Bank Foundation Furthers Mission of Assisting Underrepresented Entrepreneurs Access Capital Through New Partnership
, /PRNewswire/ — The Freedom Bank of Virginia announces the Freedom Bank Foundation has entered into a formal agreement with Latino Economic Development Center (LEDC) as a second administrator for the NOVA Freedom Fund. From the proceeds of its third annual Campaign Celebration, the Foundation has also now funded an LEDC account to enable LEDC to begin making revolving loans to underserved entrepreneurs to grow and scale their businesses.
The NOVA Freedom Fund provides financing and technical assistance to underrepresented entrepreneurs in the DC Region. Since 2021, the Foundation through the help of the Community Business Partnership (CBP) has provided capital and assistance to twelve local entrepreneurs. Today the Foundation has raised over $350,000 and looks forward to using the funding to assist even more businesses by forging a new partnership with the Latino Economic Development Center (LEDC).
LEDC’s mission is to serve as a catalyst that drives …