NDC Community Impact Loan Fund launches new loan initiative in partnership with Cuyahoga County
“The Community Impact Loan Fund aims to give minority-owned businesses access to loans and aligns with our goal of improving the county’s economic development in innovative ways. I encourage our local small business community to take advantage of this special opportunity. – County Executive Budish
May 19, 2022
Small business owners can now apply for loans of up to $100,000 through the Community Impact Loan Fund-Cuyahoga County (CILFCC). The fund is a partnership with Cuyahoga County to help minority and women-owned small businesses grow with equipment purchases and working capital. The aim is to support businesses impacted by the disruptions of the COVID-19 pandemic.
“Cuyahoga County is very fortunate to have such a diverse grove of small businesses for residents and visitors. Unfortunately, some minority-owned businesses suffer from discrimination in lending practices and therefore cannot access capital to help their business grow and thrive,” said Cuyahoga County Executive Armond Budish. “The Community Impact Loan Fund aims to give minority-owned businesses access to loans and aligns with our goal of improving the county’s economic development in innovative ways. I encourage our local small business community to take advantage of this special opportunity.
Interested applicants should apply online at https://ndconline.org/cilf-loan/ and, if eligible, NDC will assist the business owner through the application process and provide business support throughout. throughout the term of the loan.
“NDC is thrilled with the launch of CILFCC and our 16+ year ongoing partnership with Cuyahoga County,” said Ann Finnegan, President of NDC Small Business Lending. “Cuyahoga County’s support has allowed NDC to create a unique loan program, through which we can become a true partner in the local economic development ecosystem and reach the small businesses that need us most.”
The county invests $600,000, which leverages an additional $810,000 from NDC.
For more information and to apply; visit https://ndconline.org/small-business-lending/cilfpcc/ or contact B. Fae Harris at [email protected]
Share the article on social networks or by e-mail: