CFFA Launches New Small Business Loan Program
Columbus-Franklin County Finance Authority
The Columbus-Franklin County Finance Authority (CFFA) Board of Directors has approved a $367,500 inaugural loan from the organization’s newest offering, the Neighborhood Improvement and Small Business Loan program. The borrower, Community Development for All People, used the funds to acquire and renovate a building near its Parsons Avenue office. The building will be used for office space and to deliver programming such as a Learning Extension Center for students who attend school virtually
“We’re grateful to CFFA for this funding,” said Rev. John Edgar, Executive Director of Community Development for All People. “This building will allow us to expand our work in transforming the South Side.” See renovations currently underway and learn more about planned uses for the building by watching this brief video.
“We could not be more pleased to be working with Reverend Edgar and Community Development for All People as the first client and project for our new loan program,” said CFFA President Jean Carter Ryan. “It perfectly fits the program’s objectives of stimulating investment in areas of need and serving a greater community purpose. Small businesses and healthy neighborhoods are critical to the economy.”
Neighborhood Improvement & Small Business Loans provide low-interest loans to small businesses and organizations in developing businesses and real estate in modest-income neighborhoods in Franklin County. Approved loans will range from $25,000-$500,000.
Authorized by the CFFA Board, the new program makes $1.5 million available for community lending in 2021, with the opportunity for additional funding over a three-year period. “CFFA has a fantastic bond financing track record and is recognized as a leader in the State of Ohio,” said Darnita Bradley, Vice Chair of the CFFA Board. “Our approval of the Small Business & Neighborhood Improvement Loan program will expand our financing services to new clients and locations. We’re eager to deploy our resources to serve unmet community need.”
Interested in the Neighborhood Improvement & Small Business Loan? Contact CFFA Vice President Patty Huddle at email@example.com or 614-427-0394.
About three months ago, we launched our Recovery Within Reach campaign, a first-of-its-kind effort to educate Ohioans about the financial effects of opioid addiction — and to connect them with treatment options close to their homes.
Our goal is to create a new way of talking about addiction, one in which people consider the facts and practical realities of how substance use disorder affects their lives. Not long ago, Gov. Mike DeWine challenged all of us in state government to think of ways we could help Ohioans navigate the opioid crisis that has affected our state for so long. For us, that meant considering the financial effects of addiction — and providing tools and trainings to help Ohioans and financial advisers talk about addiction and access care.read more
Uptown Consortium, Inc. (UCI) received $45 million in New Markets Tax Credits, which it will use to spur development in transformational projects in Uptown Cincinnati.read more
Newark Development Partners (NDP), the community improvement corporation for the City of Newark, continues to further development in the Downtown through various projects. The sale of the Hudson Avenue Church with surrounding property, the renewal of the Downtown Special Improvement District and the commencement of construction at the Historic Arcade are all recent successes for the City of Newark.read more