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ShoreBank Cleveland

Program

ShoreBank Cleveland offers a number of conventional financial products to fit small business needs including specific expertise with community-based transactions. They have expertise in working with community organizations such as faith-based organizations and childcare centers. Their products include fully secured credit, fixed asset term loans, working capital lines of credit, asset based lending, and commercial mortgages.

Specific non-profit programs include:

Enterprise Finance Funds  ShoreBank Enterprise operates two finance funds, ShoreBridge Capital and the ShoreGrowth Fund, that offer a total of $8 million in non-traditional debt and equity investments. These funds provide $25,000 to $500,000 investments for working capital, equipment purchases, construction projects, business acquisition, debt restructuring, and other business purposes to early stage companies with strong business plans and to established firms that have an identified growth opportunity but may not qualify for traditional bank financing. Borrowers in both funds agree to work with ShoreBank Enterprise's labor force specialist to employ low-income Cleveland-area residents.

Investments by individuals, as well as institutions such as the Calvert Foundation, provide lending capital to ShoreBank and ShoreBank Enterprise Group.


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