ShoreBridge Capital

Cleveland OH


This proposed community development venture capital fund presents an important model for using mezzanine capital as part of a strategy for inner city revitalization. The comprehensive program design combines an investment strategy with forging linkages between labor force development and business development and expansion. These activities will be coordinated with Cleveland"s Supplemental Empowerment Zone. Subordinated debt with revenue participations will be used as a means of making venture investments in businesses with potential for growth and expansion of its employment base. ShoreBridge will particularly focus on companies that offer upward mobility for low-income workers. ShoreBridge is managed by Cleveland Enterprise Group, a nonprofit affiliate of Cleveland Development Bancorporation (which is a subsidiary of Shorebank Corporation).

CDFI Awards for ShoreBridge Capital


CORE (1996) - $750,000

The infusion of $1.5 million in investment from the CDFI Fund ($750,000 equity in ShoreBridge, and $750,000 grant to Cleveland Enterprise Group), along with capital from other investors, will be used for financing to bring, retain and expand the area"s employment base, particularly focused on manufacturers in Cleveland"s lower-income neighborhoods. This degree of innovation, -and the comprehensive nature of this endeavor makes ShoreBridge a model worthy of close attention.



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