The Port Authority and the Economic and Community Development Institute Launch the Toledo Microenterprise Development Initiative
Tuesday, March 01, 2016
PARTNERSHIP TO PROVIDE ASSISTANCE TO LOCAL SMALL BUSINESSES
TOLEDO, Ohio, March 1, 2016 – Paul Toth, President and CEO of the Toledo-Lucas County Port Authority, and Steve Fireman, the Economic and Community Development Institute’s (ECDI) President and General Counsel, announce today a partnership to continue to provide access to small business loans to qualified microenterprises and entrepreneurs in Lucas County and the Greater Toledo area. The Microenterprise Development Initiative is designed to provide access to capital and technical assistance to start-up and existing ventures finding it difficult to obtain traditional financing. The Port Authority will be the point of access and ECDI the lending partner. ECDI has over 40 loan funds and will provide loans from $500 to $350,000 to qualified small businesses. It will also provide technical assistance throughout the life of a loan, up to five years of assistance.