Provides collateral to help small businesses secure loans.
Provides lending institutions with cash collateral deposits to use as additional collateral support for loans made to small businesses. A project is eligible when the value of the available collateral is insufficient to secure the loan. The collateral makes the loan less risky for the lending institution.
Small and minority-owned businesses. However, collateral is delivered directly to lending institutions.
Minority Business Development Division, Normy Fehrman, (614) 466-5107
Up to $1.5 million and up to 30 percent of loan amount (50 percent for HubZone or certified minority-owned businesses)
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