• Employer: Latino Economic Development Corporation (LEDC)
• Type of Position: Internship
• Industry: Education and Training
• Location: Washington, DC
• Salary Range:

Intersnship Opportunity

LEDC Synopsis: The Latino Economic Development Corporation (LEDC) is a private, non-profit 501(c)(3) community development corporation founded in 1991. LEDC’s mission is to drive the economic and social advancement of low- to moderate-income Latinos and other D.C. area residents by equipping them with the skills and tools to achieve financial independence and become leaders in their communities. LEDC’s main office is in the Adams-Morgan neighborhood of Washington DC, and has a branch office in Wheaton, MD.

Community Asset Fund for Entrepreneurs (The Fund) Synopsis:

Capable entrepreneurs of diverse backgrounds are often excluded from accessing business loans through the formal financial sector. Small business owners need a lender that can help them access capital and create jobs. The Community Asset Fund for Entrepreneurs (The Fund), the new face of LEDC’s Lending Program, equips entrepreneurs in the D.C. area with the capital and skills to improve their lives and strengthen the small business community. The Fund provides business loans between $5,000 and $50,000 to qualified start-ups and existing businesses that have difficulty obtaining credit from mainstream financial institutions. These loans have supported a broad range of small business owners, including restaurants and boutique shops to cleaning and catering companies. Ultimately, The Fund aims to graduate borrowers to larger loans with traditional lenders, thereby increasing their capacity to create wealth for their owners and economic opportunity for the communities they serve. Since 1997, the Lending program has provided more than $5 million of capital to support underserved entrepreneurs in the DC area.

Position Summary:

-Loan processing

•Assist Portfolio Manager in the back-end operations of the lending process. Tasks may include:

•Billing and invoicing:

1.Mail monthly statements to loan clients

2.Apply ACH and check payments in the system

3.Data-entry of monthly payments in QuickBooks

•Late clients: Generate “Portfolio risk report” and note any delinquent borrowers on a weekly basis

•Follow-up with late borrowers

•Place liens on collateral

•Label and organize files

•Work with loan officer to review Lending Database to create a summary of clients by certain parameters, such as: industry, size, zip code.

Internship Hours:

Washington, DC 20 hours per week Education Requirements:

•Bachelor's degree, or current upper class college student, preferably in Accounting or Finance.

•Proficient on computer skills using Microsoft Word, Excel, Power Point and Outlook.

•Strong verbal and written communication ability and organizational skills.

•Good level of interpersonal and social skills needed to interact with customers or prospective clients. Good time management skills

Skills and Experience

•Bilingual (English/Spanish), and culturally sensitive

•Experience with QuickBooks/Bookkeeper.

•Demonstrated commitment to working with low income communities

Required Education and Experience:

To Apply:

To apply, send cover letter and resume to Diana Avellaneda/ Portfolio Manager at davellaneda@ledcmetro.org. No telephone calls please To learn more about LEDC visit www.ledcmetro.org.

Contact Information:

Diana Avellaneda

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fax:
davellaneda@ledcmetro.org