Economic and Community Development Institute Inc.

Filing Period

Jul 1, 2012 to Jun 30, 2013

Signed

Feb 14, 2014

Return Version

2012v2.2

Gross Receipts

$5,640,240

Mission

Major Activities

Activity 2

The ECDI Small Business Loan Program provides loans in amounts up to 100,000 to small businesses in Central Ohio and Southwest Ohio. Under this program, ECDI is able to make loans to low and moderate-income entrepreneurs, or those with insufficient credit histories to qualify for a loan through a traditional financial institution. Rates and terms depend on the risk, size, and profitability of the business, as well as the needs of the borrower however these interest rates are fixed. In addition to traditional, fixed-rate loan products, interest-free, fee-based loans are available for borrowers whose religious beliefs preclude them from paying interest.

Activity 3

ECDI has extensive training and technical assistance available to help its clients acquire the knowledge and tools they need to succeed. All programs begin with foundational Financial Literacy training, which teaches personal financial management skills. ECDI also provides general business development training courses, during which entrepreneurs are given the tools they need to start and successfully manage a business. In addition to financial literacy and general training, ECDI offers business development training geared towards specific industries such as food-based or home-based childcare businesses and ongoing topical seminars that address topics relevant to entrepreneurs. If a client needs additional help, ECDIs staff is trained to address individual issues with the entrepreneur one-on-one.

Filer

EIN

31-1145544