Faces of Small
Business
Impact Report
Fiscal Year 2016
July 1, 2015-June 30, 2016
Celebrating our Growth
Entrepreneurship is a powerful
force. We’ve witnessed it firsthand over
the past twelve years through the clients
we serve. Many turn to it as a necessity,
while others pursue it as a lifelong
dream. The opportunity to take the reins
and carve out a path unique for oneself,
creating long-lasting financial freedom
through tireless work and dedication, is
an exceptional feat. And the resulting
success and impact is illustrated through
the stories of the small business owners
we serve daily.
Over these past twelve years,
ECDI has left its footprint on Ohio’s
economy. What started as an idea
based out of a small basement office
in Columbus has evolved into the
third largest US SBA micro-lender
intermediary in the country, serving all
88 Ohio counties. We’ve assisted over
8,500 individuals through work that not
only inspires us to work harder as social
innovators, but also motivates our clients
to aim higher with their entrepreneurial aspirations.
We are beholden to those who’ve supported our mission -- investing in people to create
measurable and enduring social and economic change -- but the work doesn’t end there. We continue to
explore new growth opportunities to alleviate the financial burden of countless individuals across the state.
We will continue to perform our due diligence to meet the needs of all of our clients, remaining adaptable
to the ever-changing small business climate. But now, we reflect on past successes as we strive to create
new ones in the future.
ECDI Overview
ECDI is the third largest US Small Business Administration intermediary micro-lender (and largest in
Ohio). It is also the largest US Treasury designated Community Development Financial Institution
(CDFI) in the State with a small business focus. Since inception in 2004, ECDI has assisted over 8,500
individuals, disbursed over $33 million through over 1,600 loans, and created and retained over 6,200
jobs via our comprehensive suite of programs. Programs and services have been supported by over $55
million in federal, state, local and private funds and have proven to spur local economic development.
ECDI STATS
Indicators:
$ disbursed
# of loans disbursed
Jobs created
Jobs retained
Individuals assisted
Since 2004:
$33,169,060
1,604
3,468
2,798
8,560
FY 2016:
$7,576,070
321
524
733
1,150
Table of Contents
Lending
3
- Discount Tire Transport, Columbus; Nepali Kitchen, Akron
Training & Technical Assistance
5
- Replenish: The Spa Co-op, Columbus
Food-Based Business Training
7
- Clark Pope Catering & Pope’s Kitchen, Cleveland
Food Fort
Onward and upward,
ECDI
8
- Tradition’s Event Catering, Columbus
Home Repair
9
- Dash Construction and Management, Columbus
Women’s Business Center of Ohio
Inna Kinney
Founder & CEO, ECDI
1
Steve Fireman
President & General Counsel, ECDI
11
- Tohni Bekka, Columbus; Fear’s Confections, Cleveland
2
LENDING
INVEST
The goal of ECDI is to assist in the establishment, stabilization, or expansion of small businesses by
combining business training and technical assistance with access to capital. As one of the largest US
Small Business Administration microlenders in the country and a US Treasury designated Community
Development Financial Institution, ECDI provides loans of up to $350,000 to Ohio small business
owners that don’t qualify for a conventional bank loan.
Discount Tire Transport
Mukhlid Shaikhil came to America in search of
a better life. Though a talented civil engineer in Iraq,
a stagnant economy led him to Jordan in 2000, where
he worked as an electronics technician. Later he
moved to Columbus, Ohio, opening his own business
in hopes of carving out a new way of life in America.
Shaikhil recalls the around-the-clock hours worked
when they first opened. In the mornings and
afternoons, his staff would serve customers, lugging
around massive tires and making sure clients left
satisfied. Their efforts eventually paid off, and though
they were in a position to expand, they needed
financing. Unfortunately, they were declined by
traditional lenders. However, help was right around
the corner.
A friend had told Shaikhil about ECDI and he
was put in contact with an ECDI Relationship Manager
who specializes in assisting immigrant and refugee
clients.
Shaikhil eventually received a $50,000
loan to expand his business. The growing demand
allowed for Shaikhil to open multiple branches of
Discount Tire Transport. Now, Shaikhil’s inventory
is so impressive that he has had regular requests to
ship tires as far as Texas and his business has created
jobs for over 15 individuals in Columbus. Signs of
additional growth are on the horizon.
3
Nepali Kitchen
Something good is always cooking at Nepali Kitchen, Akron’s popular Nepalese restaurant. True
Nepalese cuisine is hard to come by, but a trip to the North Hill neighborhood rewards visitors with a wide
variety of traditional dishes, including Momo, an artisanal meat dumpling, and creamy mango lassi, a sweet
beverage that’s perfect for cooling off on hot summer days.
The restaurant was opened by a dynamic pair of entrepreneurs, Hem Rai and Mon Phuyel. Nepalese
refugees, Rai and Phuyel have accomplished their dream of serving up savory fare while creating a warm
gathering space for both the refugee and local community.
Rai and Phuyel are now in the process of implementing a new endeavor -- opening a bar at a nearby
location. To bring this to fruition, acting fast has been essential. They knew if they did not provide earnest
money and a security deposit quickly, someone else might purchase the property.
That’s when they found ECDI. After submitting an application for a $2,500 “quick loan” for their
business, they were approved, and received funding in less than two weeks. Since then, Rai and Phuyel
have taken out an additionl $26,010 with ECDI to get Nepali Bar up and running. Future plans include
hosting billiards tournaments, opening a second Nepali Kitchen near the University of Akron campus, and
continuing to create jobs and enhance the local economy.
LENDING STATS FY 2016
321
$7,576,070
$23,601
Minorities
Low-to-moderate income
Women
61%
55%
43%
4
TRAINING & TECHNICAL ASSISTANCE
EDUCATE
ECDI provides business training and ongoing technical assistance to clients. Entrepreneurial
training covers a wide range of topics -- from introductory courses for entry-level entrepreneurs,
niche topics typically requested by ECDI’s client base, to a higher level, detail-specific course titled
Small Enterprise Education Development Training (SEED). SEED is designed for entrepreneurs who
are ready to enhance their business idea or expand an existing small enterprise into a viable and
profitable business. SEED participants focus on four critical developmental areas -- business concept,
organization, customer relations and operations -- and walk away with a thorough business plan.
Replenish: The Spa Co-op
TRAINING & TECHNICAL ASSISTANCE (TA) STATS FY 2016
5
141
111
11,771 hours
Listening to Deja Redman speak about her business, it is difficult to imagine a time when she was
not running a spa with her sister and mother. As she sips her tea, she tells us, “It’s our purpose to do this
together as a family-owned business.”
History is important to the trio – on the second floor, you can find photos of the strong, influential
women in their family. In turn, there is a long history behind their business success. As Deja says, it was not
long ago that they were “hopping on one leg,” working hard to get their dream off the ground.
In the early days, Replenish was nothing more than an idea formed between two sisters and their
mother. Now, it has grown into an enterprise offering a wide assortment of massages, facial exfoliations,
acupunctures, donation-based yoga services, and a treasure trove of local products, such as all-natural
soaps and candles.
According to Deja, two of the most important skills an entrepreneur can possess are faith and
patience. “In business, you often want to be here, and you want to skip all the steps,” she tells us. “If you
want a business that is going to be rooted and grounded and steady, it takes patience.”
Replenish has received financial and educational resources from ECDI. “What I love about ECDI is that they
speak in laymen terms, but also know bank language. That’s important – they break it down for you. It
provides a resource… there is so much more available than just going there and receiving funding.”
Once ECDI helped Replenish receive loan capital, they took advantage of the business training
offered through ECDI’s Women’s Business Center of Ohio. They secured minority and women-owned
business certifications, allowing their business to take off and enabling the trio to continue their passion
for service. Their mission of “redefining beauty for women” spurs them to work hard and put in long
hours. As Deja so eloquently states, “What we’re doing is beyond putting on polish for women. Confidence
is everything. We want to build people up so they feel empowered to live their best lives.”
Their efforts seem to be working. Deja says that occasionally clients “cry before they leave because
they’re so happy that they feel loved, supported and cared for. To me, that’s the best part.” Visiting
Replenish, one is reminded that entrepreneurship is much more than just a way to make ends meet – it is
an art form, mastered with sufficient patience and dedication to allow dreams to bloom.
6
Food-based business Training
ECDI provides food-based business training programs designed to increase the success rate of local
food businesses in Northeast Ohio. By providing extensive training on food business related topics
such as distribution, pricing, food safety and others, clients walk away possessing an intermediate
understanding of how to operate their own food-based business. The program also offers opportunities
for collaboration between individuals, businesses, and other like-minded organizations that support
food-based entrepreneurship growth such as the Cleveland Culinary Launch & Kitchen (CCLK). These
connections allow clients to grow their businesses without significant startup investment.
Clark Pope Catering & Pope’s Kitchen
FOOD TRAINING STATS
FY 2016
# training participants
7
26
A special education teacher by trade,
Clark Pope was known by family and friends for
his cooking. After enough encouragement, Clark
researched the process of starting a business,
and soon discovered he needed access to a
licensed kitchen in order to scale and distribute
his products. Clark found the Cleveland Culinary
Launch & Kitchen, where he not only utilized its
facilities, but also enrolled in ECDI’s food-based
business training series, offered in concert with the
CCLK. Of the nine businesses that entered training,
seven have sustained success, and sure enough,
Pope’s Kitchen is one of them. With expertise
gained, there was only one missing ingredient –
financing. Pope needed working capital to grow
his business to its full potential and through
ECDI’s lending program, he received a $10,000
loan.
In 2013, Clark’s goal was to get his product
into two retailers’ inventories. He exceeded this
goal, with his products now sold in seven states!
Clark also caters events throughout Northeast
Ohio, and is known for his eclectic and innovative
creations, drawn from his wide breadth of study in
the field of world cuisine.
FOOD FORT
INNOVATE
ECDI’s Food Fort is a food-based business incubator in Columbus. Their mission is to
support local food entrepreneurs in the growth of their businesses. To this end, the Food
Fort offers licensed commissary space to mobile food vehicle owner-operators and
operates a state-of-the-art commercial kitchen. By offering ongoing business assistance,
procurement opportunities, food safety training and certification courses, and access to
valuable resources, the Food Fort is truly unique in the way it serves its members.
Traditions Event Catering
FOOD FORT STATS
FY 2016
# entrepreneurs served
80
# training participants
63
Capital deployed to FF clients $244,750
Melissa Jackson had been interested in
cooking for nearly 15 years. During this time,
she studied an assortment of techniques and gained
key skills, specializing in her favorite type of cuisine
-- traditional comfort food. Even before she owned
her own business, Traditions Event Catering, Jackson
put her skills to good use. She offered food to sick
and grieving family members, providing moments
of comfort and peace of mind in a time of need.
One day she was asked to cater a friend’s wedding.
Despite her tense nerves, the event was a success,
and resulted in additional engagements. These
events would host nearly 300 people, catered by
Jackson for free.
While researching development services
for food and beverage entrepreneurs in Columbus,
Melissa discovered the Food Fort, a collaborative
food-truck commissary and licensed commercial
kitchen. She toured the facility and was thrilled
to learn she could access an affordable, fullylicensed workspace for her business. She
signed up immediately, entering the world of
entrepreneurship in the process.
Melissa’s hard work has paid off. Her business
is growing, and she is seeking a license to open a
brick-and-mortar facility where she can spend more
of her time catering. With the help of ECDI’s Food
Fort facility and team, Melissa is worry-free and
able to focus on what she does best – serving others
and putting smiles on the faces of her customers.
8
HOME REPAIR
INNOVATE
ECDI’s Emergency Home Repair Program is dedicated to ensuring that our community’s elderly
and disabled individuals are able to comfortably age in place by coordinating with local licensed
contractors to complete repairs of substandard, hazardous, or unhealthy living conditions. Grant
funding allows ECDI to provide these essential repairs for low-income seniors at no cost to the client,
while simultaneously creating jobs for small, self-employed contractors.
Dash Construction and Management
ECDI’s Emergency Home Repair Program is an example of a leveraged and layered economic
and community development methodology, not predicated on investing capital. Seniors and disabled
residents in Central Ohio receive needed home repairs to address safety hazards, substandard features and
accessibility issues. These services preserve their dignity, comfort and independence, while also providing
contracting opportunities for local entrepreneurs.
“The work is steady with help from ECDI,” says Alex Dashkovsky, owner of Dash Construction and
Management, an ECDI-approved contractor. “It’s much easier… I don’t have to worry if I’m not on one job.
My guys are constantly out there and I can pull them away to do projects as they appear.”
Dashkovsky started his business in 2005, enrolling at Columbus State to study construction
management. Realizing he had a knack for the industry, he started his own company, which grew quickly
until the onset of the 2008 recession. However, when the housing market began to turn around, Dash
Construction and Management found its way with help from ECDI. Dashkovsky, now with eight employees,
found out that providing loans was not the only way ECDI serves small businesses. The organization is also
an innovator within the realms of business incubation and technical assistance.
In order to even begin contracting work with ECDI, Dashkovsky needed a general construction
license for home improvement. With the help of ECDI’s Home Repair Director, he became fullylicensed, allowing his business to once again flourish. Today, Dash Construction and Management
receives consistent job awards through ECDI to enhance the lives of Central Ohio’s elderly and disabled
populations. According to Dashkovsky:
“Most of what we do for ECDI is dealing with a lot of accessibility issues, making sure people can get
in and out of bathrooms. If they’re handicapped, putting in a
handicap toilet for them. In summer and winter, we do a lot
of heating and cooling calls. We walk into certain places and
people are on oxygen trying to survive when it’s hot and the
humidity is 100 percent. With those types of jobs, we drop
Since 2005:
everything and run because we know what is at stake. It’s not
# jobs completed
1,612
them being uncomfortable; it’s them being able to survive.
We do a lot of door replacements, fixing trip hazards and
Cost of repairs
$2,020,685
lighting…sometimes it’s simply the little things like having a
FY 2016:
grab bar in the bathroom so you can take a bath by yourself.”
# jobs completed
203
The work is rewarding. As ECDI finds pride in watching
Cost of repairs
$263,378
a business grow, Dashkovsky is warmed by the reactions of
those he serves.
HOME REPAIR STATS
9
10
WOMEN’S BUSINESS
CENTER OF OHIO
INNOVATE
The Women’s Business Center (WBC) of Ohio is the only SBA-funded Women’s Business Center in the
state. New and experienced women entrepreneurs access collaborative office space, a professional
lounge for networking, a computer lab with Internet access and copying/printing capabilities, and a
resource library. Staff and expert advisors provide foundational microenterprise training, in addition
to specialized one-on-one counseling within the areas of accounting, personal finance, marketing,
and legal matters, among others.
Tohni Bekka
In 2012, Jovanna Robinson, a graduate of the Columbus College of Art and Design, made the
decision to follow her passion and design her own brand of luxury handbags, Tohni Bekka. Three short years
later, demand for her products has soared, and Robinson’s advertisements are now visible in editions of
Vogue around the world.
Robinson had the desire, work ethic and skills as well as reactions of “shock, awe, and amazement”
when she told curious customers that the bags were of her own design and craftsmanship. Robinson knew
if she continued to improve her technique and worked at growing her business, she would inevitably
succeed. Of course, there were some roadblocks; Robinson soon discovered that even the most beautifully
crafted handbag doesn’t sell itself. Without proper branding and outreach, her works of art would continue
to sit on the shelves of her workshop.
In seeking help, Robinson consulted ECDI’s Women’s Business Center of Ohio, which linked her
with a marketing expert from its Professional
Advisory Network (PAN). Robinson’s PAN
advisor provided her with personalized
marketing assistance for her business, and all
costs were included with her WBC membership.
# jobs created/retained
106
With the expert advice of her advisor, Robinson
# WBC members
606
was able to develop and market her brand,
Capitalization to WBC members $1,241,800
not only gaining customers in her home city of
Columbus, but growing a much broader appeal.
# individuals received coaching 162
With orders for Tohni Bekka handbags
# businesses created
40
now pouring in from all across the globe,
# businesses expanded
36
Robinson has remained hard at work in her cozy
Columbus workshop. In her spare time, she has
committed to donating small clutch bags to young girls who are patients at Nationwide Children’s Hospital.
“The clutch bags come in fun, colorful prints filled with little goodies for precious little girls to play with
during their hospital stays, whether for a few days or the long haul,” she says.
With help from ECDI’s Women’s Business Center, Jovanna Robinson received the marketing
assistance needed to grow and prosper and was able to continue her passion for designing handcrafted,
quality handbags, while finding a way to give back to the community she holds dear to her heart.
WBC STATS FY 2016
11
12
Our Funders
Initially estabishing a single office in Columbus, ECDI recognized the need to extend WBC services to
support female entrepreneuers in other regions of Ohio. Now, with an additional office established in
Cleveland, The WBC extends its service footprint to additionally serve members in the Akron,
Toledo, and Cincinnati areas.
Fear’s Confections
After being laid off from her job as a fiber optics engineer, Cassandra Fear spent much time
doing three things – submitting job applications, baking, and watching the Food Network. One day
she saw a show that featured two women who started an in-home brownie business that became a
nationally known brand. An autodidact at heart, she was inspired to learn to do the same. Fear began
to experiment in the confines her own kitchen, making delicious treats for friends and family.
Soon enough, Fear began to expand her networks, with her products available in two local
shops. One of the storeowners was looking to open a new business venture and offered Fear an
opportunity to run the operations and sell her
own product.
Fear settled herself firmly in a new and
interesting market of her own design – desserts
for geeks. She is particularly famous for her treats
that involve the nerdier elements of pop culture.
It is not uncommon to see lines out the door for
her Star Wars inspired chocolates, chocolate chess
sets and twenty-sided dice. So delicious are her
creations, that world-famous chef and television
star Alton Brown rated Cassandra’s shop as one of
his favorite stops on his 2014 tour.
After a few months of successful operations,
Fear sought marketing and small business
support to help with expansion. ECDI’s Women’s
Business Center (WBC) of Northern Ohio offered
just the support she needed. Through their
Coffee Connections, Fear got the word out about
her products, and engaged in partnerships with
other businesses across Northeast Ohio.
The women’s-centric environment of the WBC
makes this possible. Members engage with other
intelligent and well-connected individuals at
events or while working at the Center -- which
features a learning lab and office amenities,
allowing members to work in a collaborative and
creative environment, without the price of rent.
While the ride was a bumpy one, through
Fear’s talent and drive -- and with the support of
the WBC and a network of local entrepreneurs
-- she built her business into the Northeast Ohio
staple loved by many.
13
ECDI
Special thanks to our FY 2016 funders:
ECDI currently manages loan funds from 25
funders (and their 60 sub-funds):
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Accenture
Business of Good
Burton D. Morgan Foundation
Chase Bank
Citizens Bank
City of Avon Lake
City of Cleveland
City of Columbus
Cleveland Foundation
Columbus Foundation
Cuyahoga County
Fifth Third Bank
FirstMerit Bank
First Merchants Bank
Franklin County
Free Hand Fund
Huntington National Bank
Key Bank
The Knight Foundation
The Kresge Foundation
Local Initiatives Support Corporation
Lucas County
Lucas County Port Authority
The Mirolo Charitable Foundation
Ohio Development Services Agency
Ohio Community Development Corporation
O’Neill Foundation
PNC Foundation
The Surdna Foundation
The Stranahan Foundation
The Toledo Foundation
US Small Business Administration
United Way
US Bank
US Department of Agriculture
US Department of Health and Human Services Administration for Children and Families
- Office of Community Services
- Office of Refugee Resettlement
Women’s Fund of Central Ohio
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Business of Good
Community Development Financial Institution Fund
(US Department of Treasury)
Citizens Bank
City of Cleveland
City of Columbus
Columbus Foundation
Cuyahoga County
Founders Fund
Franklin County
Huntington National Bank
Invest Local Ohio
KeyBank
The Mirolo Charitable Foundation
Nationwide Bank
Ohio Development Services Agency
Opportunity Finance Network
PNC Bank
Samuel Adams Fund
Small Business Lending Fund (US Department
of Treasury)
US Bank
US Department of Agriculture
US Department of Health and Human Services Administration for Children and Families
- Office of Community Services
- Office of Refugee Resettlement
US Small Business Administration
14
ECDI Cleveland Office
ECDI Toledo FIELD Office
One Maritime Plz. #7
Toledo, OH 43604
419.243.8251
2800 Euclid Ave. Suite 620
Cleveland, OH 44115
216.912.5655
ECDI Akron Office
39 East Market St. Suite 504
Akron, OH 44308
234.334.6513
CINCINNATI FIELD Office
1224 Race Street
Cincinnati, OH 45202
513.721.7211
ECDI Columbus Headquarters
1655 Old Leonard Ave.
Columbus, OH 43219
614.559.0115
Proudly Serving
the State of Ohio
WWW.ECDI.ORG