The Governor announced three new programs that could benefit SBDC Clients.
1). Minority Micro-enterprise Grant Program:
- Up to $10,000 for small minority and women owned businesses with 10 or fewer employees.
- To be eligible, businesses must have been certified as a Minority Business Enterprise or woman-owned EDGE-certified business as of Feb. 29, 2020; have 10 or fewer employees and up to $500,000 in annual revenue; and have not received funding under the federal CARES Act.
- Businesses may apply at: https://development.ohio.gov/bs/bs_mmegp.htm
2) Ohio PPE Retooling and Reshoring Grant Program:
- Up to $500,000 for Ohio businesses to retool or reshore PPE Production.
- 20% of the available $20 million is set aside for manufacturers with less than 25 employees.
- https://development.ohio.gov/bs/bs_ppe-rrgpg.htm
3) Appalachian Growth Capital Loan Program
- $10 million in loan funds for Appalachia-based companies.
- Businesses with less than $40 million in revenue are eligible
- Loans of up to $500,000 will be offered at 2% interest
- More information and applications are available at: appcap.org
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