com
Ash Kosiewicz, LEDC, 202-425-1303 or akosiewicz@ledcmetro.org

WHAT: Citi Community Development/LEDC Grant Announcement with DC Deputy Mayor for Planning and Economic Development Victor Hoskins
WHERE: Latino Economic Development Corporation (LEDC) 2316 18th ST Washington, DC 20009
WHEN: Tuesday, February 21st, 2012; 10-10:30 AM
WHO: Bob Annibale, Citi Global Director of Community Development and Microfinance; District Deputy Mayor for Planning and Economic Development Victor Hoskins; LEDC Executive Director Manny Hidalgo; Capital Pilates Small Business Owner Fidel Garcia; Mindy’s Catering Small Business Owners Fredy Robles and Erin White; Citi and LEDC representatives

WASHINGTON– Tomorrow, Citi Community Development and the Latino Economic Development Corporation (LEDC) will announce a $500,000 contribution to help small businesses in the District access microloans to support business expansion, income growth, and job creation. Citi’s major commitment will enable LEDC to expand its micro-lending program and increase lending to small businesses by nearly 50 percent over the next year. In 2011, LEDC disbursed 81 small business loans that injected nearly $700,000 of capital into the regional economy, including 30 loans in the District. With an average loan size of $10,000, Citi’s  contribution will enable LEDC to make approximately 40 loans in the District in 2012. LEDC will leverage these funds to seek additional support in pursuing its goal of tripling the amount it will loan to small businesses in the Washington region in five years to approximately $2.16 million, including $650,000 for DC small businesses. Citi’s support for LEDC – the largest private gift to LEDC in its 20-year history – is the latest and largest in a long record of local investment in the greater Washington, DC area.  In 2011 alone, Citi and the Citi Foundation together committed more than $700,000 to support programs and partners involved in neighborhood revitalization, small business development, financial capability-building, and other initiatives.

# # #

About Citi Community Development
Citi Community Development (CCD) is leading Citi’s commitment to achieve economic empowerment and growth for underserved individuals, families and communities by expanding access to financial products and services, and building sustainable business solutions and innovative partnerships. Our focus areas include: commercial and philanthropic funding; innovative financial products and services; and collaborations with institutions that expand access to financial products and services for low-income and underserved communities. For more information, please visit http://www.citicommunitydevelopment.com.

About LEDC
Working families deserve to live in affordable homes and own successful small businesses – but too many are unable to turn these dreams into a reality. The Latino Economic Development Corporation (LEDC) equips Latinos and other DC-area residents with the skills and financial tools to create a better future for their families and communities. Participants in our programs learn how to buy and stay in their homes, take control of the decisions affecting their apartment buildings, and start or expand small businesses. For more information, please visit http://www.ledcmetro.org.

 

LEDC Executive Director Manny Hidalgo Awarded 2011 Meyer Exponent Award

FOR IMMEDIATE RELEASE
November 17, 2011

Contact: Manny Hidalgo, Executive Director
Ash Kosiewicz, Communications and Advocacy Director
202-422-1707; (202) 425-1303
mhidalgo@ledcmetro.org; akosiewicz@ledcmetro.org

WASHINGTON – The Meyer Foundation, a leading funder of nonprofits serving the Washington, DC region, has just awarded one of three 2011 Exponent Awards – which recognize outstanding nonprofit executive directors – to LEDC Executive Director Manny Hidalgo.

“I’m extremely grateful to the Meyer Foundation for recognizing how hard we at LEDC have worked to fulfill our mission in the region,” Hidalgo said. “It’s been an honor to lead this organization during a time when our services have been needed most.  We wouldn’t have been able to rise to the occasion without our awesome staff and supportive board.  For me, personally, I couldn’t have done it without my loving family, especially my wife Ellisa.”

The Meyer Foundation created the Exponent Awards in 2006 to recognize and celebrate the accomplishments of some of the DC region’s most talented, visionary, and effective nonprofit executives—and to provide funds to sustain and further develop their leadership and their organizations. Recipients’ organizations receive a grant of $100,000 over two years to support leadership development.

 

Innovative Microloan Product to Ease Pathway to Citizenship for Immigrants

FOR IMMEDIATE RELEASE
November 1, 2011

Contact: Susana Flores, CASA de Maryland
(240) 706-2624; sflores@casamd.org
http://www.casademaryland.org
David Roskin, Citi Community Development
(212) 559-4767; david.roskin@citi.com
http://www.citicommunitydevelopment.org

CASA de Maryland and Citi Lead Pilot Initiative to Make Naturalization Costs More Manageable While Building Credit and Seeding Savings Accounts

Langley Park, MD (November 1, 2011) – Today, Citi Community Development and CASA de Maryland (CASA) launched an innovative microloan program for legal permanent residents (LPRs) seeking to become naturalized citizens.  CASA will collaborate with two community development financial institutions (CDFI’s) — the Latino Economic Development Corporation (LEDC) and the Ethiopian Community Development Council Enterprise Development Group (EDG) — to launch and test the innovative citizenship microloan program that will lower the financial barriers to naturalization while simultaneously building an individual’s credit and financial literacy.

The loan program is the latest addition to a set of naturalization services available through Citizenship Maryland, a wrap-around comprehensive effort led by CASA and participated in by partner AmeriCorps volunteer host organizations that seek to support the hundreds of thousands of eligible legal permanent residents in Maryland become citizens.

“Our state and our nation have a great deal to gain by embracing new Americans and supporting their efforts to contribute to our society and economy,” said Maryland Lt. Governor Anthony G. Brown, whose parents immigrated to America to start new lives and achieve their dreams. “Decreasing the financial burden for immigrants who wish to become naturalized citizens will help them improve their families’ lives and enrich their communities. It is exciting that this innovative program is being piloted right here in Maryland.”

 

Understanding Innovative Partnerships and Strategies in Microenterprise Development

Today in Richmond, the Virginia Microenterprise Network in collaboration with the Latino Economic Development Corporation (LEDC) are bringing together organizations from across the Washington region that are committed to quality business training and increasing business access to capital to discuss the latest innovations in microenterprise development.

The two-day conference, entitled “Strategies for Change: Innovation for Microenterprise and Community Economic Development,” will explore how organizations are forming new partnerships to increase efficiency, debuting products including consumer and green loans, exploring better ways to use data to improve outcomes, and creatively using the web including social media and online peer lending.

LEDC Executive Director Manny Hidalgo will moderate a panel on cutting edge partnerships, which will explore green jobs accelerators, the cross section of community health and economic development, and how Access to Capital for Entrepreneurs has increased its profitability and productivity through a unique partnership with ACCION Texas.

 

LEDC to Receive Small Business Advocate Award Today at 10th Annual Maryland Hispanic Business Conference

FOR IMMEDIATE RELEASE             
September 6, 2011                

Contact: Ash Kosiewicz, Communications and Advocacy Director
Manny Hidalgo, Executive Director
(202) 425-1303; (202) 422-1707
akosiewicz@ledcmetro.org; mhidalgo@ledcmetro.org

BETHESDA, Md – In recognition of the Latino Economic Development Corporation (LEDC)’s commitment to quality small business development and microloan services for small businesses in Maryland and the greater Washington region, the 2011 Maryland Hispanic Business Conference will award its Small Business Advocate Award today to LEDC.

The conference is the premier Hispanic Business event in the region – serving more than 20,000 Hispanic businesses in Maryland.  The event is a collaboration of the Hispanic Chambers of Commerce of Maryland, Baltimore and Montgomery County, in close cooperation with government agencies that support business and economic development.

“Small businesses are the backbone of our national and local economy, but everyday it gets more difficult for them to stay open with fewer banks willing to lend to them,” said LEDC Executive Director Manny Hidalgo. “At LEDC, we not only lend to them but provide valuable technical assistance and training to make sure they survive this extremely difficult time in the economy.”