Freedom Equity Inc. (FEI) is a community development financial institution that was incorporated in 2021 to be an alternative lender for Black-owned small businesses in Central Ohio. Our goal is to improve the accessibility and affordability of capital to support Black and minority-owned businesses in Central Ohio.
Our Vision:
An inclusive economy where Black entrepreneurs not only thrive, but also serve as catalysts
for positive change, creating lasting benefits for our community.
Our Mission:
To promote economic growth and community development in Central Ohio by
fostering the success and sustainability of Black businesses.
Our History
Our Funding Partners
Funding for loans and operations has been contributed by the Franklin County Board of Commissioners, the City of Columbus, JPMorgan Chase Foundation, The Columbus Foundation, One Columbus, Huntington Bank, PNC Bank, and First Merchants Bank.
We know that there are both traditional financial institutions and community lenders serving our region, but we also see that a large lending gap remains for the Black business community.
Understanding this, and the challenges often experienced by borrowers of color, the Franklin County Business Growth and Equity Alliance (comprised of Franklin County, the Columbus Urban League, and One Columbus) dedicated capital, staff, and in-kind resources to the development of our organization.
Freedom Equity was born as an alternative focused on increasing economic prosperity for underserved businesses by providing affordable lending opportunities for our community.
We meet our borrowers where they are to build and improve success rates.
In addition to lending, we provide technical assistance and capacity building for small business owners to support our lending programs.
We have and continue to find best practices from across the country to curate a new way of financing small businesses here in Central Ohio. We believe that by implementing economic equity and shared prosperity strategies, we will improve outcomes for businesses historically diminished by systemic racism.
Simply put: We are focused on increasing the availability of accessible and affordable financial products with flexible underwriting and efficient capital deployment.
We’re not here to duplicate effective efforts, our goal is to add another support and connective tissue to the work being done regionally. Our wrap-around model is designed to connect into the existing regional programmatic offerings from entrepreneurial support organizations.
Interested in partnering with us? Reach out