Community
Development Financing
The Compact is a U.S. Department of
Treasury-certified Community Development Financial
Institution (“CDFI”). We lend money to new and existing
businesses that bring jobs, goods and services, or add to
the commercial tax base.
We
offer financing for a variety of small businesses,
ranging from start-up retail businesses, to existing
businesses that need additional credit to grow. We also
offer commercial real estate loans as gap financing.
Our loan portfolio now has $3.8 million in outstanding
principal, from 45 borrowers. Our borrowers can expect
confidentiality about their business plans and the
highest level of professionalism, as we work to
stimulate the business environment in our central city
neighborhoods and along our business corridors.
Funds are
limited, and are available on a first-come, first-served
basis, following submission of all required application
materials and underwriting documentation.
Priority
funds are available to stimulate retail and arts-oriented
businesses in the
King Lincoln District.
Commercial Loan Program
The Columbus Compact Commercial Loan Program provides
financing to assist in both the expansion of existing EZ
businesses and the relocation of other businesses to within
the EZ. It also provides financing for the purchase of real
estate within the EZ.
Preferred use of funds includes the purchase of rolling
stock and other equipment needed for business expansion in
addition to the purchase of land. Loans may also be used on
a limited basis to refinance high interest debt to improve
cash flow; working capital (to be capped at 20% of total
loan package value).
Click
here
for more information or contact:
Michael Whitfield
Manager of Economic Development
Phone: 614-251-0926 ext. 111
Email:
mwhitfield@colscompact.com
King-Lincoln District
Retail Development
The
King-Lincoln District (KLD) Retail Development
Program offers EZ financial resources to interested entrepreneurs and
experienced retail managers interested in owning a small retail business on the
commercial corridors in the King Lincoln District.
This program will benefit the Empowerment Zone by redeveloping idle property,
adding new businesses and services, and providing business ownership
opportunities for residents.
This program, geared to small and start-up
businesses, is designed for the Compact to take the majority of the business
investment risk, in partnership with a business operator who will provide sound
management and operation of the retail business.
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King-Lincoln District Retail Development Program Announcement
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King-Lincoln District Retail Development Application
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City of Columbus
King-Lincoln District Plan
For more information on the King-Lincoln District Retail Development Program,
please contact:
Michael Whitfield
Manager of Economic Development
Phone: 614-251-0926 ext. 111
Email:
mwhitfield@colscompact.com
The
King-Lincoln Bronzville neighborhood is located on the near east
side of Columbus. This area is bounded by Jefferson Avenue
(W), Ohio Avenue (E), Broad Street (S) and Atcheson Street (N).
Click on the map for a larger picture.
Map
credit: City of Columbus, Dept. of Development, Planning
Division
Columbus Compact
Corporation current
and past borrowers
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Abundant Effect Barber Shop
Accurate Auto Center, Inc.
Aluko Manufacturing Solutions, Inc.
Alpha Investments
Art's Locksmith Service
BOTT Transportation Properties, LLC.
Celestial Awakenings
Central Community House
Chef Butcher's Creole Kitchen
CHP - Barnett
CHP - Byrd
CHP - Lewis
CHP- Rose-Anderson
Circle Journey, LTD.
Columbus Urban Growth
D & S Management, LLC.
Douglas Development, LLC
Dr. David Gill Optometrist & Associates
Drains & Pipes
E.E. Ward Moving & Storage Company
Gallarie Les Beaux Arts
General Theming Contractors, LLC.
Greater Linden Development Corporation
Haiku Restaurant
JDS
Jeffrey, LLC |
John James Estes & Associates, Inc.
Kibibi's Art Gallery
Mercury Keller
Middleton Printing Company, Inc.
Mukha Custom Cosmetics, Inc.
NHCHDO
NHI Unlimited
Ohio Capital Corporation
Olde Maine, LLC.
Olecole Company, Inc.
ProTeam Resources
R & M Foods, Ltd.
Sparrow Cleaning
Stenson Powell Development
Strictly Business
Surly Girls, Ltd.
Sync Consulting Group, Inc.
Take 2 Apparel
Taylor Homes Residential I, LLC.
Urban Chefs
Watermark Services, LLC.
X-Quizit Studio
YouthBuild Columbus Community School
Zen Cha Tea Salon |
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Required Materials for
all Loan Applications
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Personal Credit Report Authorization
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Personal Finance Statement
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Treatment of Nonpublic Information
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