Bit and power loading (BPL) algorithms played a pivotal role in the success of orthogonal frequency division multiplexing (OFDM) in digital transmission, including lightemitting diode (LED) based wireless optical communications. Nevertheless, the conventional BPL algorithms do not distinguish the nonlinear distortion generated in LED transmitters from an additive noise, which leaves room for improvement. This letter presents a novel power loading and two BPL algorithms that maximize the transmission capacity while minimizing the nonlinear distortion generated in LED. The effectiveness of the proposed algorithms is evaluated through simulations and transmission experiments, revealing a throughput increase of up to 10% in comparison to what can be achieved employing classical algorithms.