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OHIO MICRO-LOAN PROGRAM

OHIO MICRO-LOAN PROGRAM . PROGRAM Guidelines I. Statement of Purpose The Ohio MICRO-LOAN PROGRAM , which shall be referred to as MICRO-LOAN or PROGRAM , is a MICRO-LOAN PROGRAM that is designed to stimulate the growth of new and existing businesses in the state of Ohio at 0% interest rate. The PROGRAM is part of the Minority Business Development Division's effort to promote economic development, business expansion, and job creation and/or retention by providing an alternative source of financing to minority- and woman-owned small businesses that otherwise do not have ready access to traditional lending sources.

Oct 25, 2021 · C. Interest Rate: 0% interest rate for the full term of the loan. D. Equity Contribution: No cash equity contribution will be required. E. Collateral: A UCC-1 / blanket lien all business assets or other collateral valued at 100% of the proposed loan request will be required where applicable.

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