1. Economic Revitalization and
Community Development for Ohio

2. WHO WE ARE
Finance Fund is a statewide non-profit financial intermediary founded in 1987 to connect low- to moderate-income communities with public and private sources of capital.
Awards predevelopment grants and economic development grants to community-based non-profits
Makes capital available to economic development projects in low-income, high-distress areas through the federal and Ohio New Markets Tax Credit programs .
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3. WHO WE ARE
Finance Fund Capital Corporation (FCAP) is a certified nonprofit Community Development Financial Institution (CDFI).
Provides flexible loans to non-profit organizations and for-profit businesses located and operating in low- to moderate-income communities
Helps build and rehabilitate community facilities, commercial and industrial properties, retail and office space with small business loans
Focuses on affordable housing, community facilities, healthy food retail, and small businesses
Creates permanent, private sector jobs .
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4. OUTCOMES
To date, Finance Fund and its affiliates have invested more than $459.2 million in housing, economic development, and community facility projects leveraging over $1.83 billion.
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5. Finance Fund and FCAP work to develop healthy, sustainable economies in low- and moderate-income, at-risk rural and urban communities.

6. GRANT PROGRAMS: Eligibility
Community-based non-profit organizations with a development focus
Defined geography, focused on low- to moderate-income areas
1/3 of board membership represents those areas
Financial capacity of organization (to complete project)
Match requirement
12 months to use funds
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7. Grants Programs - Predevelopment
Up to $30,000 plus up to 15% for administrative costs
Purpose:
Determine feasibility of a project – appraisals, market studies, business plans, architectural or engineering drawings, environmental studies and other professional fee
Current focus: affordable housing or mixed use projects
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8. Grants Programs - Predevelopment
Non-profit CDCs and Community Action Agencies are eligible to apply:
Predevelopment Grant (Up to $30,000)
Eligible Uses: Appraisal, feasibility studies, architectural drawings, engineering, environmental studies or professional fees
Economic Development Grant (Up to $100,000)
Eligible Uses: Real estate, furniture/fixtures, equipment and machinery
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9. Grants Programs - Predevelopment
Non-profit CDCs and Community Action Agencies are eligible to apply:
Predevelopment Grant (Up to $30,000)
Eligible Uses: Appraisal, feasibility studies, architectural drawings, engineering, environmental studies or professional fees
Economic Development Grant (Up to $100,000)
Eligible Uses: Real estate, furniture/fixtures, equipment and machinery
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10. Grants Programs - Predevelopment
Sources Uses
Cash from CDV Architecture
Local foundation grant Engineering
FF Predevelopment grant Environmental
Appraisal
Feasibility
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11. Grants Programs - Predevelopment
Greene County
8 new homes: 6 rentals and 2 for-sale
4 rentals for low-income seniors or persons with special needs, 1 for person with developmental disability
For-sale housing for <80% AMI
Site Control
1/3 for architectural / site plans
Engineering drawings
Project planning
Re option
Appraisal
Permanent Funding through FHLB, OHFA, Foundation funding and DODD
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12. Grants Programs – Economic Development
Up to $100,000 plus 15% for administrative costs
No more than 30% of total project costs
Purpose:
Filling the gap (“but for”)
Self-sustaining
Best used for purchase of fixed assets and professional fees (prevailing wages)
Current focus: commercial revitalization that creates jobs
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13. Grants Programs – Economic Development
Sources Uses
Primary loan Acquisition
City & other grants Construction
FF ED grant Soft costs
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14. Grants Programs – Economic Development
Summit County
Mixed-use, multi-story project
LITHC for top floors with 1 & 2 BR apartments for seniors
Grant for 1st floor retail
Adding density to neighborhood
Retail: 1 or 2 large, health-related tenants or multiple, smaller service-oriented for tenants and neighborhood (such as a barbershop)
Retail component has local financing, few small grants and likely debt from Finance Fund
Grants Programs – Economic Development
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15. Grants Programs
New round of Predevelopment and Economic Grants are open from Monday, April 16th through Friday, June 1st
Criteria: focus (AH, CRE, etc.), feasibility, impact, geography
Grant period is not first-come, first-serve
Very Competitive (ED: 12 applications for 4 spots last round)
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16. NEW MARKETS TAX CREDIT
Finance Fund awards NMTC allocation for a broad range of commercial real estate projects, operating businesses and non-profit organizations located in low-income rural and urban areas throughout Ohio
Incentive of federal income tax credit over seven-year period
Projects range from $7MM-$20MM
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17. CURRENT PROGRAMS: FCAP
Affordable Housing Loan Fund
Community Facilities Loan Fund
Healthy Food for Ohio (HFFO)
Small Business Loan Fund
$100,000 - $2,000,000
Fixed interest rates
Balloon loans with longer amortization
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18. AFFORDABLE HOUSING LENDING
Flexible financing for developers of affordable housing (multifamily)
Focus on housing with services for special needs populations such as persons with disabilities and second-chance citizen
Also consider gap financing for immediate needs projects
$200,000 - $2,000,000
Fixed rates on 5-10 year loans with longer amortizations
Collateral position may be flexible
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19. COMMUNITY FACILITIES LENDING
Flexible financing for non-profit organizations serving low-income populations (including real estate)
Land & building acquisition, construction & renovation, equipment, working capital, and related project costs
$200,000 - $2,000,000
Fixed rates on 5-10 year loans with longer amortizations
Collateral position may be flexible
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20. Food retailers for capital projects to build new or renovate existing fresh food retail in underserved communities
Loans and few “small dollar” grants
Funds may be used for costs associated with land acquisition, construction & renovation, equipment, working capital & inventory, and related project costs
$200,000 - $2,000,000
Fixed rates with 5-7 year terms, longer amortization
Personal guarantees generally requires
(Not only retail)
HEALTHY FOOD FOR OHIO
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21. SMALL BUSINESS LENDING
For-profit businesses with an established financial history unable to obtain a traditional loan
Acquisition & renovations (including leased property), purchase of machinery & equipment, and working capital / inventory
$100,000 - $1,000,000
Fixed rate, 5-7 year term loans
Personal guarantee generally required
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22. SMALL BUSINESS LENDING
SBA Community Advantage loan program is available to existing, for-profit small businesses
Maximum loan amount $250,000; 10% cash equity investment
Funding to purchase, expand or improve business real estate or purchase business equipment or other assets
SBA guarantees Community Advantage loans
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23. SMALL BUSINESS LENDING – Bake Me Happy
Wholesale bakery focused on gluten-free offerings
Limited retail hours at site
Opportunity to expand into retail space next door (12,000 SF) and expand retail hours
Financing for equipment & growth costs
Space will also be available for community & company meetings, special events and musical performances
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24. Please tell us about your project! We look forward to working with you.

25. Anne Geggie, VP of Lending
QUESTIONS?
THANK YOU!
Anne Geggie, VP of Lending
x5049
Finance Fund
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