Economic and Community Development Institute
Economic and Community Development Institute (ECDI) supports small business start-ups and expansion for low and moderate income entrepreneurs, and offers a number of programs and training opportunities specifically developed for Black entrepreneurs. ECDI fills a gap in the credit industry by offering loans ranging from $500 to $350,000 to underserved entrepreneurs. ECDI’s one-stop shop small business development model has provided valuable services to disadvantaged entrepreneurs, including culturally and linguistically appropriate financial literacy and micro enterprise training, one-on-one technical assistance, financial literacy services, and access to markets through business incubation.
Mission
Our mission is to invest in people in order to create measurable and enduring social change.
Storytelling
ECDI counts hundreds of successful business-owners among current and former clients, including Jackie Chapman of JC’s Sweet Ice Tea, and Chris Harris of Black Frog Brewery. Chapman began producing her tea at ECDI’s Food Fort in 2011, and with the help of ECDI staff, created a business plan and secured the loan she needed to scale her business. Her product is now available in large retailers spanning six states.
For Harris, brewing beer as a hobby quickly developed into a promising small business. Seeking capital to increase production, he was referred to ECDI through the Minority Chamber of Commerce. With assistance from ECDI, his taproom has become a local hit. Harris is currently planning an urban production facility.
Type of Organization
- Lending Organization
- Nonprofit Organization
Locations Served
- Ohio
Key Programs and Initiatives
- Capital for Construction
Types of Offerings
- Financing
- Entrepreneurial Training
- Workshops
- Matchmaking/networking opportunities
- 1 to 1 business advising
- Mentoring/coaching
- Business incubation
Program Delivery
- Hybrid (in person/virtual)
Members of the Black Community Served
- Immigrants
- Returning Citizens/Formerly incarcerated
- Women
Locations of Members of the Black Community Served
- Low-income areas
- Urban areas
Targeted Entrepreneur Segments
- Construction
Business Stage
- Start Up : a young business that is just beginning to develop and determine a market fit.
- Stay Up : a business that has determined its market fit, but its product/service has not been validated nor has it achieved sustainability.
- Scale Up : a business that already validated its product in a market and has proven sustainable.
Cost of Programs
- Free