CEDS Finance Accomplishments

Microenterprise Development (MED)

  • As of October 1, 2015, CEDS had a total loan fund of $882,546, which will likely increase to just over $1 million during FFY 2016.
  • For FFY 2011-2015, CEDS disbursed $992,500 through 79 loans (67 to create new businesses and 12 to expand established businesses), which have resulted in the creation of an estimated 136 jobs. For this period, CEDS had zero defaults on loan payments and a 90% business survival rate.
  • As of October 1, 2015, 45.6% of all microenterprise borrowers were first Individual Development Account savers at CEDS.
  • CEDS is the choice for funding by refugees for transportation businesses, with 48% of all CEDS loans from FFY 2011-2015 going for taxi, limousine, Uber, trucking and non-emergency medical transportation businesses.

Individual Development Account (IDA)

  • For FFY 2011-2015, CEDS served 239 individuals who achieved their asset goals.
  • For FFY 2011-2015, CEDS IDA participants purchased 53 homes, started 93 businesses (without MED loans or technical assistance), purchased 70 vehicles, and obtained 23 post-secondary educations.
  • For FFY 2011-2015, 45.6% of all MED borrowers were first IDA savers.
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