Quick Reference  |  Summary

Collateral Enhancement Program

Purpose

Provides collateral to help small businesses secure loans.

Program

Provides lending institutions with cash collateral deposits to use as additional collateral support for loans made to small businesses. A project is eligible when the value of the available collateral is insufficient to secure the loan. The collateral makes the loan less risky for the lending institution.

For Whom

Small and minority-owned businesses. However, collateral is delivered directly to lending institutions.

Program Contact

Minority Business Development Division, Normy Fehrman, (614) 466-5107

How Much

Up to $1.5 million and up to 30 percent of loan amount (50 percent for HubZone or certified minority-owned businesses)

Click here for detailed information