Quick Reference  |  Summary

Community Development Corporation Economic Development Program

Purpose

To support the creation of jobs and community and economic development in underserved communities and neighborhoods across Ohio.

Program

The program has two sub-programs, the Microenterprise Business Development Program and the Community Development Finance Fund Program. The Microenterprise program funds nonprofit Community Development Corporations (CDCs) to help develop Microenterprise businesses (under 5 employees). The Finance Fund program supports pre-development costs for affordable housing or economic development projects, provides economic development grants to assist with fixed-asset investment and helps to reduce borrowing costs for affordable housing projects.

For Whom

Eligible Community Development Corporations apply to the Ohio CDC Association or Finance Fund for the applicable program.

How Much

About $600,000 is available annually through the Microenterprise Business Development Program and $1.3 million is available through the Community Development Finance Fund.

Related Assistance

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