Helping Ohio's Small Businesses GrowNOW

  State Treasurer Josh Mandel: Helping Ohio's Small Businesses GrowNOW

GrowNOW, brought to you by State Treasurer Josh Mandel, enables small business owners to receive a 3% interest rate reduction on new or existing small business loans for two years with the opportunity for renewal. The program is a partnership between eligible banks and the Ohio Treasury. Small business owners must commit to the creation or retention of at least one full-time job or two part-time jobs in the state of Ohio for every $50,000 borrowed, up to $400,000. GrowNOW broadly serves as a catalyst for Ohio's economic development by supporting the small businesses that drive it.

Eligible business owners must meet the following criteria:

·         MUST be able to save or create 1 full-time or 2 part-time jobs in Ohio for every $50,000 borrowed

·         MUST have headquarters in Ohio

·         MUST have less than 150 employees

·         MUST have a majority of employees be Ohio residents

·         MUST be organized for profit

·         MUST maintain offices and operating facilities in Ohio

Questions? Visit State Treasurer Josh Mandel's GrowNOW website at
www.GrowNOW.ohio.gov or call 1-800-228-1102, option #3.