Business Revolving Loan Fund
The City of Bowling Green's Revolving Loan Fund provides loans to businesses for start-ups and expansions, resulting in more jobs for low- and moderate-income persons.
The Revolving Loan Fund (RLF) is used as a supplement to private funding for businesses conducting start-ups and expansions. These low-interest loans generate a job for each $35,000 loaned. This program reduces the incidence of poverty in the City by developing jobs that must be filled by low- to moderate-income persons (using Wood County Median Income Eligibility Guidelines). The loans are issued at two-thirds of the prime-lending rate on the day of closing. Security is required. It is anticipated that the program will generate new jobs annually for persons at low- to moderate-income levels.
For more information about small business loans through the RLF, please contact the City of Bowling Green at 419-354-6203.
The 10th application period for TechCred is open and will close on Aug. 31.
Since the start of the program, a total of 1,310 Ohio employers have been approved for TechCred, which will fund up to 23,723 tech-focused credentials to upskill Ohio workers. The results of the June round, which closed on June 30, will be announced in the coming weeks.
TechCred asks employers to identify the specific skills they need and the number of employees they want to upskill toward a more advanced position. Then, in partnership with a training provider, the employer can apply online at TechCred.Ohio.Gov, and the state will reimburse up to $2,000 for the training upon completion of a credential.
The recently passed State Operating Budget funds an additional 40,000 technology-focused credentials through the TechCred Program, including IMAP, the Individual Microcredential Assistance Program, in Fiscal Years 2022 and 2023.
Learn more about the program by visiting TechCred.Ohio.Gov.
New Grant Programs for Small Businesses
Four grant programs that target businesses that have suffered significant losses during the COVID-19 pandemic will begin taking applications on Tuesday, June 29. More information about these programs is available online at BusinessHelp.Ohio.gov, including each grant program’s terms and conditions, fact sheets and frequently asked questions.
The programs are:
- Food and Beverage Establishment Grant: This program will provide grants of $10,000, $20,000, or $30,000 to restaurants, bars, coffee shops, and other food and drinking businesses. The amount of individual grants to eligible businesses will be determined by the business’ loss of revenue in 2020.
- Entertainment Venue Grant: This program will provide grants of $10,000, $20,000, or $30,000 to theaters, music venues, spectator sports venues, museums, and other entertainment venues. The amount of individual grants to eligible businesses will be determined by the business’ loss of revenue in 2020.
- Lodging Grant: This program will provide grants of $10,000, $20,000, or $30,000 to hotels, motels, and bed and breakfast operations. The amount of individual grants to eligible businesses will be determined by the business’ decline in occupancy rate in 2020.
- New Small Business Grant: This program will provide grants of $10,000 to small businesses that were established between Jan. 1, 2020, and Dec. 31, 2020.
Each program will require applicants to have an OH|ID. Businesses that plan to apply can get an OH|ID now, if they don’t already have one. Register at OH|ID (ohid.ohio.gov) by creating an account with a username/password. For help with the process, click here.
American Rescue Plan
The American Rescue Plan Act provides additional relief for the nation’s small businesses and hard-hit industries for programs the SBA is currently administering and adds new efforts, including:
- $7.25 billion additional for the Paycheck Protection Program, including to expand eligibility to additional nonprofits and digital news services
- Additional funds are allocated for the Shuttered Venue Operators Grant program, and now allows businesses to apply for both a PPP loan after Dec. 27, 2020, and the SVOG
- $15 billion additional for Targeted Economic Injury Disaster Loan Advance (EIDL) payments, including NEW $5 billion for Supplemental Targeted EIDL Advance payments for those hardest hit
- NEW: $28.6 billion for the Restaurant Revitalization Fund for industry-focused grants. The program provides funding to help restaurants and other eligible businesses keep their doors open. This program will provide restaurants with funding equal to their pandemic-related revenue loss up to $10 million per business and no more than $5 million per physical location. Recipients are not required to repay the funding as long as funds are used for eligible uses no later than March 11, 2023.
Registration for the Restaurant Revitalization Fund application portal will begin at 9 a.m. Friday, April 30. Applications can be accessed beginning at noon Monday, May 3.
Sign up to receive email alerts from SBA as additional information about the Restaurant Revitalization Fund becomes available.
- The U.S. Small Business Administration is accepting applications for its Community Navigator Pilot Program. This new initiative will leverage a community navigator approach to reach the nation’s smallest businesses, with a priority focus on those owned by socially and economically disadvantaged individuals, as well as women and veterans. SBA will accept applications through July 12 and anticipates making award decisions by August 2021.
SBA’s current relief efforts can be found at www.sba.gov/coronavirusrelief.
ECDI Small Business Loans
BG Revitalization Loan Program
Bowling Green Economic Development would like you to be aware of a special 0% interest loan available to merchants. Loan amounts will be for $2,000 to $10,000 – First 6 month are payment-free, followed by 12 monthly repayment installments. If you would like the application emailed to you or if you have any questions, contact the Bowling Green Economic Development office at 419-353-3591 or email firstname.lastname@example.org.
Online Liquor Permit Renewal Portal Now Live
The Division of Liquor Control now offers liquor permit holders the ability to renew their permits online. With just a few clicks, permit holders can apply, pay any fees, and print an “authority to operate” document in a matter of minutes.
Ohio Bureau of Workers' Compensation Safety Newsletters
The Ohio BWC Division of Safety & Hygiene puts out monthly safety updates to keep your business informed. You can view each month's edition online.
Supporting Local Ohio Businesses
Ohio.org supports our state’s tourism industry to drive economic prosperity throughout Ohio. We feel that this website would offer a place for many of our Investors to advertise their business and/or events. The website is not only used by tourists, but also by locals and is open to big and small businesses, restaurants, artists, retailers, events and more. The best thing about this website is that it is FREE! We encourage you to take some time to see if you think your business would benefit from this free online advertising opportunity.
If your business is selected to be published on the website, please let us know so that we can share that information with our other Investors.