Regional Economy
This weekend, take a historic walking tour of University Circle, support cancer research at the VeloSano Bike to Cure, compete for cash prizes at The American Institute of Architects sandcastle and volleyball competition, relax with Sunday yoga at Edgewater Beach and more.
Citizens Bank is giving the Economic Community Development Institute (ECDI) a $1 million line of credit to help finance loans to new and expanding businesses. ECDI provides loans between $500 and $350,000 to business owners and entrepreneurs trying to start or grow their businesses who might otherwise not be able to secure a loan.
ECDI's Cleveland office will receive the majority of the money, says Eric Diamond, executive vice president of ECDI Cleveland. “We will have a little more than 50 percent in this area because our loan volume is pretty high,” he says. “We expect to see a 30 percent increase in loan volume this year over last year.”
ECDI and Citizens have regularly worked together on securing loans for ECDI clients and have formed a good relationship, Diamond says . ECDI works with the SBA in addition to a variety of banks when funding a loan.
“Without us getting funding, we couldn’t fund other people,” says Diamond, adding that their average loan is about $25,000.
ECDI, which also has offices offices in Columbus, Toledo and Akron, is the fourth largest SBA micro-lender in the United States and a U.S. Treasury-designated Community Development Financial Institution (CDFI). Since the organization was started in Columbus in 2004, ECDI has assisted over 5,000 entrepreneurs, loaned over $25 million to over 1,200 businesses, and created and retained over 4,500 jobs across the state.
The Cleveland ECDI office alone has funded approximately $5.3 million to more than 130 businesses since it started in 2012. “Citizens really understands CDFIs and they’ve spent a lot of time with us,” says Diamond. “They really know business and they are a class act to work with.”
ECDI's Cleveland office will receive the majority of the money, says Eric Diamond, executive vice president of ECDI Cleveland. “We will have a little more than 50 percent in this area because our loan volume is pretty high,” he says. “We expect to see a 30 percent increase in loan volume this year over last year.”
ECDI and Citizens have regularly worked together on securing loans for ECDI clients and have formed a good relationship, Diamond says . ECDI works with the SBA in addition to a variety of banks when funding a loan.
“Without us getting funding, we couldn’t fund other people,” says Diamond, adding that their average loan is about $25,000.
ECDI, which also has offices offices in Columbus, Toledo and Akron, is the fourth largest SBA micro-lender in the United States and a U.S. Treasury-designated Community Development Financial Institution (CDFI). Since the organization was started in Columbus in 2004, ECDI has assisted over 5,000 entrepreneurs, loaned over $25 million to over 1,200 businesses, and created and retained over 4,500 jobs across the state.
The Cleveland ECDI office alone has funded approximately $5.3 million to more than 130 businesses since it started in 2012. “Citizens really understands CDFIs and they’ve spent a lot of time with us,” says Diamond. “They really know business and they are a class act to work with.”
Now in its 13th year, Cleveland Clinic's Medical Innovation Summit brings together inventors, investors and medical industry representatives to spur learning and collaboration.
This weekend, shop arts and crafts from all over the country at the Cain Park Arts Festival, attend a free swing dance under the Playhouse chandelier, check out the Cleveland Flea and more.
When Jason Minter has fond memories of his grandmother, Connie Pugh, and her fascination with PBS programming. “Every Sunday we would go to my grandma’s after church and she was always watching PBS,” he recalls. “She would say, ‘PBS brings all these cultures to me right in my living room.’ My grandmother never left the city.”
Years later, in 2012, Minter was in Castiglion Fiorentino, Italy as a teaching assistant with Texas A&M’s college of architecture study abroad program when he discovered affogatos – gelato topped with a shot of espresso. The experience reminded Minter of his grandmother’s travels via public television.
After duplicating the affogatos for some friends back home in Tremont, Minter was encouraged to start a business of it. He kept testing his recipe and attended Cleveland State’s Meet the Lenders program last summer, where he got additional encouragement, Minter started Connie’s Affogato.
Minter then decided to enter the Old Brooklyn business plan competition, and was one of three winners. “We approached the competition with the understanding that opening a bricks and mortar storefront would be unfeasible for Connie's Affogato at this point,” he explains. “Instead we proposed a new model for economic development with a substantially lower barrier to entry than existing models. The competition judges responded positively to our strategy.”
The mobile affogato shop will be equipped with a specially-made bicycle – complete with a freezer, stove and “storefront” – with help from Soulcraft Woodshop and CWRU’s ThinkBox. Espresso will be brewed on the bike, while he plans to get his ice cream from a local supplier.
Connie’s Affogato will serve Old Brooklyn, as well as area festivals and fairs. “The city of Cleveland is my canvas,” Minter says. “I see a Cleveland where people are spending a little less time in their homes and car and contributing to a vibrant street life.”
Minter plans to take growth one step at a time. He is on schedule to open May 1 next summer with just one mobile storefront, then grow accordingly. While he says it’s not necessary, his plan includes opening a bricks and mortar storefront in three years. “You got to let the market guide you,” he says.
Years later, in 2012, Minter was in Castiglion Fiorentino, Italy as a teaching assistant with Texas A&M’s college of architecture study abroad program when he discovered affogatos – gelato topped with a shot of espresso. The experience reminded Minter of his grandmother’s travels via public television.
After duplicating the affogatos for some friends back home in Tremont, Minter was encouraged to start a business of it. He kept testing his recipe and attended Cleveland State’s Meet the Lenders program last summer, where he got additional encouragement, Minter started Connie’s Affogato.
Minter then decided to enter the Old Brooklyn business plan competition, and was one of three winners. “We approached the competition with the understanding that opening a bricks and mortar storefront would be unfeasible for Connie's Affogato at this point,” he explains. “Instead we proposed a new model for economic development with a substantially lower barrier to entry than existing models. The competition judges responded positively to our strategy.”
The mobile affogato shop will be equipped with a specially-made bicycle – complete with a freezer, stove and “storefront” – with help from Soulcraft Woodshop and CWRU’s ThinkBox. Espresso will be brewed on the bike, while he plans to get his ice cream from a local supplier.
Connie’s Affogato will serve Old Brooklyn, as well as area festivals and fairs. “The city of Cleveland is my canvas,” Minter says. “I see a Cleveland where people are spending a little less time in their homes and car and contributing to a vibrant street life.”
Minter plans to take growth one step at a time. He is on schedule to open May 1 next summer with just one mobile storefront, then grow accordingly. While he says it’s not necessary, his plan includes opening a bricks and mortar storefront in three years. “You got to let the market guide you,” he says.
Mark Morrison and the cofounders of Windrush, which provides a web publishing tool for nonprofits, were looking to take their company to the next level.
Morrison suggested the company go on the road to his hometown of Cleveland and join the FlashStarts 2015 summer accelerator program. So in May, Morrison and his two partners did just that.
Windrush helps social impact organizations produce more than just a white paper while trying to get their messages across. Using data visualization tools, Windrush makes it easy to create interactive and vibrant materials, copy and data to engage readers.
Morrison, Max Walker and Riley Alsmann were friends at Skidmore College in Saratoga Springs, New York and about to graduate when they founded Windrush in 2013 based on a software development project Walker was working on for school.
Upon graduation, the Windrush team was looking to grow the company. “We were looking to enter an accelerator to help us grow,” Morrison says. “We applied all over the country and we were accepted to a few of them.”
Morrison, a native of Maple Heights and a graduate of St. Ignatius High School, urged the team to join FlashStarts’ accelerator program. “It was a great fit, plus Cleveland is like the origin of nonprofits,” he says. “We’re really young coming out of college and we wanted a relationship. We want to learn from our mistakes.”
FlashStarts gave Windrush an initial $25,000 investment and the company has set up shop in the FlashStarts offices, at least for the summer.
“Windrush was chosen for our accelerator because they have a product that will radically transform content marketing, journalism and the art of online storytelling,” says Grace Moenich, FlashStarts’ director of public relations. “Their platform allows organizations to easily showcase their data in beautiful and compelling ways -- a feat which would otherwise require an enormous amount of money to hire very rare talent. They solve a large and common problem for businesses.”
Windrush will also be eligible for follow-on funding when the 12-week program is over.
Morrison suggested the company go on the road to his hometown of Cleveland and join the FlashStarts 2015 summer accelerator program. So in May, Morrison and his two partners did just that.
Windrush helps social impact organizations produce more than just a white paper while trying to get their messages across. Using data visualization tools, Windrush makes it easy to create interactive and vibrant materials, copy and data to engage readers.
Morrison, Max Walker and Riley Alsmann were friends at Skidmore College in Saratoga Springs, New York and about to graduate when they founded Windrush in 2013 based on a software development project Walker was working on for school.
Upon graduation, the Windrush team was looking to grow the company. “We were looking to enter an accelerator to help us grow,” Morrison says. “We applied all over the country and we were accepted to a few of them.”
Morrison, a native of Maple Heights and a graduate of St. Ignatius High School, urged the team to join FlashStarts’ accelerator program. “It was a great fit, plus Cleveland is like the origin of nonprofits,” he says. “We’re really young coming out of college and we wanted a relationship. We want to learn from our mistakes.”
FlashStarts gave Windrush an initial $25,000 investment and the company has set up shop in the FlashStarts offices, at least for the summer.
“Windrush was chosen for our accelerator because they have a product that will radically transform content marketing, journalism and the art of online storytelling,” says Grace Moenich, FlashStarts’ director of public relations. “Their platform allows organizations to easily showcase their data in beautiful and compelling ways -- a feat which would otherwise require an enormous amount of money to hire very rare talent. They solve a large and common problem for businesses.”
Windrush will also be eligible for follow-on funding when the 12-week program is over.
Eric Duong, an entrepreneur born in Vietnam, opened the Asian Town Center with just three tenants in the midst of the recession. Yet today, the development houses 20 businesses with more on the way.
Leaders from Cleveland, Detroit, New Orleans and Durham are meeting this week in Detroit for a second of four meetings to discuss how to increase entrepreneurial activity and connectivity in distressed neighborhoods. The last meeting will occur in Cleveland in June 2016.
This weekend, feast on authentic Asian cuisine at the first-ever Night Market, celebrate LGBTQQA progress at Cleveland Pride, explore Waterloo Arts Fest, play free pinball in Coventry and more.
While there are thousands of software development jobs available in Northeast Ohio, skilled code wranglers are not so easy to find. Local firms are finding other means to find and keep new programmers.
JumpStart's inaugural Startup Scaleup offered talks, networking and resources in a day-long event at Gordon Square.
This weekend, enjoy the kickoff of WOW’s free summer concert series, view 30 bands on 30 porches at PorchFest and dust off your dancing shoes for free vinyl dance parties at Beachland and B Side.
Mel McGee has been a computer programmer and teacher for the past 20 years. Now, as CEO of We Can Code IT, McGee and community outreach director Shana Mysko are holding coding boot camps that are targeted at getting women and minorities careers in IT fields. The boot camps are held in their new offices at LaunchHouse.
“There will be one million unfilled jobs in IT by 2020,” explains McGee. “It’s a very in-demand industry and it continue to grow. Our whole economy is becoming IT based. There’s such a lack of diversity in IT. Employers would like to have more diversity.”
We Can Code IT held its first boot camp in March, and has partnered with several area employers, such as Hyland Software and OEConnection, to place its graduates in jobs. The next part-time coding boot camp starts this Saturday, June 20. The class meets Saturdays and Sundays from 8am-4pm for five months.
The cost of the program is $10,000, but women and minorities are eligible for a $1,000 grant. Starting with the upcoming session, We Can Code IT is testing a program where students don’t pay the tuition until they get a job.
“We’re trying to make it very appealing,” says McGee. “We have bent over backwards to make this doable for our students, who are coming from jobs where they are underemployed and unemployed. So we are offering an option where we don’t get paid until they get a job. We’re putting our money where our mouth is.”
We Can Code IT is also offering a free one-hour program, Programming Experience, on Thursday, June 18 at 7pm at LaunchHouse to learn about an IT career. Register through Meetup.
Registration for the part-time boot camp ends Thursday, June 18. Click here to apply for the program. The next full-time boot camp starts September 8.
“There will be one million unfilled jobs in IT by 2020,” explains McGee. “It’s a very in-demand industry and it continue to grow. Our whole economy is becoming IT based. There’s such a lack of diversity in IT. Employers would like to have more diversity.”
We Can Code IT held its first boot camp in March, and has partnered with several area employers, such as Hyland Software and OEConnection, to place its graduates in jobs. The next part-time coding boot camp starts this Saturday, June 20. The class meets Saturdays and Sundays from 8am-4pm for five months.
The cost of the program is $10,000, but women and minorities are eligible for a $1,000 grant. Starting with the upcoming session, We Can Code IT is testing a program where students don’t pay the tuition until they get a job.
“We’re trying to make it very appealing,” says McGee. “We have bent over backwards to make this doable for our students, who are coming from jobs where they are underemployed and unemployed. So we are offering an option where we don’t get paid until they get a job. We’re putting our money where our mouth is.”
We Can Code IT is also offering a free one-hour program, Programming Experience, on Thursday, June 18 at 7pm at LaunchHouse to learn about an IT career. Register through Meetup.
Registration for the part-time boot camp ends Thursday, June 18. Click here to apply for the program. The next full-time boot camp starts September 8.
The monthly open-air market, which is set for this weekend, brings together over 30 eclectic local makers and food purveyors.