Construction Loans

You have a contract.

We have capital. 

Let's build something together.

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ECDI is here to help you build your business and a brighter future for all minority-owned subcontractors. Through our Capital for Construction Program, we provide technical assistance, financing, and procurement opportunities. 

What is the Capital for Construction Loan? 

Your situation isn't typical. Neither are our loans.

Specifically created for minority subcontractors, our new Capital for Construction Loan finances labor and materials for a specific job - allowing you to take on more projects and larger contracts sooner. These short-term, low-interest loans are available to Ohio businesses. 

Loans range between $5,000 and $150,000.

ECDI can mobilize up to the three contracts at a time. 

Applicants may borrow up to 50% of each contract value.

Funds may be used for payroll, insurance costs, vendors, subcontractors, materials, suppliers, and/or equipment costs for a project with a public or private commercial entity. Funds may not be used for any other purpose but the aforementioned. 

What are the Capital for Construction qualifications for approval?

If you don't think you'll qualify, you're exactly who we want to apply. In the spirit of ECDI's "never say no", we don't let credit score or collateral get in the way. We need to know that you own a Central Ohio business and have a contract. It's just that simple. 

What collateral is required for a Capital for Construction Loan? 

No property. No inventory. No blanket liens.

We just need proof of a contract in the form of a Joint Payment Authorization (JPA) signed by yourself, ECDI, and the third party. 

Do I need an MBE (Minority Business Enterprise certification)?

Yes. If you don't have one, ECDI can help!