Microenterprise Development Initiative
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.
The Economic and Community Development Institute or ECDI is a 501(c)(3) non-profit economic development organization headquartered in Columbus, Ohio. ECDI’s mission is “to invest in people to create measurable and enduring social and economic change.” As the only U.S. Small Business Administration (SBA) intermediary microlender and U.S. Treasury designated Community Development Financial Institution (CDFI) in the state of Ohio, ECDI addresses the needs of aspiring entrepreneurs and small business owners in the creation and expansion of their businesses. Programs and services provide entrepreneurs and small business owners with tools they need to start or expand businesses. Programs include small business development training, one-on-one technical assistance, and incubation services. Also, ECDI fills a gap in the credit industry by offering loans from $500 to $350,000.