Minority Financial Incentives >> Minority Direct Loan Program

Eligible Borrowers

Eligible borrowers include any operating business entity which has been certified by the State Equal Opportunity coordinator as a Minority Business Enterprise and which demonstrates that its fixed asset expansion/retention project will create or retain jobs for Ohio citizens.

The Minority Direct Loan Program may lend funds to businesses engaged in commerce, manufacturing, research and development or distribution.

Under Ohio Revised Code Chapter 122.76 (A), other eligible borrowers include Community Improvement Corporations and Ohio Development Corporations.

• Program Summary
• Use of Funds
• Eligible Borrowers
• Amount of Minority Direct Loans
• Interest Rate
• Terms
• Private Financing Requirements
• Collateral/Security for State Loan
• Fees
• Prevailing Wage
• Criteria for Loan Application Evaluation
• Steps in Applying for Ohio Minority Direct Loan Financing