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Ohio-based CDFI providing flexible financing, grants, and real estate development to underserved communities and small businesses, with $64.7M in loans issued since 2006.
Data compiled from public sources
Finance Fund is a mission-driven nonprofit community development financial institution (CDFI) founded to serve low- and moderate-income communities across Ohio. The organization operates as a bridge between capital resources and underserved areas, focusing on sustainable economic and physical development rather than high-cost lending. Since its first loan in 2006, Finance Fund has become a significant investor in Ohio's most distressed urban and rural communities, deploying over $491.5 million in direct investments while leveraging more than $2 billion in additional funding.
Finance Fund offers a diversified suite of services beyond traditional lending. Their CDFI arm (FCAP) provides flexible financing totaling $64.7 million to 105 borrowers, supporting small businesses, nonprofits, and community facilities. The organization also structures New Markets Tax Credits for businesses in severely distressed communities, awards competitive grants to community-based nonprofits, and develops real estate including affordable housing, mixed-use developments, and commercial spaces. They provide technical assistance including financial modeling, construction management, and planning services to support project success.
What distinguishes Finance Fund is its hybrid nonprofit model combining lending, real estate development, and grant-making rather than operating as a traditional lender. Their $64.7M in flexible financing has leveraged $182.4M in additional investments and created 4,341 direct jobs, demonstrating significant community multiplier effects. The organization's focus on underserved Ohio communities, combined with technical assistance and below-market financing, addresses capital gaps that traditional lenders ignore. Board governance and annual reporting indicate institutional transparency and accountability to their mission.
The primary limitation is geographic focus—Finance Fund operates exclusively in Ohio, making it unavailable to businesses in other states. While they position themselves as an alternative to high-cost lending, the website provides no specific APR rates, loan terms, or qualification requirements, making it difficult to compare against payday alternatives or assess true affordability claims. Their lending volume (105 loans over 17+ years) suggests selective, relationship-based lending rather than accessible small-dollar credit for individuals facing short-term cash needs. This is fundamentally a business development and real estate organization, not a consumer lending platform.
This is state-level context for Business Loans consumers in Columbus, OH. It does not confirm that Finance Fund or this specific location is licensed.
State regulator
Ohio Department of Commerce Division of Financial Institutions
Consumer protection
Status: Permitted
Rate context: 8% APR general usury cap applies unless exempt
Personal loans are regulated under Ohio's general usury laws. Lenders must be licensed by the Ohio Department of Commerce Division of Financial Institutions. The 8% usury cap applies to most personal loans unless specific exemptions apply (such as licensed credit unions or certain institutional lenders).
Status: Permitted
Rate context: 8% APR general usury cap applies unless exempt; consumer finance lenders may operate under different rate structures with proper licensing
Installment loans are permitted in Ohio and regulated by the Ohio Department of Commerce Division of Financial Institutions. Licensed consumer finance lenders may charge rates above the general usury cap under Ohio Rev. Code § 1321.01 et seq., provided they comply with licensing requirements and disclosure obligations.
Source: CreditDoc state-law summary and listed public regulator resources. Verify licensing directly with the listed state regulator before relying on a provider.
Finance Fund offers 12 services including CDFI flexible financing and loans to small businesses and nonprofits ($64.7M total issued), New Markets Tax Credit structuring for businesses in severely distressed communities, Competitive grants to community-based nonprofit organizations, Real estate development including affordable residential, commercial, and mixed-use housing, Technical assistance services including financial modeling and feasibility analysis, and 7 more.
Finance Fund has profile signals associated with Small business owners in Ohio's low- and moderate-income communities unable to qualify for traditional bank financing, Nonprofit organizations and community development corporations seeking mission-aligned capital with technical support, Real estate developers building affordable housing or mixed-use projects in economically distressed Ohio areas, Community facility operators (schools, health centers, food retailers) in underserved neighborhoods seeking flexible financing.
Key strengths: CDFI status with flexible lending terms designed for underserved small businesses and nonprofits unable to access traditional financing; $64.7M deployed in loans with $182.4M in leveraged additional investment, demonstrating significant community multiplier effect; Created and/or retained 4,341 direct jobs through CDFI financing alone, with cumulative investments supporting 21,624 permanent jobs across all programs. Areas to consider: Geographic limitation: operates exclusively in Ohio, unavailable to businesses and organizations in other states; Website lacks specific APR rates, loan terms, and qualification criteria, making it impossible to assess true affordability or compare to alternatives.
In the Business Loans category, comparable providers include 1st Security Financial Corporation, Community Capital Development Corporation, Small Business Loan Source. Each company has different strengths, so compare services, pricing, and consumer complaint records before deciding what to do next.
CreditDoc Profile Note
Finance Fund is profile signals for small businesses, nonprofits, and real estate developers in Ohio's underserved communities seeking flexible, mission-aligned capital with technical support—not for individual consumers researching emergency-cash options or payday alternatives. The primary caveat is that this is a selective, relationship-based CDFI serving institutional borrowers, not an accessible lending platform for consumers facing immediate financial needs.
1st Security Financial Corporation provides listed financial services for freight brokers, including BMC-85 trust fund management and BOC-3 compliance solutions since 2003.
Profile signals: Freight brokers needing BMC-85 trust fund compliance and management, Freight brokerage companies requiring BOC-3 filing assistance
Ohio-based certified SBA development company providing long-term, fixed-rate financing for small business capital expenditures since 1981.
Profile signals: Small business owners seeking to purchase equipment, real estate, or fund construction projects with long-term fixed-rate financing, Ohio-based entrepreneurs needing $50,000+ in capital with established business operations and collateral
Small Business Loan Source is a business funding company in Columbus, Ohio helping entrepreneurs secure loans and financing to grow their operations.
Profile signals: Small business owners in the Columbus, Ohio area seeking local lending relationships, Entrepreneurs who prefer in-person consultations for business financing discussions
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Read guide →New to credit and lending? Here are the key terms used on this page, explained in plain language with real-number examples.
The total yearly cost of borrowing money, including the interest rate plus any fees the lender charges. Think of it as the 'true price tag' on a loan.
Lenders are required to show APR by law (Truth in Lending Act) because the interest rate alone can hide fees. Comparing APR across lenders is the most reliable way to find the lower-cost loan.
Example
You borrow $10,000 at 6% interest for 3 years, but there's a $300 origination fee. The interest rate is 6%, but the APR is 6.9% because it includes that fee. You'd pay $304/month and $946 total in interest.
The percentage a lender charges you for borrowing their money, calculated on the amount you still owe. It's the lender's profit for taking the risk of lending to you.
Even a 1% difference in interest rate can cost you thousands over a loan's life. Lower rates mean less money out of your pocket.
Example
On a $20,000 car loan for 5 years: at 5% you pay $2,645 in interest. At 8% you pay $4,332. That 3% difference costs you $1,687 extra.
A person who agrees to repay your loan if you can't. They're equally responsible for the debt, and their credit is affected by your payment behavior.
Cosigning helps people with thin credit get approved or get better rates. But it's a huge risk for the cosigner — they're on the hook for the full amount if you default.
Example
A parent cosigns their child's $30,000 student loan. The child stops paying after 6 months. The parent is now legally required to make the payments or face collections, lawsuits, and credit damage.
How long you have to repay the loan, measured in months or years. A shorter term means higher monthly payments but less total interest paid.
Longer terms feel more affordable monthly but cost much more overall. A 30-year mortgage costs almost double in interest compared to a 15-year mortgage on the same amount.
Example
Borrowing $200,000 at 6.5%: A 15-year term costs $1,742/month ($113,561 total interest). A 30-year term costs $1,264/month ($255,088 total interest). You save $141,527 with the shorter term.
A one-time fee the lender charges to process and set up your loan. It covers their costs for underwriting, verifying your information, and preparing paperwork.
Origination fees are usually 1-8% of the loan amount and are often deducted from your loan proceeds — so you receive less than you borrowed.
Example
You're approved for a $10,000 personal loan with a 5% origination fee. The lender deducts $500 upfront, so you receive $9,500 in your bank account but owe $10,000 plus interest.
The original amount of money you borrowed, before any interest or fees are added. It's the 'real' amount of your debt.
Your interest is calculated on the principal. Paying extra toward principal (not just interest) is the one route to reduce your total cost and pay off a loan early.
Example
You borrow $25,000 for a car. That $25,000 is your principal. Your first payment of $450 might split as $150 toward interest and $300 toward principal, bringing your balance to $24,700.
The process where a lender evaluates your finances — income, debts, credit history, assets — to decide whether to approve your loan and at what rate.
Understanding what underwriters look for helps you prepare a stronger application. They check your DTI ratio, employment stability, credit score, and the asset's value.
Example
You apply for a mortgage. The underwriter reviews your pay stubs (income), bank statements (savings), credit report (history), and orders an appraisal (home value). This takes 2-4 weeks.
Want to learn more? Read our Financial Wellness Guides for in-depth explanations and practical advice.
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