May 24, 2022

StrategisChhr

Skillful Business Crafters

ECDI is largest Small Business Administration microlender in the U.S.

Columbus now has two of the top-performing Small Business Administration lenders in the country.

For four years in a row, Huntington Bancshares has been named the largest SBA lender in the U.S. And in late January, the Economic Community Development Institute (ECDI) became the nation’s largest SBA microlender.

Small businesses were in dire need of capital during the pandemic, and ECDI stepped up to fill the gap. In 2020, from April through December, the nonprofit distributed $16.9 million in loans. In 2021, the organization gave out 2,757 loans, worth $61.2 million.

“It’s a huge honor for us, but especially since COVID started,” said Inna Kinney, 59, of Bexley, who is the founder and CEO of ECDI. “We made a strategic effort to help small businesses because, historically, they are not able to get funding from traditional financial institutions.”

https://www.dispatch.com/story/business/2022/02/07/ecdi-largest-small-business-administration-microlender-u-s/9274742002/