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Program Description

The Basics

Capital for Construction offers low-interest, short-term loans, enabling you to complete work on a contract, and then pay off the loan when you receive your payment. 

The Benefits

  • Access to capital
    Have funds to pay up front for suppliers and labor to fulfill a contract, even when you will not receive payment for weeks or months after you've sent your final invoice

  • Entrepreneur training
    Get no-cost training in accounting and other business practices, so you'll be confident managing this loan and other future financial contracts

  • Help with certifications
    MBE, WBE and other certifications will open your business up to a host of government and other contracts 

  • Ongoing professional assistance
    Take advantage of continued technical assistance, business training and mentor matching

  • Procurement opportunities
    Receive notice of procurement opportunities from ECDI's network of large commercial building companies

The Details

  • Loan range
    $5,000 to $350,000


  • Expenses your loan can cover
    Loans can be used for labor, materials and other ancillary costs relating to completing the project work (usually about 50% of the total contract value)

  • Ability to fund multiple contracts
    After you've successfully paid off your first loan, you can mobilize up to three contracts at a time


  • 12 month term limit
    Capital for Construction loans are short-term, so loans must be paid back within 12 months or less.


  • Application and closing
    Standard application process and closing fees do apply to this loan. Your ECDI relationship manager will give you full details.


  • Time to loan
    Please be aware, you will need to complete the loan readiness and application processes before you can receive funds, which may take 2-3 weeks (or potentially longer if you are required to complete training or take other actions). We recommend that you begin the process now, so you're ready to move when you land that big contract!

The Requirements

  • Owned by Black or other minority entrepreneur
    Businesses must be owned and operated by a person who is African American or another ethnic or racial minority. (Note: We also offer a program specifically for female entrepreneurs.)

  • Loan readiness
    Borrowers must be "loan ready." Our loan advisors will work closely with you to assess your standing and assure your readiness, including help with certifications, financial or other training, or any other steps that are needed for your business and specific situation.
    Each borrower must complete a loan readiness update on a yearly basis. 

  • MBE- or WBE-certified 
    Businesses must be certified. (We can assist.)

  • Contract
    Once you are loan ready, you must have a signed and dated contract from the company who is giving you the project, including a schedule of work and payment schedule.  

  • Joint payment authorization
    Once you have provided a signed copy of your contract, ECDI will work with you and the general contractor or company you're contracting with to sign appropriate joint payment authorization forms, stating that the general contractor will make payments directly to ECDI until the loan is paid in full.


  • Personal guarantee and LOI
    As part of the application process, you will be asked to sign a personal guarantee and letter of intent (LOI).


  • Licensed, insured, legal
    Borrowers must be licensed to operate, maintain appropriate P&C and liability insurance, be authorized to work in the United States, be legally structured, and/or meet any state or federal requirement for legally operating.


  • Reporting
    A site visit, payment schedules and periodic project status reporting are required after loans are issued, in addition to jobs reporting.

NOT Requirements

  • Property, inventory, or collateral other than your signed contract are not required. 

  • You are not required to have a high credit score.
    However, you might not be eligible if you owe personal or business taxes (exceptions made in special situations).


  • Strong banking history is not required.
    This program is made to give an advantage to those who have been under-served by traditional banks.

If you're not sure you'll qualify, or if you haven't landed a big contract yet, we encourage you to apply now. Our loan advisors will help you through the steps you'll need to take to be loan ready when you do find that game-changing contract opportunity.

Start now, and be ready when opportunity knocks:

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ECDI is one of the top U.S. SBA intermediary microlenders with a mission to invest in people to create measurable and enduring social and economic change. ECDI provides responsible, affordable lending and comprehensive small business development services to help underbanked people and communities join the economic mainstream. ECDI’s target population includes low-moderate income individuals, minorities, women, immigrants, and refugees, and those otherwise precluded from funding from a traditional financial institution.

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