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A state program that provides growth assistance to small businesses enjoyed a record-breaking funding month in April.
Treasurer Richard Cordray said more than $30.3 million was distributed to small businesses in April through the GrowNOW program. The assistance was provided in the form of a 3 percent interest rate reduction on loans for job creation and retention.
"Our goal is to infuse an average of $20 million each month into Ohio's small businesses and help promote job creation through providing businesses with the critical cash flow they need to get through growth periods," Cordray said. "Clearly, months like April are a huge stride in achieving that goal."
All told in April, 143 new program recipients were provided assistance with the potential to create or retain 1,234 full-time and 93 part-time jobs.
Applications for coming grant cycles are now available online at www.GrowNOW.ohio.gov. Eligible small businesses must be organized for profit, have fewer than 150 employees and must have offices and operating facilities within Ohio's borders.
