The Economic and Development Institute (ECDI) was founded to help establish, stabilize, or expand small businesses by combining business training and technical assistance with access to capital. As one of the largest US Small Business Administration micro-lenders in the country and a US Treasury designated Community Financial Institution, ECDI provides financing for small businesses that normally would not qualify for a conventional bank loan.
Started in Columbus in 2004 before expanding to Cleveland in July 2012, and Akron in November 2014, we have become a statewide SBA lender. We also have Field Offices in Toledo and Cincinnati. Since our inception, we have benefited local communities throughout the state of Ohio, assisted over 8,500 individuals, disbursed over $33 million through 1,600 small business loans, and created and retained over 5,900 jobs via our comprehensive suite of programs available through our offices.
ECDI’s loans range from $500 to $350,000 and shows a large variety in their clients and the uses for the loans. Equipment-based loans are currently very popular, but others use the funds for entrepreneurial ventures and other operating costs.
We provide loans to both new and established businesses. Many of our other services can help develop a new business into a loan-ready client. ECDI provides the tools, technical assistance and support for businesses to succeed.