ECDI Knight Foundation Award Helps Akron Entrepreneurs Expand Their Businesses

For immediate release:

COLUMBUS, OH - The John S. and James L. Knight Foundation announced today that the Economic & Community Development Institute (ECDI) will receive $250,000 in new funding for their Akron Office which opened in November 2014. This new grant, awarded to ECDI, is being used to expand economic opportunity, provide training and technical assistance to qualified entrepreneurs, and to accelerate ECDI's small business lending program.

ECDI is one of the nation's largest SBA approved micro-lenders, with a mission

to invest in people to create measurable and enduring social and economic change. ECDI has assisted over 2,250 business owners and created or retained 4,500 jobs via its' comprehensive suite of programs available through offices in Columbus, Cleveland, Akron and Toledo. ECDI's programs and services have been supported by over $40 million in federal, state, local and private funds and have increased access to assets and spurred local economic development.

"Small enterprises are essential to attracting and retaining talent in the city. ECDI offers a platform for more entrepreneurs to receive much needed loan capital and technical assistance. The Knight Foundation is pleased to support these endeavors in Akron," said Kyle Kutuchief, Interim Program Director for the Knight Foundation.

The Akron office, located in the historic Andrew Jackson House, represents one aspect of ECDI's current growth. "Akron represents a cross-section of what makes Ohio great, filled with innovative and hardworking entrepreneurs who share our vision for a diverse and vibrant local economy. ECDI is grateful for support from the Knight Foundation. With this funding ECDI will focus on bringing tools and access to capital to this important region," said Inna Kinney, Founder & CEO, ECDI.

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--The Economic & Community Development Institute is a Columbus, Ohio-based 501(c)(3) non-profit economic development organization founded in 2004. As the 3rd largest micro-lender in the country, ECDI's mission is to invest in people to create measurable and enduring social and economic change. We have assisted over 2,250 business owners and created or retained 4,500 jobs via our comprehensive suite of programs available through our offices in Columbus, Cleveland, Akron and Toledo, Ohio. Our programs and services have been supported by over $40 million in federal, state, local and private funds and have proven to create jobs, increase access to assets and spur local economic development. How do we do this? We educate, invest, and innovate with the businesses and people we inspire.--