Finance Fund Capital Corporation

Finance Fund Capital Corporation (FCAP) is a statewide nonprofit Community Development Financial Institution to promote economic revitalization and community development by providing access to capital. 

Finance Fund Capital Corporation provides loans and investments to community-based nonprofit organizations and for-profit businesses in distressed urban and rural communities throughout the state of Ohio. Funding programs include flexible loans that support a wide range of projects such as Small Business; Healthy Food Retail; Community Facilities; and Affordable Housing. 

FCAP made its first loan in 2006 and has leveraged $92 million on an investment of $38 million to 74 borrowers. FCAP has financed 201 housing units, created 773,566 sq. ft. of commercial space and helped provide services to 9,653 people. In addition, partnerships have helped create and/or retain 3,261 direct jobs.

HFFI Projects and Impact

  • Mobile Market on the Green
    • Urban Mobile Market
    • Funds were used to purchase vehicle and fund operations for 2 years
  • Simon's Supermarket
    • Urban Supermarket
    • Partnerships: City of Euclid
    • 27,000 ft2
    • Funds were used for in-store construction and equipment
  • Hattie Larlham Food Hub
    • Urban Food Hub
    • 4,400 ft2
    • Funds were used for construction and equipment
  • Prather's IGA
    • Rural Supermarket
    • 22,000 ft2
    • Funds were used for expansion and equipment
    • Urban Planning Strategy
  • Campbell's Market
    • Rural Supermarket
    • 12,000 ft2
    • Funds used for construction and equipment
    • Urban Planning Strategy
  • The Market at St. Mark's, East Side of Cleveland
    • Urban Farmers Market
    • 2,200 ft2
    • Funds used for development and operations costs
  • Dollar Express
    • Urban Supermarket
  • Clifton Market
    • Urban Co-op
    • 29,000 ft2
  • KV Market
    • Urban Supermarket
    • 13,100 ft2
  • 11501 Buckeye Foods
    • Urban Supermarket
    • 56,000 ft2
  • 7501 Carnegie
    • Urban Food Hub
    • 60,000 ft2

All Projects have leveraged a total of $12MM on an investment of $2.55MM.

Source of money: Treasury/CDFI Fund; Fiscal year(s): 2015, 2017