Ohio provides help for minority-owned businesses

Ohio businesses now have access to three new grant and loan programs. Below is an overview. For full text of programs  at  https://businesshelp.ohio.gov.

1). Minority Micro-enterprise Grant Program:
• Up to $10,000 for small minority and women-owned businesses with 10 or fewer employees.
• To be eligible, businesses must have been certified as a Minority Business Enterprise or woman-owned EDGE-certified business as of Feb. 29, 2020; have 10 or fewer employees and up to $500,000 in annual revenue; and have not received funding under the federal CARES Act.

2) Ohio PPE Retooling and Reshoring Grant Program:
• Up to $500,000 for Ohio businesses to retool or reshore PPE Production.
• 20% of the available $20 million is set aside for manufacturers with less than 25 employees.

3) Appalachian Growth Capital Loan Program
• $10 million in loan funds for Appalachia-based companies.
• Businesses with less than $40 million in revenue are eligible
• Loans of up to $500,000 will be offered at 2% interest