Ohio Awards $1.1 Million to Small Businesses, Boosting Local Economies and Job Creation
COLUMBUS, Ohio — Four small businesses across Ohio are set to receive a combined $1.1 million in state funding aimed at fostering growth and creating new employment opportunities. The Ohio Department of Development announced the grants on Tuesday, highlighting the impact these funds will have on local economies.
The loans, approved by the Minority Development Financing Advisory Board, will support businesses in Franklin, Clermont, and Cuyahoga counties. Lydia Mihalik, director of the Ohio Department of Development, emphasized the state’s commitment to nurturing entrepreneurship.
“Every Ohio entrepreneur embodies grit, vision, and a desire to leave a lasting legacy,” Mihalik stated. “This funding empowers them to expand their operations, create jobs, and strengthen their communities.”
The grants are part of Ohio’s ongoing efforts to support small businesses, particularly those owned by women and minorities. Since January 2022, the state has invested nearly $28 million in over 300 businesses through various loan programs, including the Women’s Business Enterprise Loan Program and the Minority Direct Loan Program.
Breaking Down the Funding
Here’s how the $1.1 million will be distributed:
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Brand Equity Pro, LLC (Franklin County) – The marketing firm will receive $64,487 through the Women’s Business Enterprise Loan Program. The funds will be used to purchase a printer and create one full-time job.
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Native Tree Care, LLC (Clermont County) – The landscaping company has been granted $245,804 under the Women’s Business Enterprise Loan Program. This will enable the business to buy new equipment, refinance existing debt, and expand its operations.
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Sangfroid Strategy, LLC (Cuyahoga County) – The consulting firm was awarded $331,737 through the Women’s Business Enterprise Loan Program. The loan will help refinance debt and add five full-time positions to its workforce.
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Flairsoft, LTD (Franklin County) – The IT services company secured $532,500 under the Minority Direct Loan Program. The funds will be used to acquire office space in Columbus, create three new full-time jobs, and support additional roles.
A Boost for Local Communities
These investments are expected to have a ripple effect, stimulating economic activity and improving the quality of life in the communities where these businesses operate. For example, Native Tree Care’s expansion could lead to more green spaces and landscaping projects in Clermont County, while Flairsoft’s office acquisition will contribute to Columbus’s growing tech sector.
Ohio’s small business support programs remain open for applications, encouraging more entrepreneurs to take advantage of these opportunities.
For those interested in learning more about loan eligibility and how to apply, visit the Ohio Department of Development’s official website.
This latest round of funding underscores Ohio’s dedication to fostering a thriving business environment and ensuring that small businesses, often the backbone of local economies, have the resources they need to succeed.
— Reported by Nexio News
