ECDI Connects: January 2014


ECDI Connects: January 2014 - Rackcdn.com15b9e876af0e807f9296-478157403c94e443e85daa72aba36723.r75.cf2.rackcdn.com/...

0 downloads 74 Views 2MB Size

Volume 3

Startup Weekend Licking County 2014

!Featuring !Founder!& !CEO!Inna !Kinney!And!President!&!General !Counsel!Steve!Fireman

! !Startup!Weekend,!a!na%onally!recognized!grassroots !movement,!gives!you!the!opportunity!to!work!with !others!to!develop!a!startup!business!idea,!create!a !business!model,!and!pitch!your!final!startup!proposal!to!a !select!panel!of!judges. !! !Each!presenta%on!will!be!cri%qued!by!an!esteemed!panel !of!local,!small!business!leaders,!including!Kinney!and !Fireman,!and!awards!will!be!presented!to!the!winning !groups. ! !The!fes9vi9es!begin!on!Friday,!February!7th.!To!register !for!and!receive!more!informa9on!about!Startup Weekend!2014,!click!here.

Advice From Our President: Business Legal Briefs

!Are!You!Prepared!For Tax!Season?!

! !Here!is!some!helpful!advice, !compliments!of!Asset!Preserva9on !Incorpora9on. ! !WHAT!IS!A!1031!EXCHANGE? !Thanks!to!IRC!Sec%on!1031,!a!properly!structured!

January 2014 In This Issue Startup Weekend Tax Advice Let's Go Green ECDI Cleveland ECDI Lending ECDI Funded Businesses Since October Our New Blog

Food Fort Annual Showcase When:

Thursday,!March!13th,!2014, 5:30!pm!M!8:30!pm !

Where:

ECDI 1655!Old!Leonard!Avenue Columbus,!Ohio,!43219 !

What:

Annual!Food!Fort!Showcase!featuring our!talented!foodMbased!clients.!

Upcoming!ECDI! Classes!&!Training

! February!4th:!Ask!The!Expert:!2014!Tax Prep!&!Planning February!27th:!Accurate!Recipe Cos%ng!&!Menu!Engineering For!more!informa%on!about!these classes!&!training,!Call!ECDI!at!(614) 559V0115.

!1031!exchange!allows!an!investor!to!sell!a!property,!to!!!! !reinvest!the!proceeds!in!a!new!property!and!to!defer!all !capital!gain!taxes.!IRC!Sec9on!1031!(a)(1)!states: !"No!gain!or!loss!shall!be!recognized!on!the!exchange!of !property!held!for!produc8ve!use!in!a!trade!or!business!or!! for!investment,!if!such!property!is!exchanged!solely!for !property!of!like=kind!which!is!to!be!held!either!for !produc8ve!use!in!a!trade!or!business!or!for!investment." ! To!understand!the!powerful!protec%on!a!1031!exchange !offers,!consider!the!following!example: An!investor!has!a!$200,000!capital!gain!and!incurs a!tax!liability!of!approximately!$70,000!in combined!taxes!(deprecia9on!recapture,!federal and!state!capital!gain!taxes)!when!the!property!is sold.!Only!$130,000!remains!to!reinvest!in!another property. Assuming!a!25%!down!payment!and!a!75%!loanV toVvalue!ra9o,!the!seller!would!only!be!able!to purchase!a!$520,000!new!property. If!the!same!investor!chose!to!exchange,!however, he!or!she!would!be!able!to!reinvest!the!en9re $200,000!of!equity!in!the!purchase!of!$800,000!in real!estate,!assuming!the!same!down!payment and!loanVtoVvalue!ra9os. ! !As!the!above!example!demonstrates,!exchanges!protect !investors!from!capital!gain!taxes!as!well!as!facilita%ng !significant!por\olio!growth!and!increased!return!on !investment.!In!order!to!access!the!full!poten%al!of!these !benefits,!it!is!crucial!to!have!a!comprehensive!knowledge !of!the!exchange!process!and!the!IRC.!For!instance,!an !accurate!understanding!of!the!key!term!likeMkind!M!o]en !mistakenly!thought!to!mean!the!same!exact!types!of !property!M!can!reveal!possibili%es!that!might!have!been !dismissed!or!overlooked.

Client Spotlight: "Going Green"

!

!The!Going !Green!Store!

!The!Going!Green!Store,!founded!in!2011!by!Michael !Bauer!and!Teresa!Peters,!is!an!ecoVgeneral!store,!selling!a !full!range!of!health!conscious,!!planetVfriendly!goods!to !consumers!who!are!interested!in!"going!green"!but!need !a!li`le!help!making!the!right!choices.!!They!also!sell!a !wide!selec%on!of!local!food!offerings;!focusing!on!locally !sourced,!pastureMfed,!gluten!free,!organically!grown!and

Upcoming Women's Business Center!of Ohio!Classes &!Training

! February!1st:!Women!And!Minority Owned!Business!Cer%fica%on Workshop ! February!11th:!The!Affordable!Care!Act Info!Session! February!13th:!Crowdfunding:!Filming Workshop ! February!18th:!Exchange!Networking Night For!more!informa%on!about!these classes!&!training,!Call!The!WBC!at (614)!732V0981,!or!email!Carlie!Urell, WBC!Business!Rela%onship!Counselor, [email protected] !

Welcome!To!The!ECDI Family (*new&borrowers&since&October&2013)

AG!Auto,!LLC Ighnat!Enterprises,!LLC! Jamara,!LLC My!Auto!Care,!Inc. Shellee!Fisher!Photography!& Design,!LLC Tree!Of!Love!Childcare!Center University!Medical!Staffing Agency,!LLC

Check!Out!Our!New! Blog

!other!speciality!whole!foods!that!are!both!unique!and !good!for!you.!! ! !Just!this!past!year,!they!launched!their!wholesale !opera9on,!selling!"green"!serviceVware.!!They!offer !a!wide!selec%on!of!environmentally!friendly, !compe%%vely!priced!toMgo!containers,!napkins,!plates, !hot/cold!cups,!and!accessories!for!special!events, !fes%vals,!food!trucks,!ins%tu%ons,!restaurants,!cafeterias, !caterers,!staff!rooms!and!more. ! !They!also!promote!sustainable!"green"!ini%a%ves !through!community!events,!classes,!workshops!and !public!speaking!engagements. !You!can!visit!their!website!here.!

WBC Exchange Networking Night

Come!Promote!Your!Business ! You're!invited!to!join!other!small business!owners!at!The!Women's Business!Center's!first!ever!evening!of Exchange!Networking!on!Tuesday, February!18th.

Bring!at!!least!3!product!samples!or service!coupons!to!guarantee!new!connec%ons. Exchange!business!%ps!and!receive!valuable!feedback. Bring!a!friend!to!introduce!them!to!The!WBC. Pick!up!your!membership!card!and!renew!your membership!for!year!two. Open!to!all!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

You!can!register!for!this! event!here.!For!more informa9on,!call! (614)!732V0981.

Food Fort Annual Showcase

!!Save!The!Date, March!13th,!2014!

! !The!Food!Fort!warmly !welcomes!you!to!our! !!Annual!Food!Fort!Showcase!!!Hosted!in!the!Food!Fort,!!!! !!this!premier!networking!and!tas%ng!event!will!give!you!a

!!glimpse!inside!the!dynamic!world!of!mobile!food!!!! !businesses!and!allow!our!talented!and!diverse!Food!Fort !clients!to!present!their!culinary!skills!to!Columbus.! ! !Meet!our!members!and!sample!their!delicious!foods. !Tour!their!food!trucks!and!kitchens.!Book!a!Food!Fort !client!for!a!private!party,!corporate!func%on,!or!event. !Make!valuable!!business!connec%ons!while!having!fun!

!

!For!more!informa9on,!call!614V559V0196, !or!email!Food!Fort!Administrator! [email protected]!! ! !Formal!invita9ons!to!come.

ECDI Cleveland

Start!Your!Food!Based Business!Today...

! The!Cleveland!Culinary!Launch!& !Kitchen!is!gearing!up!for!it's!Food!Business!Incubator !Program,!an!intensive!8!week!food!and!beverage!industry !business!development!program,!beginning!in!March.!Are !you!trying!to!start!or!expand!your!foodVbased!business? !Look!no!further!!Topics!covered!include: Food!safety Pricing Marke9ng Product!Development

!Par%cipants!must!submit!an!applica%on!and!short!video, !power!point,!or!story!presenta%on!about!their!business. !Applica9ons!are!due!Monday,!February!3rd. ! !For!more!informa%on,!please!contact!Emily!Sullivan [email protected]!or!call!(216)!912V5662.

!

ECDI!Cleveland!Client!Spotlight !

!We!are!happy!to!welcome!Tipse!Treats!to !the!ECDI!family.!Creator!of!the!firstVever !"cupcake!shot",!Tipse!Treats!is!truly!an !innovator.!Combining!baked!goods!with !with!hints!of!spirits,!their!popularity !con%nues!to!spread!across!the!country.

! !They!expect!to!open!their!retail!loca%on!in!Downtown !Cleveland!this!year.! ! !Check!out!their!website!here.

ECDI Lending

Now!offering! expedited!loan specials!for!existing and!new!lending clients! !Loan!Special!#1:!For!ALL!current!lending!clients: Loans!up!to!$1,000!!!

Less!documenta%on!required Fast!turnaround!(closing!in!5!days)

!Loan!Special!#2:!For!CURRENT!lending!clients!with!at !least!9!months!payment!history!with!ECDI: Loans!up!to!$15,000

!Less!documenta%on !More!flexible!credit!repor%ng !Streamlined!underwri%ng

!Loan!Special!#3:!For!NEW!lending!clients: Loans!up!to!$10,000!(you!MUST!have!a!minimum credit!score!of!620) !Streamlined!underwri%ng !If!interested!in!applying!for!a!loan!at!ECDI,!we!ask!that !you!first!amend!a!FREE!informa9onal!session.!You!can !register!for!the!info!session!here. Forward this email

This email was sent to [email protected] by [email protected] | Update Profile/Email Address | Instant removal with SafeUnsubscribe™ | Privacy Policy.

Economic and Community Development Institute | 1655 Old Leonard Avenue | Columbus | OH | 43219