CFFA Launches New Small Business Loan Program
Patty Huddle
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 phuddle@columbusfinance.org or 614-427-0394.
Coming Up in July: Everything You Wanted to Know about Fiscal Impact and JEDDs
Ohio’s Joint Economic Development District (JEDD) program is the major state program that enables collaboration among municipalities and townships to encourage investment and job creation. Over the past few years, the JEDD program has undergone a number of significant changes that impact on its practical use.
read moreIn Memoriam – The Life of Dan Evers
I first met Dan in the fall of 2016. I had moved to Central Ohio over the late holiday season in 2015 to begin serving as the new Director of GROW Licking County CIC, Dan’s former role. I was immediately struck by many in the community who worried that I would “not be enough,” that the “shoes were too big,” and that “Dan was larger than life.” And they were right.
read moreOEDA 2022 Annual Excellence Awards – Call for Nominations
The Ohio Economic Development Association’s annual Excellence Awards program recognizes the achievements of individuals and organizations in Ohio in the areas of economic and workforce development. Submit your nominations today and have excellence in your community recognized statewide!
A panel of judges will evaluate the nominations, determine finalists, and select a winner for each of the categories noted below. Award winners will be announced in conjunction with the 2022 OEDA Annual Summit, being held October 3-6 at the Exchange at Bridge Park in Dublin, Ohio.
read more