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 City of Bowling Green’s Business Revolving Loan Fund, an implementation of the CDBG block grant program, has recently been modified by lowering the interest rate to 0% to encourage businesses within City Limits to apply. The purpose of the loans is to enhance local businesses and promote job growth targeting low-and moderate-income wage earners. For each $35,000 borrowed, the business must commit to generating one new job. Terms of the loans range from 3-5 years, and special terms are available for businesses located in the Downtown Special Improvement District.
“We feel that offering a zero percent loan to encourage job creation for low- and moderate-income individuals will help strengthen our community and provide a new source of funding for business growth. Our goal is to work in tandem with financial institutions to offer a variety of loans that will grow our local businesses and make Bowling Green a better place to live and work.” Says Martha Woelke, Community Development Administrator.
Contact the Community Development Department at 419-354-6203, or visit the City’s website: www.bgohio.org, for additional details.
Ohio Lt. Governor Jon Husted, who serves as Director of the Governor’s Office of Workforce Transformation, today announced the results of July’s round of TechCred in which 348 employers were approved for funding, providing the opportunity for Ohioans to earn 3,855 tech-focused credentials. This most recent round marks the 15th application period of the program with manufacturing and construction topping the list of industries applying for tech-infused credentials.
In July, Lt. Governor Husted announced that TechCred officially reached and exceeded the goal set in the state budget to fund 20,000 industry-recognized, tech-based credentials each year.
“TechCred has proven its importance to Ohio businesses and their employees, especially as we continue to see the program grow and be successful,” said Lt. Governor Husted. “Giving Ohioans the opportunity to upskill or reskill themselves is vital to our economy and workforce.”
“These awards show the DeWine-Husted Administration’s continued focus on building Ohio’s workforce,” said Lydia Mihalik, Director of the Ohio Department of Development. “To keep Ohio moving forward, we need a highly skilled workforce, resulting in better pay for workers and increased productivity for businesses.”
With the approvals announced today, a total of 1,958 Ohio employers have been approved for funding through the TechCred program, supporting the earning of 48,632 tech-focused credentials by employees.
“The TechCred program has made it possible for nearly 2,000 Ohio employers to thrive with a workforce that keeps up with changes in technology,” said Ohio Department of Higher Education Chancellor Randy Gardner. “These thousands of tech-focused credentials help keep our businesses – and our state – moving forward.”
The current TechCred application period opens on September 1st and will close on Friday, September 30th at 3:00 p.m. Businesses with employees who have completed their approved TechCred training should complete the reimbursement process at TechCred.Ohio.gov.
Learn more about the program at TechCred.Ohio.gov.
Grants Available Through the Small Business Relief Office
The grants and programs are:
- Ohio Micro-Loan Program: This loan program is designed to stimulate the growth of new and existing businesses by providing micro-loans at 0% interest. The minimum loan amount is $10,000 to a maximum of $45,000. Loans will be repaid within five years for permanent working capital and seven years for equipment.
- Women's Business Enterprise Loan Program: This loan program is designed to stimulate the growth of existing women-owned businesses by providing loans at market rate or below market rate interest (currently up to 3%). The minimum loan amount is $45,000 up to a maximum of $500,000. Loans will be repaid within 10 years for equipment and machinery and 15 years for owner-occupied real estate.
- Water and Wastewater Infrastructure Grant: This grant will provide nearly $250 million to improve access to clean drinking water and wastewater infrastructure. Grants will be up to $250,000 for design projects and up to $5 million for construction projects to Ohio communities. Public entities within a political subdivision with the authority to own and operate public water and sewer systems and nonprofit, non-community public water systems may apply. Funding for the program is provided by the American Rescue Plan Act.
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.
Efficiency Smart Bonus Incentives for Small Businesses
For a limited time, Efficiency Smart will reward small businesses with an increased incentive for purchasing qualifying LED bulbs or fixtures from a designated local supplier or contractor. Standard incentives still apply for all other qualifying purchases. Contact Efficiency Smart at 877-889-3777 to get started.
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.