About this programme
The Economic & Community Development Institute (ECDI) is one of the top SBA intermediary microlenders in the US, combining accessible lending with training, advising, and resources for small business owners. It runs several loan products under one umbrella, including the Catalyst Fund, a statewide Loan Participation Program, the Toledo Business Growth Fund, the Cleveland Heights Loan Fund, the Sam Baker Hebrew Free Loan (up to $15,000), a USDA loan program for rural-certified areas, Community Advantage (7A) growth financing, start-up loan readiness support, and a Veteran Loan Program.
ECDI's loans exist to fill the gap for small businesses that cannot access conventional bank financing, pairing capital with ongoing training and coaching.
How it works
Loan amounts scale with business maturity: businesses operating for 1 or more years can borrow up to $50,000 for growth (as of 2025), while early-stage businesses can borrow up to $30,000 for working capital. The average loan size across ECDI's portfolio is about $21,000. Larger project financing is available beyond these figures.
Interest rates are comparable to market and SBA averages, repayment terms run up to 120 months, and closing costs are capped at 5%. There is a $25 application fee per applicant.
Approved borrowers must sign a personal guarantee, provide collateral or an equity injection, complete required training, and submit ongoing business and job-creation reports. Funds can be used for working capital, equipment, inventory, or construction.
Who can apply
There is no credit check before you talk to a Relationship Manager; a credit check only happens once you submit the formal application. A business plan demonstrating the ability to repay the loan is required, unless the business has operated successfully for 2 or more years, in which case the requirement may be waived. Free advising is available to help build the plan.
Ineligible applicants include nonprofits, real estate acquisitions, and individuals or businesses that have defaulted on a federal loan or been convicted of certain financial crimes.
Every partner holding 20% or more ownership in the business must apply separately.
How to apply
- Submit a loan inquiry through ECDI's online form; a Relationship Manager will contact you to discuss eligibility.
- Attend the recommended Virtual Orientation Session, which you can sign up for during the inquiry.
- Prepare a business plan that demonstrates your ability to repay the loan.
- Complete the formal application, pay the $25 fee, and have every 20%-plus owner apply separately, using ECDI's application checklist for required documents.
- Meet the approval requirements: collateral or equity injection, personal guarantee, required training, and ongoing reporting commitments.
- Receive funding, plus ongoing free or low-cost training, coaching, and resources.
Documents you’ll typically need
- Business plan demonstrating repayment ability
- Completed loan application (per ECDI's application checklist)
- Voided business check in the company name
- Collateral or equity injection documentation
Frequently asked
How much can I borrow from ECDI?
Up to $50,000 for an established business operating a year or more, or up to $30,000 for an early-stage business, with an average loan size around $21,000. Larger project financing is available separately.
Do I need good credit to apply?
There is no credit check until you complete the formal application, which happens after an initial conversation with a Relationship Manager.
Is a business plan mandatory?
Yes, unless your business has operated successfully for 2 or more years, in which case the requirement may be waived. ECDI offers free advising to help you build one.
What does it cost to apply?
There is a $25 application fee per applicant, and closing costs are capped at 5%.
Who can't get an ECDI loan?
Nonprofits, real estate acquisitions, and applicants who have defaulted on a federal loan or been convicted of certain financial crimes are ineligible.
More funding in Ohio
Innovation Ohio Loan Fund (IOF Loan)
JobsOhio · Ohio
Loans of $500,000 to $1.5 million, covering up to 75% of project costs, for Ohio companies with two-plus years selling a proven product.
JobsOhio Small Business Grant
JobsOhio (via regional network partners) · Ohio
JobsOhio's small-business capital grant for fixed-asset investment, equipment, and training, delivered through regional development partners rather than a direct state application.
JobsOhio Ventures
JobsOhio · Ohio
JobsOhio co-invests alongside a qualified lead investor in Series A and later rounds for Ohio healthcare and enterprise-tech companies.
Minority Business Direct Loan Program
Minority Business Development Division, Ohio Department of Development · Ohio
Fixed 1.5% loans up to $1.5 million for certified minority-owned Ohio businesses, three years or older, buying equipment or real estate.
R1 Capital (Rev1 Ventures)
Rev1 Ventures / R1 Capital · Ohio
Equity checks of $250,000 to over $1 million for pre-seed and seed startups, mainly in Columbus, building software or life-science products.
TechGROWTH Ohio
TechGROWTH Ohio (Ohio University) · Ohio
Seed-stage investment and venture development services for tech startups in Ohio University's 19-county southeastern Ohio service area.
Reviewed 2026-09-25. Programmes change, so check eligibility, amounts and deadlines on the official page before you apply. CapEasy is a private firm and is not part of any government body.