stable housing. thriving businesses. strong communities. rossana espinoza small business development...
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Stable Housing. Thriving Businesses. Strong Communities.
Rossana EspinozaSmall Business Development Officer, LEDC
People & Places2015 Community Conference
March 4th, 2015
Learning from the Field: Supporting Small Businesses in
Immigrant Communities
Stable Housing. Thriving Businesses. Strong Communities.
Stable Housing. Thriving Businesses. Strong communities.
LEDC seeks to drive the economic and social advancement of underserved communities by equipping them with the skills and tools to achieve financial independence.
Programming falls under two technical areas:1.Housing (homeownership, foreclosure prevention, and affordable housing preservation) 2.Small Business Services (TA, training, and micro lending to entrepreneurs)
Photo Cred: Prince of Petworth
Taqueria Habanero
Stable Housing. Thriving Businesses. Strong Communities.
Highlights FY14
INVESTMENT
$1.5Minvested in 103 small
businesses to start and
expand in DC, MD and NoVA
AFFORDABLE HOUSING
3000families in 84
apartment buildings assisted with
affordable housing preservation
services
HOMEOWNERSHIP
39new homeowners, and assisted 58
families save their homes from foreclosure
BUSINESS CREATION
48new businesses
sparked
Stable Housing. Thriving Businesses. Strong Communities.
LEDC Staff and Clients
STAFF• ~25 bilingual
employees in three geographical sites
• 5 Admin, 20 Program
CLIENTS (SBTA)• 61% Spanish is primary
language• 70% Latino, 20% Other
Minority• 67% Low income, 25%
Moderate income• 60% First-
generation Immigrants
• 25% Second-generation Immigrants
Stable Housing. Thriving Businesses. Strong Communities.
Unique Motivators• Starting a business is not a choice,
it’s a necessity – Entry barriers to employment, higher-ed – Limited skills, low education levels– Main providers for their families (in the
U.S. and abroad)
• Skills in industries areas are global– Construction, cleaning, food & beverage,
daycare
• Entrepreneurial Spirit– Experiences from home countries yield
to entrepreneurship
Photo Cred: Lauren Rock/NPR
Mexican Cowboy Tamales
Stable Housing. Thriving Businesses. Strong Communities.
Responsive Product Design, Innovative Products
• All products & services offered in Spanish, 90% of training offered only in Spanish
• Citizenship loan• Financial literacy programming• Technology integration for small
businesses• Microloans• Wrap-around services • Partnerships & Advocacy
Stable Housing. Thriving Businesses. Strong Communities.
Effective Outreach Methods
Credibility and trust are paramount, we use the following methods:
•Flyer through trusted partner organizations•Local radio & television•Email blasts-direct & through partners•Social media (Facebook very popular)•Staff as a visible presence in the community
•Word of Mouth #1
Stable Housing. Thriving Businesses. Strong Communities.
Contact Info:
Rossana EspinozaSmall Business Development Officer
Latino Economic Development Center
Email: [email protected] Phone: 202-540-7416
641 S Street NW Washington DC 20008