Stable Housing. Thriving Businesses. Strong Communities. Rossana Espinoza Small Business Development Officer, LEDC People & Places 2015 Community Conference March 4 th, 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 $1.5M invested in 103 small businesses to start and expand in DC, MD and NoVA AFFORDABLE HOUSING 3000 families in 84 apartment buildings assisted with affordable housing preservation services HOMEOWNERSHIP 39 new homeowners, and assisted 58 families save their homes from foreclosure BUSINESS CREATION 48 new 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 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 Espinoza Small Business Development Officer Latino Economic Development Center Phone: S Street NW Washington DC 20008