Business  |  Entrepreneurship and Business Assistance Centers

Entrepreneurship and Business Assistance Centers » Targeted Investment Program

Targeted Investment Program (TIP)


The Ohio Development Services Agency has identified the need for a flexible loan program that can strategically support growth and expansion of targeted Ohio small businesses. In response to this need, the Ohio Development Services Agency has created the Targeted Investment Program (TIP).


The TIP will allow the Ohio Development Services Agency to directly provide loans to targeted small businesses that have received first or second round equity investments, are active within an existing value chain, and are pursuing new high economic value activities.

Program Goals

The TIP aims to increase the success of small businesses, with an emphasis on woman- and minority-owned businesses, by providing loans to up to 20 companies, supporting the creation and retention of 250 jobs, and gaining a 4:1 leverage on funds invested.


The TIP will target an average borrower size of 500 employees or fewer (as defined by the SBA in 13 CFR Part 121.106) and cannot extend credit support to borrowers with more than 750 employees. Ineligible businesses include firms involved in real estate investment, speculative activities, lending or leasing activities, pyramid sales, illegal activities, gambling activities, charitable institutions, religious institutions, consumer and marketing cooperatives, and other nonprofits.

Targeted Companies

Targeted companies are active in one or more of the following value chains: manufacturing, production, logistics, agribusiness, food processing, or in other industry sectors which have not been designated as ineligible by the Small Business Jobs Act of 2010.  Targeted companies are raising capital to support new demand, creating new product lines, or entering new value chains. Preference will be given to companies demonstrating disruptive innovation and a compelling likelihood of strong employment growth, strong sales growth, and value chain impact. Targeted companies will also demonstrate value chain support.

Investment Amounts

TIP loans may range between $500,000 and $5 million, with a target loan size of $1 million.

Project Percentage

It is expected that TIP will participate in an "A" loan round at no more than 50 percent of the total project.

Use of Funds

Loan proceeds may be used for a business purpose which includes, but is not limited to, working capital business procurement, equipment, machinery, research and development, and inventory. A business purpose also includes the purchase, construction, renovation, or tenant improvements of an eligible place of business that is not for passive real estate investment purposes. Allowed use of funds does not include tax payments, reimbursement of owner loans, or purchasing any portion of an ownership interest from a current owner.

Application Process

Companies seeking TIP loans will be required to complete a preliminary screening questionnaire, to assist us in evaluating your company’s eligibility and identifying the program that best fits your needs.  Submission of the questionnaire does not guarantee funding, but serves as an important tool in determining the next steps. 

Companies may then be required to submit a standardized application in addition to a business plan, financial statements, and due diligence materials. Companies may also be required to supply supplemental documents throughout the application and loan review process. Preliminary screening questionnaires and applications will be processed by the Office of Technology Investments in a Phase I due diligence review.  Applications passing the Phase I review will be assigned to a third party reviewer for Phase II review and scoring. Loans will be selected from a pool of applications passing Phase II review. The net economic value, resource availability, and target portfolio will be considered in the decision-making process.

If you have additional questions regarding program eligibility, or to request a preliminary screening questionnaire, please contact Diane Chime at (614) 644-9336, or by email at