At the Clinton Global Initiative in September 2006, President Ellen Johnson-Sirleaf challenged participants to support the efforts of her government to reconstruct Liberia after nearly twenty years of civil war. In particular, President Sirleaf requested support for Liberia’s private sector which, in her view, had a leading role to play in the area of job creation, revenue generation and overall economic activity. Robert L. Johnson, Chairman of the RLJ Companies and founder of Black Entertainment Television, along with several colleagues, responded with a commitment to mobilize $30 million to help revitalize Liberia’s private sector.

President Sirleaf emphasized that a lack of access to working capital was a primary constraint to the effort of many Liberians to rebuild their businesses and livelihoods. A lack of capital, and an inability to become economically productive, was also a major obstacle to the return of many Liberians living in the United States and elsewhere.

For this reason, the RLJ Companies joined forces with the Overseas Private Investment Corporation and CHF International to respond to President Sirleaf’s appeal to ensure that Liberia’s private sector becomes an engine of sustainable development. Together they created the Liberian Enterprise Development Finance Company (LEDFC) to address the challenge small- and medium-enterprises are facing by facilitating access to capital.

LEDFC has received $20 Million USD in debt capital from OPIC to finance lending to small and medium businesses in Liberia.

LEDFC will provide credit to local businesses using a “relationship banking” approach by offering a variety of credit products that will allow local businesses to build credit histories in order to access larger credits as they grow.

• Fixed Asset Loans: Medium term investment loans (3 to 5 years) for investment in capital equipment and other productive assets needed to restart or expand an existing business.

• Working Capital Loans: For clients unable to access capital from local commercial banks, LEDFC will offer short term working capital facilities (3 to 12 months) geared to the borrower’s needs and capacity to use short term capital. For more established businesses with a credit repayment record, a line of credit facility could be extended up to one year.

Loans will be made to qualified businesses with bankable projects and meet OPIC policy requirements.

Address: Allison Street, Devine Town Community, Oldest Congo Town, Monrovia, Liberia
Telephone: +231 (5) 770-044
E-mail: info@ledfc.com