LT. GOVERNOR PRAISES OHIO’S CAPITAL ACCESS PROGRAM
Program Has Helped Create 902 Jobs in First Two Years

FOR IMMEDIATE RELEASE
April 19, 2005

Columbus, OH -- Lieutenant Governor Bruce Johnson today announced that in its first two years, the Ohio Capital Access Program (CAP) has benefited 185 Ohio firms and generated more than $12.9 million in lender loans. As a result of this assistance, 885 jobs have been retained and 902 new jobs have been created.

“The Capital Access Program has proven to be a successful tool that is enabling many financial institutions to approve loans to small businesses that might not have otherwise qualified for assistance,” said Lt. Governor Johnson, who also serves as state development director. “I’m confident that the early success of this program will encourage more lenders to assist Ohio’s small business community, helping to create new jobs in our state.”

The CAP is designed to lend funds to small businesses that may not meet conventional underwriting criteria. To accomplish this, a loan “guarantee” reserve account is established at a participating lender and can be used to recover possible losses from loans enrolled in the program. To enroll loans in the program, a financial institution must contact ODOD and become a participating CAP lender.

Current participating CAP lenders include: Citizens Savings Bank; Fifth Third Bank – Cincinnati; Fifth Third Bank - Dayton; Fifth Third Bank - Central Ohio; Fifth Third Bank - Cleveland; Fifth Third Bank -Northwestern Ohio; National City Bank; PNC Bank; and United Bank.

To enroll loans with the CAP, lenders must enter into a participation agreement. Eligible borrowers must be an Ohio-based small business with annual sales of less than $10 million. Maximum loan amounts are $250,000 for working capital and $500,000 for fixed assets; terms are determined by the lender.

Small businesses and interested lenders may obtain lender contact information, program guidelines and enrollment forms by visiting the CAP Web site at www.odod.state.oh.us/cap or by calling ODOD at
(614) 466-5700.