Micro-lender helps small Toledo businesses - News, Weather, Sports, Toledo, OH

Micro-lender helps small Toledo businesses

Anneliese Grytafey, manager of ECDI Toledo Anneliese Grytafey, manager of ECDI Toledo
TOLEDO, OH (Toledo News Now) -

A non-profit micro-lending organization is now open for business in Toledo, with the goal of helping small businesses to create new jobs.

ECDI, the Economic and Community Development Institute, was founded in Columbus in 2004, and now has an office open in Toledo. Efforts are already underway to link small businesses to new capital opportunities.

"We know there's a great need for small business capital in Toledo," said Anneliese Grytafey, manager of ECDI Toledo. "There was a study completed that showed we have a $15 million lending gap in the central city neighborhoods. We know all around the region, banks just aren't lending those smaller amounts of money."

The group recently opened an office in Cleveland.

The programs and services provided by ECDI are supported by federal, state, local and private funds. The group is targeting companies in the food service industry, local contractors and other small businesses which are looking for opportunities to obtain new capital to expand operations and hire more employees.  

Copyright 2013 Toledo News Now. All rights reserved.

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