The Hispanic Economic Development Corporation (HEDC) has been awarded a $300,000 grant for micro lending through its IMPACTO micro loan fund. Congressman Emanuel Cleaver II made the announcement and presented the check to HEDC.
The HEDC IMPACTO Fund was designed to help local Latino entrepreneurs receive the funding that they otherwise would not be able to receive from traditional sources, who are unwilling to take a risk on new business. By offering low-interest capital, along with technical business training, IMACTO Fund Inc. hopes to provide new businesses the opportunity not only to get off the ground, but to grow to a point where they can receive the traditional financing necessary to succeed in the long-term.
HEDC is a registered 501(c) (3) nonprofit organization in the States of Missouri and Kansas. HEDC’s mission is to create and implement economic development initiatives which improve the lives of Latinos within the Kansas City metro area. This mission is accomplished through programming focused on strengthening existing Latino small businesses and cultivating the entrepreneurial spirit of Latino start-ups. HEDC is the only area CDC offering economic development initiatives purposefully designed for the Kansas City Latino community. HEDC provides bilingual and culturally sensitive approaches to assist current and aspiring entrepreneurs to achieve financial stability. Learn more at www.kchedc.org.