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Who We Are ECDI:“Investing in people to create measurable and enduring social and economic change.” ECDI is a non-profit, economic development organization,

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Presentation on theme: "Who We Are ECDI:“Investing in people to create measurable and enduring social and economic change.” ECDI is a non-profit, economic development organization,"— Presentation transcript:

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2 Who We Are ECDI:“Investing in people to create measurable and enduring social and economic change.” ECDI is a non-profit, economic development organization, which provides knowledge, education, mentoring, asset building grants, and small business loans to anyone interested in starting or expanding their current business. Our goal is to help individuals succeed as small business owners which bolsters the local economy, and in turn, helps those individuals attain financial freedom for themselves and their family. Another goal is to create jobs and keep dollars local, recirculating through the local Economy We are the 7 th largest micro lender in The United States with access to over 36 loan funds. SBA microloan intermediary lender and Community Development Financial Institution with 88 county footprint throughout the state of Ohio

3 Who We’ve Helped? Since it’s creation in 2004, ECDI has assisted more than 2,000 businesses and created and retained more than 4,000 jobs. In 2013 alone, ECDI has lent close to $3 million in capital to local small businesses, increasing the total capital deployed for small businesses since 2004 at over $15 million.

4 How We Help Our suite of services include: One-on-one business mentoring Individual development-matched savings accounts Small business loans Fully operational food commissary and kitchen Women’s Business Center of Ohio “ECDI invests in YOU so you can invest in YOUR future”

5 Educate The Women’s Business Center is the only U.S. Small Business Administration funded center in the state. The WBC includes: Access to laptops and PC’s Wireless Internet Free Core Business Classes Notary & Printing services One-on-one Counseling Loan packaging *The WBC is funded in part through a Cooperative Agreement with the U.S. Small Business Administration.

6 Educate Offer wide range of classes and training to benefit you and your business: Financial Literacy Get Your Business Up and Running Technical Assistance Ask the Expert series credit classes, marketing classes, food safety classes, social media help

7 Invest Offer loans to help your business Loans up to $350,000 for small businesses US Treasury Certified Community Development Financial Institution (CDFI) In 2013, ECDI: Lent $3M in capital to local, small businesses Audrey Todd, Food for Good Thought

8 Invest Individual Development Account An IDA is a special matched savings account to help low-income individuals and families put money aside for homeownership, education, or starting a small business. Money can be put towards the purchase of an asset: Home Post-secondary education Their existing business In special cases, down payment on an automobile You Save, We Match, You Win!

9 Invest Individual Development Account For every dollar you deposit in your IDA account, the IDA program invests in one or more matching dollars. An IDA account is a matched savings account. Qualification is required and your program may vary, depending on your nationality or citizenship status. If your IDA program offers a 3 to 1 savings match, you get three extra dollars for each dollar you save. If you deposit $50 per month, for example, you get another $150 deposited in your account, for a total of $200. There is a limit on the amount of deposits that will be matched. You Save, We Match, You Win!

10 Invest Invest Local Ohio Fund Provides community members the opportunity to invest in local, small businesses in our community and receive a return. ECDI has committed to leverage every ILO Dollar with at least $2 from other sources. Last quarter, ECDI made loans totaling $54,800 from the ILO Fund, which was leveraged with an additional $153,169.83 from other funds, turning every $1 you invest into $6 for local entrepreneurs. Jobs created: 20! Some businesses: Kids Authentic Apparel Leafy Greens Local Food and Market Ohio Fit Club Pho Chef Sine Wall, LLC Bitul Trucking, LLC

11 Innovate The Food Fort is a licensed food cart commissary and incubator that provides: Access to capital Food-specific business development programming Clean and secure cart and truck storage Cart rental and leasing Targeted cart location assistance Commercial kitchen and bakery Food safety training Access to markets (Kroger, Celebrate Local) Shared office space

12 Innovate The Cleveland Culinary Launch & Kitchen Shared kitchen experience that allows culinary entrepreneurs to bring their culinary dreams into a reality Fully licensed kitchen facility that adheres to high standards of the Ohio Department of Agriculture Allows entrepreneur’s the opportunity to rent kitchen time hourly Baking Catering Canning Thermal processing Dry packing

13 Celebrate Local is a pop-up seasonal store showcasing local, handmade, and artisan goods: 200+ local vendors 2,200 square feet at Easton Town Center Consignment model Space donated by Easton Community Foundation Beer and wine licensure Innovate

14 RISE: Retail Incubator Supporting Entrepreneurs Partnering with Franklin County, The RISE program is designed to provide economic opportunity for retail micro businesses Start or grow your retail enterprise Business owners will obtain training as well as one-on-one specialized technical assistance with their retail operation Access to Low interest loans to help purchase machinery, equipment, and working capital for their retail establishments. Innovate

15 KickStart Columbus WIDGET PITCH 2013 Contest for Local Entrepreneurs Contestant’s pitch their product or service, in the fashion of ABC’s “Shark Tank”, to a select panel of judges to secure more funding Winner receives funding for their idea! Innovate Thanks to Council Member A. Troy Miller and Columbus City Council for sponsoring this event!

16 ECDI’s Reach ECDI services other parts of Ohio: ECDI Cleveland Programs: Small Business Loans Business loans between $500 and $150,000 Training Small Business fundamentals for start-up businesses Cleveland Culinary Launch & Kitchen Food Business Incubator Incubator program for culinary businesses ECDI Toledo Programs: Small Business Loans Business loans between $500 and $150,000

17 Client Spotlight The Buckeye Lake Winery opened over the busy 4th of July Weekend and quickly began to create “buzz” around the Buckeye Lake Community. It is now officially safe to say that The Buckeye Lake Winery is another ECDI success story. They just recently had to extend their business hours in order to meet the huge demand the Winery is experiencing. With an excellent assortment of California based wines, along with an assortment of local wines paired with gourmet food options, The Buckeye Lake Winery offers a unique experience that sets itself apart from the other Lake offerings. The Buckeye Lake Winery is located at 13750 Rosewood Rd, Thornville, Ohio, 43076 are open Wednesday through Sunday. Congrats Tracy & Laura! We wish you continued success!

18 Partners and Funders 5/3 Bank Bank of America Charter One Foundation CitiBank City of Columbus Department of Development City of Cleveland Department of Development Cleveland Foundation Commerce National Bank Franklin County Economic Development and Planning Huntington National Bank Key Bank Kroger Ohio Department of Development PNC Bank United Way of Central Ohio US Bank U.S. Department of Agriculture (USDA) U.S. Department of Health and Human Services Administration for Children and Families Office of Community Services (OCS) Office of Refugee Resettlement (ORR) U.S. Small Business Administration U.S. Treasury Community Development Financial Institutions Fund (CDFI) (SBLF) WesBanco World Financial Network National Bank Sam’s Club Goldman Sachs Calvert Foundation First Bexley Bank Easton Community Foundation Columbus Foundation Columbus Jewish Foundation Cleveland Foundation Business of Good Foundation Invest Local Ohio SCORE I Know I Can Habitat for Humanity Bradford Culinary School Children’s Hunger Alliance Columbus Metropolitan Library Stranahan Foundation Local Initiatives Support Corporation Toledo

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