To support the creation of jobs and community and economic development in underserved communities and neighborhoods across Ohio.
The program has two sub-programs, the Microenterprise Business Development Program and the Community Development Finance Fund Program. The Microenterprise program funds nonprofit Community Development Corporations (CDCs) to help develop Microenterprise businesses (under 5 employees). The Finance Fund program supports pre-development costs for affordable housing or economic development projects, provides economic development grants to assist with fixed-asset investment and helps to reduce borrowing costs for affordable housing projects.
Eligible Community Development Corporations apply to the Ohio CDC Association or Finance Fund for the applicable program.
About $600,000 is available annually through the Microenterprise Business Development Program and $1.3 million is available through the Community Development Finance Fund.
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