$11M Available for Minority- and Women-Owned Businesses

COLUMBUS, Ohio – The Ohio Department of Development recently announced that $11 million in grant funding is still available to support minority- and women-owned businesses.

The funding is available through the Women’s Business Enterprise Loan Program and Ohio Micro-Loan Program, which were included in the 2022-2023 operating budget and passed by the Ohio General Assembly in June 2021.

“Everyone needs to share in Ohio’s success,” Development Director Lydia Mihalik said. “These loans to minority- and women-owned small businesses lift families and communities by creating jobs and opportunity across our state.”

Keland Logan, owner of Emerald City Construction, a Youngstown-based low-impact green infrastructure company, received $45,000 from the Ohio Micro-Loan program to train, hire and teach ex-offenders a skilled trade.

In 2022, more than $9.34 million in loans were disbursed to more than 100 minority- and women-owned businesses. More than $4.6 million is still available through the Women’s Business Enterprise Loan Program, and more than $6.5 million is available through the Ohio Micro-Loan Program.

The loans are administered by the Ohio Department of Development’s Minority Business Development Division. Information about the loans and other capital programs can be found HERE. The loan application process can be started HERE.

Pictured at top: Photo courtesy of Pexels.com.

Published by The Business Journal, Youngstown, Ohio.