State of Ohio Loan Programs for Businesses
- The Ohio Micro-Loan Program is designed to stimulate the growth of new and existing businesses by providing micro-loans at 0% interest. The minimum loan amount is $10,000 to a maximum of $45,000. Loans will be repaid within five years for permanent working capital and seven years for equipment.
- The Women’s Business Enterprise Loan Program is designed to stimulate the growth of existing women-owned businesses by providing loans at market rate or below market rate interest (currently up to 3%). The minimum loan amount is $45,000 up to a maximum of $500,000. Loans will be repaid within 10 years for equipment and machinery and 15 years for owner-occupied real estate.
- The Minority Business Direct Loan Program provides fixed, low-interest rate loans to certified minority-owned businesses that are purchasing or improving fixed assets resulting in the creation of new jobs for Ohioans. The minimum direct loan under the Minority Business Direct Loan Program is $45,000. The term on the loan cannot exceed 15 years for real estate financing or 10 years for machinery financing.
Questions? Contact the Ohio Development Services Agency, at BusinessHelp@Development.Ohio.Gov or 1-833-249-6446.
City of Oberlin COVID-19 Emergency Working Capital Loan Program for Businesses (Sole Proprietors Eligible)
- Program Guidelines
- Loan Application Form (Please use the same application form as the CDBG Loan Program)
City of Oberlin Community Development Block Grant (CDBG) COVID-19 Emergency Working Capital Loan Program for Businesses
Ohio Development Services Agency Resources
- Small Business Development Centers
- Minority Business Assistance Centers
- Procurement Technical Assistance Centers
- Manufacturing Extension Partnership
- Export Assistance Network
- Entrepreneurial Services Provider Program
Additional resources for businesses and employees:
- Printable Posters & Signs
- US Chamber of Commerce Coronavirus Small Business Guide
- Ohio Coronavirus Job Board – Search for Jobs or Post Open Positions
- Ohio Unemployment Benefits Related to the Coronavirus
- Pandemic Unemployment Assistance – Expanded Eligibility for Self-Employed & 1099 Tax Filers
- Guidance for Water Supply Flushing for Reopening of Buildings/Businesses
- Ohio Liquor One-Time Liquor Rebate Program for Businesses
- Professional Beauty Association COVID-19 Relief Fund – Resource for licensed beauticians, barbers, nail techs, massage therapists, etc.
- Lorain Metropolitan Housing Authority jumpSTART Program
- USDA Federal Rural Resource Guide – Resources for Businesses, Agricultural Producers, Non-Profits, etc.
- Small Business Administration Disaster Assistance Loans for Small Businesses