ACE Loan Program (Accelerating Community Excellence Loan Program)

Q: How much funding does ACE Loan Program (Accelerating Community Excellence Loan Program) provide?

Funding amounts vary. Check the grant details for specifics.

Q: When is the deadline for ACE Loan Program (Accelerating Community Excellence Loan Program)?

This grant has a rolling deadline or the deadline has not been announced.

Q: Who is eligible for ACE Loan Program (Accelerating Community Excellence Loan Program)?

Eligible applicants: Primary focus: Montgomery County, Maryland and throughout Maryland; Remaining 50% of funding targets eligible Montgomery County small businesses.

Latino Economic Development Corporation

Foundation Small Business Grants Economic Services Grants Grants for Minority-Owned Businesses

Funding Amount

Varies

Deadline

Rolling / Open

Grant Type

Foundation

Can we apply?

Check your organization against each line. Taken from the listing; confirm with the funder's guidelines.

Eligible organizations

Primary focus: Montgomery County, Maryland and throughout Maryland
Remaining 50% of funding targets eligible Montgomery County small businesses

Other requirements

At least 50% of VLT program funds must be deployed to eligible small businesses within a targeted radius surrounding the state's six casinos

Overview

ACE Loan Program (Accelerating Community Excellence)

Program Type: Small business loan program

The Montgomery County Economic Development Corporation's (MCEDC) Accelerating Community Excellence (ACE) Loan Program serves small businesses in the region. MCEDC was selected as a fund manager to lead the ACE Loan Program by the Video Lottery Terminal (VLT) Program. LEDC serves as the program's fiduciary agent to disburse loans to businesses in Montgomery County and throughout Maryland.

Geographic Scope

Primary focus: Montgomery County, Maryland and throughout Maryland
At least 50% of VLT program funds must be deployed to eligible small businesses within a targeted radius surrounding the state's six casinos
Remaining 50% of funding targets eligible Montgomery County small businesses

Funding Source

Part of: Maryland State Department of Commerce's VLT (Video Lottery Terminal) Loan Program
Created by: Proceeds from video lottery terminals from the state's six casinos

Focus Area

Small business lending
Economic development support

Key Features

Pre-qualification form available to start application
Information sessions offered in English and Spanish

Contact Information

DC Office: 1401 Columbia Road NW, Unit C-1, Washington, DC 20009 | Phone: 202-540-7400 | Fax: 202-978-1104
Maryland White Oak: 12520 Prosperity Dr., Suite 200, Silver Spring, MD 20904 | Phone: 202-540-7400
Maryland Baltimore: 3500 Boston Street, Suite 227, Baltimore, MD 21224 | Phone: 202-540-7400
Virginia Arlington: 2300 Wilson Blvd. Suite 719, Arlington VA 22201 | Phone: 202-540-7400
Puerto Rico: Calle Ramón Emeterio Betances #345, Suite 108, Mayagüez, PR 00680 | Phone: 939-545-2817

How to Apply

Application Process

Complete Pre-Qualification Form: Start your ACE Application using the pre-qualification form
Attend Information Session: Optional information sessions available in English and Spanish to learn more about the program
Submit Full Application: After pre-qualification, submit complete business loan application materials
Business Review: LEDC staff will review your business plan and financial documentation
Loan Decision: Receive loan decision and disbursement upon approval

Required Materials (Likely, based on standard SBA/small business lending)

Business plan
Financial statements
Personal credit history
Business location/property information
Proof of business registration

Application URL

https://www.ledcmetro.org/ace_loan_program (contains pre-qualification form link)

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What Latino Economic Development Corporation actually gave

Source: IRS Form 990, 2025

Grants in 2025: 185
Total given: $4.99M
Median grant: $10K
Range: $5,100–$255K

By dollars: Virginia 40%, Maryland 31%, District of Columbia 26%. Top recipient cities: Washington, DC; Baltimore, MD; Fairfax, VA.
0% of grants with a stated purpose were for general or operating support.
67% of recipients were new grantees, not repeat recipients.

Example grants

Slingwheels LLC · Fairfax, VA

Small business technical support grant

$255K
Make a Scene Media LLC · Vienna, VA

Small business technical support grant

$156K
CCM Creative Marketing LLC · Virginia Beach, VA

Small business technical support grant

$140K
Career Path DC · Washington, DC

Small business support grant

$136K
Griffin and Co Marketing LLC · Alexandria, VA

Small business technical support grant

$120K