Who we are : non-profit economic development organization

2. About ECDI • Who we are: non-profit economic development organization • What we provide: knowledge, education, mentoring, asset building grants, and small business loans • Our focus: helping individuals succeed as small business owners

3. Track Record and Goals Since 2004 ECDI has: • Assisted more than 2,000 businesses • Created and retained 4,000 jobs through that assistance Since 2004 ECDI has had 4 main goals: • Help families enter the financial mainstream • Help new businesses get started • Help existing businesses grow • Create Jobs

4. ECDI Programs Program 1: One-on-One Mentoring • Individual mentoring sessions from business experts Program 2: Individual Development Accounts • Grants matched to a participant’s personal savings Program 3: Small Business Academy • Ongoing required and elective training Program 4: Small Business Loans • Business loans between $500 and $100,000

5. ECDI Programs, cont. Program 5: Food Fort • Subsidiary of ECDI that helps support and grow business owners in the food industry Program 6: Celebrate Local • All-local retail store at Easton Program 7: Children’s Health Insurance Enrollment • Assistance enrolling in Healthy Start (no cost health insurance) for eligible children

6. ECDI Programs, cont. Program 8: The Women’s Business Center • SBA Business Resource Center designed to support low-income and minority women business owners

7. PROGRAM 1: Small Business Mentoring

8. Small Business Mentoring FREE sessions to help you prepare, launch and grow your small business conducted by an attorney, an accountant, and a marketing expert • Basic Considerations Class - One hour class held each quarter or as needed to provide an overview of issues affecting small business

9. Small Business Mentoring SCORE: SCORE is the non-profit arm of the SBA • Provides one-on-one mentoring weekly • Will counsel for one hour per session • Focus is on business processes and business plans To register for a SCORE counseling session go to their website: www.ScoreColumbus.org

10. PROGRAM 2: Individual Development Accounts

11. Individual Development Accounts (IDAs) What is an Individual Development Account? • A matched savings grant rewarding monthly savings of income eligible families building towards the purchase of an asset (home, education, business) Eligibility: • Must be employed or self-employed • Must have household income at or below 200%/below the federal poverty level Minimum savings goal and timeframe: • $25/month for at least 6 months

12. IDA Eligibility Who is eligible? Participant must be employed or self employed, and his/her household income must be at or below 200% of the Federal Poverty Guidelines. Household assets cannot exceed $10,000, excluding one house and one car.

13. IDA Programs for Businesses United Way of Central Ohio • Available for anyone who meets eligibility guidelines • $2 matched for every $1 saved/maximum of $1,000 grant • Save $500 and receive a grant for $1,000 = $1,500 Office of Refugee Resettlement • Must have Refugee or Asylee immigration status and meet other eligibility guidelines • $1 matched for every $1 saved/maximum of $2,000 grant • Save $2,000 and receive a grant for $2,000 = $4,000

14. IDA Application Process • Determine eligibility Meet with ECDI Staff • General application and fee Complete and turn in IDA application with $25 fee • Attend require training Financial Literacy and Get Your Business Up & Running • Funds for business use only Inventory or equipment

15. Other IDA Assets ECDI also offers IDAs for down payment assistance for first time home buyers and post-secondary education assistance as well as limited IDAs for home repairs and automobiles. Please contact IDA staff for additional information.

16. PROGRAM 3: Small Business Academy

17. Small Business Academy Training and Education • Designed to provide knowledge and guidance for the successful development and management of a small business • Taught by professional trainers and small business experts (accountants, business advisors, etc.) • Ongoing pre-requisite and elective training

18. Small Business Academy Get Your Business Up and Running 101 • REQUIRED – for Loan and IDA applicants- cost $100 • 3-week overview of business ownership - Program includes 12 hours class time and up to 12 hours of mentoring assistance: • Developing your business concept • Preparing your loan request • Business plan review • Mentoring sessions

19. Small Business Academy Elective Training • Beginning and Advanced QuickBooks • Putting your Biz Plan to Work • Bringing your Product to Market • HR Boot Camp • Marketing Plan Boot Camp • Bringing on Investors • Social Media Boot Camp • Sales for Non-Salespeople

20. PROGRAM 4: Small Business Loan Program

21. Small Business Loan Program Small Business Loans: • Loans up to $100,000 to start-up or expand your business • Can be used for inventory, equipment, or working capital. • Do not fund build-out or real estate Eligibility • Must be a for-profit business • Must demonstrate ability to repay the loan • Subject to ECDI loan approval and credit policy

22. Application Requirements • 10% cash injection for existing business • 15% cash injection for start-up • Collateral • Personal guarantee • Good Credit Score • Business Acumen

23. Loan Terms • Max. loan amount is $100,000 • Max. loan term is 5 years/60 months • Payment due by ACH • Fixed interest rate: between 7.25 and 12% • Closing fees: 5% of loan amount • Funds may be disbursed at multiple closings • Additional fees: $100 for SBA loans due annually • No prepayment penalty

24. Loan Application Process • Attend an information session • Complete and turn in general application with non-refundable $25.00 application fee • Attend required training program • Develop effective business plan • Complete loan application and backup documents and submit loan request • Loan review may take 4-6 weeks

25. Loan Application Follow-Up If approved • Receive commitment letter with terms and stipulations • Loan will fund within three weeks • Attend post-loan training If not approved • Receive list of items to work on in order to reapply • Meet with ECDI staff to create plan to correct or resolve issues • Correct items • Reapply

26. PROGRAM 5: Food Fort www.thefoodfort.com

27. Food Fort The Food Fort is a subsidiary of ECDI which means all of ECDI’s other services are available to its members and clients. This includes: • Access to capital through loans and grants • Training classes • Mentoring • Children’s Health Insurance Enrollment

28. Food Fort ECDI is home to many of Columbus’ mobile food vendors and caterers. Food Fort programming includes: • Daily and long term Food Cart rentals • Storage space for businesses with their own carts or trucks • A new commercial kitchen and bakery available for rent on an hourly basis • Knowledgeable staff

29. Food Fort Facility Facility Provides: • 24/7 access with client security cards • State-of-the-art alarm system • Video monitoring inside and outside • Dry storage and refrigeration for food truck and cart members and kitchen and bakery mini anchors Staff Provides: • Assistance with permits and licensing • Assistance with test markets to sample products • Assistance locating local businesses to market your product • Training to help with success of your company

30. PROGRAM 6: Celebrate Local www.celebratelocalohio.com

31. Celebrate Local Collaboration between ECDI, Global Gallery, and Easton Community Foundation • At Easton • Features all locally-produced products • Consignment model • Staff offer marketing and other retail-focused assistance • Voted ‘Best New Store’ in Columbus Alive

32. PROGRAM 7: Children’s Health Insurance Enrollment

33. Children’s Health Insurance Enrollment Small business owners are often unable to provide health insurance for their family members or employees’ families. ECDI can help income eligible families enroll in Healthy Start/ Healthy Families, no-cost health insurance. Program covers pregnant women and children under the age of 19.

34. Children’s Health Insurance Enrollment Children and teens of entrepreneurs and their employees could be covered by Healthy Start/Healthy Families no-cost health insurance. • Eligibility based on age and household income (see above) • Covers prescriptions, dental care, doctor visits, transportation, vision care, and more. • ECDI staff can help you apply, learn what verifications you need, and submit your paperwork to the County

35. PROGRAM 8: The Women’s Business Center of Ohio

36. Women’s Business Center Grand Opening February 2013 • Includes resource library, computer lab, free wireless access • Business Coaching/Mentoring/One-on-One Counseling • Training and workshop programs • Group Sessions • Partnerships with other Women Organizations

37. NEXT STEPS

38. Ready To Get Started? Next steps: • Turn in general survey – mark programs of interest on the form • Write any questions/issues/concerns on the general survey and client services will follow up • Complete and turn in general application with $25 non-refundable fee • Schedule meeting with ECDI staff • Sign-up and attend GYBUAR (loan and IDA programs)