LEDC's NextGen Impact Fund Loan powered by SELF

LEDC's NextGen Impact Fund Loan powered by SELF

Program Type: Unsecured personal loan for home improvement

Overview: Make your home healthier, safer, and more efficient with an unsecured, low-interest rate loan from LEDC's NextGen Fund. LEDC approves people based on their ability to pay, not their credit score.

Loan Terms

• Loan Amount: $3,000-$25,000 (up to $50,000 for solar products)
• Interest Rate: 5.0%-10.5% fixed (7.4% to 8.5% for solar products)
• Terms: 3-8 years (up to 7 years for solar products)
• Origination Fee: 2.5% (1.25% military discount)
• Project Coordination Fee: 2.99%

Geographic Scope

• Maryland, DC, and Virginia

Eligibility Requirements

• Primary Applicant must be the owner or next of kin of the residential subject property
• Home must be located in Maryland, DC, or Virginia
• Applicant(s) must prove ability to pay (employment income, Social Security, Disability, etc.)
• Property taxes must be current
• Home mortgage loans must be current (with proof)
• Primary Applicant cannot have a bankruptcy in the past 12 months
• No minimum credit score required
• No income limits (minimum or maximum)
• No minimum asset or home equity required
• Co-signer or cash collateral may be required depending on previous payment history

Eligible Improvements

• Energy Efficiency, Conservation, or Renewable Energy projects
• Solar PV and solar products
• High-efficiency A/C
• Tankless water heaters
• Insulation
• Solar attic fans
• Solar water heaters
• Solar AC
• Sewer and water
• Storm resilience
• Roofing
• Weatherization and insulation
• Lighting
• Health and safety
• Disability products
• Air conditioning
• EV chargers and electric generators

Key Features

• No Minimum Credit Score: Loans based on ability to repay, not credit score
• Trusted Contractors: LEDC pre-screens all contractors, checks pricing, and provides project coordination from start to finish
• Manufactured Homes: Program lends to manufactured homeowners (mobile homes affixed to ground qualify)
• Mission: Non-profit organization helping homeowners from all walks of life enjoy safer, healthier, and more comfortable, efficient homes

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