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Grow Now Program | Ohio Treasurer

30 East Broad Street, 9th Floor, Rhodes Office Tower, Columbus, OH 43215

Serves small businesses in Ohio. Eligible business owners must meet the following criteria: - Must be organized for profit. - Must have headquarters in Ohio. - Must operate majority of facilities in Ohio. - Must have less than 150 employees. - A majority of employees must be Ohio residents. - Must be able to save or create one (1) full-time or two (2) part-time jobs in Ohio for every $50,000 borrowed.
Applications are accepted year around. Rate reduction good for two (2) years with the opportunity for renewal.
(614) 466-6546

Voice - voice | Ag-LINK Program

(800) 228-1102

Voice - voice | Ohio Treasurer

https://tos.ohio.gov/grow-now
[email protected]

None.

- Call the office or visit the agency website for more information. - Visit https://tos.ohio.gov/grow-now to view a list of eligible banks. - Apply for a small business loan at an eligible bank and establish an interest rate. - Complete a GrowNOW application with an eligible bank. - If approved, the Ohio Treasury office will purchase an investment for the same amount as the approved loan at a below-market rate. - In turn after the application is accepted, the lender passes along interest savings by reducing the interest rate on the borrower's small business loan.

Loan rates apply. Interest rate reduction will be based on the loan's interest rate set for each borrower by the bank. Small Businesses may apply the interest rate reduction on up to $400,000 of a new or existing loan.

Ohio

Description

Offers a reduced interest rate on low interest business loans through the State Depository Bank to small businesses in Ohio to stimulate job grow in the state of Ohio.

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211 Summit

Providing organization

Ohio Treasurer

Provides banking, cash management, investment, and accounting services for state government. Provides loans and programs to the general public and small business owners.