How CDFIs Prepare Small Businesses for Financing - Ohio Statewide Development Corporation Small businesses are the backbone of our economy, but accessing the right financial support can be a daunting task. Entrepreneurs often face roadblocks when trying to secure funding, especially if the...

Let's work together to invest in Ohio's CDFIs and give them the support they need to continue their mission-oriented work.

Eliminating the CDFI Fund restricts resources to active CDFIs and eliminates the opportunity for new ones to be created. In also increases the cost of capital for CDFIs, which will be passed on to the small businesses, making it even more expensive to start a business or access a loan.

In their 30-year history, CDFIs have expanded financial resources for entrepreneurs, giving them a different choice than venture capital or family resources. They created the pipeline of healthy small businesses I see everyday and are responsible for some of the most impactful job creators I know.

For those of us in economic development, we can likely name 10 CDFIs without trying very hard. But the reality is, most of the small businesses and bankers I work with have never heard of them or are aware of their outsized contributions to our communities.

NEW: DOGE has requested and is being granted “access to all SBA systems,” per an email sent to Small Business Admin employees today. Edward Coristine, a DOGE official, held a call with SBA staff detailing level of access they wanted, including HR, contract and payment systems

It will be a collective effort to share resources and information as we work towards and economy that supports a strong Ohio.

We’re working on ways to help small businesses manage this risk, especially for those that are nervous about how the new trade rules may impact their day to day revenue and long term ability to employ their people and pay their bills.

Ohio’s small businesses rely heavily on Canadian businesses to drive revenue and create jobs. Our biggest exports are manufacturing and transportation. More than 90% of the businesses in those sectors are small businesses.

Stats here: connect2canada.com/wp-content/f...

Ohio exports more to Canada than we import. In fact, we’re one of their largest trade partners.

The proposed tariffs will be felt more in Ohio than many other states, and disproportionately impact our small businesses.

I bought this book on your recommendation, and it’s really wonderful. Thank you!

Menu prices are rising, but why? Here’s a helpful explanation from Columbus Business First about how complicated the situation is. I’m honored to be included to discuss the costs of #smallbiz loans, and how OSDC can help.

Plus swoon worthy photos of our favorite dishes: tinyurl.com/3uujy364

Do you track data about private capital moving through businesses in RICs? I think that could be a helpful point to show how RICs are building markets and economies, not just providing TA.

Very honored to be included in this starter pack that includes several incredible folks that you should follow ⬇️

Agreed!

Kelly Loeffler picked to serve as small business administrator She is the current co-chair of Trump’s second inaugural committee.

My early take is that this pick is likely ok for the SBA’s lending programs. Both 7a and 504 loans rely heavily on private capital and help banks lend more than they otherwise could conventionally. Her Senate voting record shows support for the SBA and many COVID-era #smallbiz relief programs.

The worst ever

Mine too. They were concerned that it was a bad thing and our family was doing something wrong. The viciousness of the attack ads played on tv during family programming and sports games was really distressing.

Honored to be included in this Starter Pack. Lots of smart people here ⤵️

We went from 0-60 in 6 days! Who else should we include in our community. Tag them here!

go.bsky.app/LQonoaE

Here you go!

go.bsky.app/LQonoaE

Me!

I’m tuning in to this discussion today and invite you to do the same.

Woohoo! Excited to be in my first Starter Pack! Thank you @katiebkramer.bsky.social !!

I added you to the economic development starter pack!

go.bsky.app/LQonoaE

Lots of smart people working on evidence-based tax policy ⤵️

We’re building an awesome community. Keep going!

180/ From @katiebkramer.bsky.social comes a starter pack on US Economic Development

bsky.app/profile/kati...

It is very sweet watching people find each other here who haven’t spoken in a long time since our previous platform was irrevocably broken. For all its faults Twitter really was a community.

Oh, that’s one of my favorite topics!

First post and there’s a typo. Some things aren’t different here!