Interdepartmental Correspondence Sheet

Department of Trade & Development

City of Cincinnatic
Date: July 25, 2014
FOR YOUR INFORMATION
To:

Mayor and Members of City Council

From:

Scott C. Stiles, Interim City Manager

Subject:

Small Business Loan Portfolio Status

This information has been prepared as follow-up to information that the Department of Trade and Development
(DTD) shared with the Economic Growth and Infrastructure Committee on June 24, 2014. The attached information
was requested by media outlets and shows the status of various business loans currently being monitored by DTD.
The majority of these loans were executed in the 1990s and early 2000s. In fact, 84% of the loans originated prior
to 2005. The spreadsheet groups the loans by the name of the loan program in operation at the time the loan was
commenced.
Generally, the loans in the HUD and Downtown categories are project-based loans. The loans in the CIRLF,
NEDLF, SEED, Emergency Business and Empowerment Zone categories are generally standard small business
loans. The Emergency Business loans were made with businesses that were able to demonstrate that they were
directly affected by the civil unrest in 2001. The Empowerment Zone loans were assigned to the City afier the
dissolution of the Cincinnati Empowerment Corporation in 2010 and were not originated by the City. Twenty-six
percent of the total outstanding loan amount consists of Empowerment Zone loans.
The DTD contracts with two separate non-profit service providers for administration of its current small business
loan programs, the Grow Cincinnati Fund Loan Program and the MicroCity Loan Program. The National
Development Council, a national economic and community development organization, underwrites and services
loans made through the Grow Cincinnati Fund Loan Program. The Greater Cincinnati Microenterprise Initiative
(GCMI) underwrites and services loans made through the MicroCity Loan Program.
At present, 4% ($1,045,116) of the total amount loaned ($24,893,528) is past due. Of loans initiated within the last
10 years 1.6% ($164,428) is past due.
DTD continues to work with the Law Department on collection efforts for the loans that have shown no activity and
have had no communication with the City. The Law Department sent letters to unresponsive loan recipients in
April of this year notif~iing them of impending collection efforts if an arrangement for payment is not made. As part
of its collection program, the Law Department reviews all delinquent accounts referred by City departments and
makes a determination as to the cases in which collection efforts will be most successful and generate maximum
reimbursements for the City. After making appropriate in-house efforts to pursue delinquent accounts, the Law
Department also contracts with a collection agency to perform collection activities. DTD and the Law Department
will continue to work together in relation to collection efforts on the described outstanding business loans.
This report is for information purposes only. No action of the City Council is required.
Attachment
cc: Jeff McElravy, Department of Trade & Developmen~~

LoanlD

NAME

Loan Date

CIRLF
91-0031
Panache
97-0105
Columbia Tusculum Econ. Dev. Corp.
C97-0097
Avondale Coalition of Church
C98-01 10
Parktown Cafe
C98-01 11
Pipeline Liquors
C98-0112
JO. Doppes Sons Lumber Co.
C99-0118
Seedsowers, Inc.
Totals for CIRLF

Address

LoanAmt

Loa,~p~asof June 2014.xlsx

12/1/91,8W. 4th St.; 18W. 4th St.; 45202
12/1/97 3615 Morris P1.; 45226
3/1/03 4350 Glendale Milford Rd, Suite 230; 45242
5/1/98 6013 Waldway Lane; 45224
6/1/98 241 W. Court St.; 45202
6/1/98 1001 Dalton St.; 45203
11/1/99,3901 Standish Avenue; 45213

NEDLF
N94-0062
Fabro, Victor
N94-0066
Hood, Wanda
N94-0067
Brown, Charles
Totals for NEDLF

12/1/94.3~6 Walworth Ave.; 45226

12/1/94 P.O. Box 36427
2/1/95~4~0-70 Reading Rd; 45237

SEED
S03-0001
Via Spiga LLC
S03-0002
jWashington, Vernicia
S03-0003
MAXXTRAXX Productions
Totals for SEED

3/6/031041 St. Gregory St., Unit 3; 45202

5/19/03801 E. Mitchell; 45229
12/9/03,1600 Central Parkway; 45210

HUD
H97-0006A
Avondale Coalition of Church
H14-145A
Ohio Capital Corporation for Housing
H14-145B
Broadway Square I Associates, LLC
H14-145C
Broadway Square I, LLC
H85-0003
Pendleton Square
H91-0005
Pendleton Ill (Verdin),
Totals for HUD

7/15/974350 Glendale Milford Rd, Suite 230; 45242

2/18/14 88 East Broad St.; Suite 1800 Columbus, OH
2/18/142170 Gilbert Ave.; 45206
2/18/14 2l7oGilbertAve.; 45206
9/1/95444 Reading Rd; 45202
9/1/95 444 Reading Rd; 45202

DOWNTOWN
25x010-12
Rogers
U87-OO1A
Goodall
D01-0003
Shilito Center
D91-0005
Garfield Place
D94-0006
Garfield
D96-0001
Piatt Park Community (Groton Lofts)
096-0002
Piatt Park CommunityjGroton Lofts)
D96-0004
Elm Street Community Develop
Totals for DOWNTOWN
EMERGENCY BUSINESS
16-02-01
Inner Peace Holistic center
24-01-01
A Sauer & Company Inc
36-01-01
Cincinnati Dance Center Inc
4017
Extravagant Hair and Nails
53-01-01
MAXXTRAXX Productions
62-01-01
Paulas, The Gourmets Cafe
80-01-01
Tucker Restaurants Inc
Totals for EBL

_________

________

EMPOWERMENT ZONE
000002001
Nannys Learning Center
000002006
Good Foundation Learning Cent
000002007
Lloyds Gen Elect Cont Inc
000002017
Rockafellas Barber Shop Salon
000002018
C H Renaissance LLC
000002020
Styles of Perfection
000002024
Clifton Steak LLC
000002029 IEnzos Hot Hot LLC
Totals for EMPOWERMENT ZONE
MICROCITY LOANS
Under the Sea Childcare, LLC
Women of Styles Salon & Day Spa
STK Industries, Inc.
Creative Steps Learning Center, LLC
Fresh Table
Supreme Cuts
Noahs Ark Child Development Center, Inc.
Helping Hands Creative Learning Childcare
Center, LLC
Future Life Now, LLC
Unplugged (Pedal Wagon)
Cincinnati Concession Company
Corwyn Apparel, LLC
Mazunte Taqueria, LLC
Bruce D. Robinson Design, Inc.
Buona Terra Gelateria Creperie
6429 Miles, LLC
Red Rose Jems
Totals for MICROCITY

8/31/12180 E. Freedom Way; 45202

1/1/92 324W. 9th St.; 45202
4/4/011055 St. Paul Place; 45202
5/6/91 1055 St. Paul Place; 45202
12/21/941055 St. Paul Place; 45202
6/1/96 1055 St. Paul Place; 45202
6/1/961055 St. Paul Place; 45202
12/5/96 2536 Elmdale Dr.; 45230

10/23/20021708 Walnut St., Suite 100; 45202

7/15/2002 3335 Emerald Lakes #3A; 45211
5/24/2002 10792 Montgomery Rd; 45242
3/8/2002J 9150 Tripoli Dr; 45251
8/13/2002 1600 Central Parkway; 45210
1/24/2003 41 E. 4th St.; 45202
1/10/20023241 Stanhope; 45211

198,816.05
100,000.00
161,683.61
44,329.98
7,462.78
15,815.25
40,821.90
568,929.57

0.00
0.00
0.00
70,426.53
13,255.64
0.00
0.00
83,682.17

45,300.00
20,000.00
98,900.00
164,200.00

44,904.65
11,657.82
24,651.30
81,213.77

98,967.66
18,723.74
17,165.60
134,857.00

50,000.00
82,000.00
32,000.00
164,000.00

33,810.22
49,617.13,
30,354.70
113,782.05

47,324.33
61,831.83
37,905.66
147,061.82

1300,000.00
3,000,000.00
4,017,600.00
1,887,210.00
440,000.00
380,000.00
11,024,810.00

1238,732.24
3,000,000.00
4,017,600.00
1,887,210.00
219,875.90
144,109.36
10,507,527.50

300,000.00
550,000.00
306,000.00
3,850,000.00
1,770,000.00
705,000.00
265,000.00
2,800,000.00
10,546,000.00

10/12/20013494 Reading Rd.; 45229

______________
4/11/2003 415W. Court St.; 45203
,
12/5/2002 2439 Auburn Ave.; 45219
7/16/2004:733 E. McMiIlan; 45206
7/11/2003 10050 Montgomery Rd. Suite 232; 45242
*
12/19/2003 1531 Linn St.; 45214
11/14/2003162W. McMillan St.; 45219
1/14/2009 1106 Race St.; 45202

6/2/20095500 Kennedy Ave.; 45213

8/11/2008 7513 Reading Rd.; 45237
11/12/2009414 Walnut St. Suite 750; 45202
4/27/2010,2494 Sunnyhill Dr.; 45229
7/13/2010 1801 Race St.; 45202
8/24/20102300 B Reading Rd.; 45202
4/5/20115550 Reading Rd.; 45237
7/13/2011,3158 Glenmore Ave.; 45211
5/24/20114138 Hamilton Ave.; 45223
6/14/2012 1819 WalkerSt.;45202
3/19/2012 1320 Ethan Ave.; 45225
3/25/2008,415 Glensprings Dr.; 45246
10/12/2012 5207 Madison Rd.; 45227
4/24/201228W. Central Pkwy; 45202
4/26/20131028 Delta Ave.; 45208
8/13/2013 1819 Walker St.; 45202
5/22/2013 5915 Hamilton Ave.; 45224

Total Past Due

750,000.00
100,000.00
350,000.00
159,000.00
65,000.00
50,000.00~
44,310.00
1,518,310.00

___________

Balance as of
6130/14

0.00
0.00,
0.00
0.00
0.00,
0.00
0.00

283,391.49
477,778.31
306,000.00
3,022,250.00
1,770,000.00
44,791.32
174,564.65
2,800,000.00
8,878,775.77

15,000.00
31,563.26
50,000.00
25,000.00
is,ooo.o
51,174.66
25,000.00
212,737.92

4,748.80
17,563.26
41,443.25
4,083.82
4,282.02
41,474.66
25,000.00~
138,595.81

111,524.40~
148,800.60
57,457.91
13,895.12
142,998.40
93,485.66
33,308.30
150,000.00
751,470.39

75,456.45
148,800.60
57,457.91
13,895.12
142,998.40
93,485.66
0.00
150000.00
682:094.14

35,000.00

11,382.88;
30,804.11
2,531.81
27,826.53
17,709.24
2,868.10
1,933.43

35,000.00
35,000.00
35,000.00
35,000.00
8,000.00
5,000.00
35,000.00
35,000.00
29,000.00
35,000.00
15,000.00
35,000.00
35,000.00
35,000.00,
35,000.00 ,
35,000.00
512,000.00

25,287.23
24,840.29
19,873.92
22,985.00
7,969.93
25,143.25
21,196.65
29,913.40
35,000.00
29,553.63
336,819.40

28,723.02
228,836.80
0,00
0.00
0.00
0.00
0.00
0.00
257,559.82

4,911.17
0.00
44,683.45
200.00,
4,2B2.02
11,900.00
27,583.92
93,560.56

0.00
58,800.00
494.17
9,342.52
73,231.20
50,821.82
0.00
79.BOO.OO~
272:489.71

0
32331.37
0
13586.97
0
396.5
0 _______
802,24
0
0
0
8788.33,
0]
0
0
0
0
55,905.41