Help small businesses secure loans by establishing reserve accounts at lending institutions.
Program lessens a bank's risk by making a deposit of 10, 50 or 80 percent of the loan amount. The money is available to the bank in case the loan cannot be paid back by the small business.
Participants include financial institutions that provide loans to Borrowers
Minority Business Development Division, Normy Fehrman, (614) 466-5107
Up to $350,000 for fixed-asset loans and up to $250,000 for working capital loans
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