City Of Mentor:

Press release from the City of Mentor:

October 6th, 2021

Ohio Governor Mike DeWine and Lt. Governor Jon Husted today announced two new loan programs to help minority-and women-owned businesses grow and boost the Ohio economy.

The new Women’s Business Enterprise Loan Program and Ohio Micro-Enterprise Loan Program were included in the 2022-2023 operating budget, which was passed in June by the Ohio General Assembly.

The loan programs will be administered by the Ohio Department of Development through the Minority Business Development Division. It joins four other capital programs offered by Development: the Ohio Minority Business Bonding Program, the Ohio Minority Business Direct Loan Program, the Collateral Enhancement Program, and the Ohio Capital Access Program.

Information about the loans, including program guidelines and fact sheets, can be found online at Minority.Ohio.Gov. Click on Access to Capital on the left side of the webpage to find a list of all of the Minority Division’s financial resources. For more information or to start the application process, email MinorityBizFinance@Development.Ohio.Gov.

Businesses also can reach out to a Minority Business Assistance Center near them for help with the application process and assistance with business planning, access to capital, and state business certifications. For more information about the MBAC network, visit MBAC.Development.Ohio.Gov.

This press release was produced by the City of Mentor. The views expressed here are the author’s own.