Morrow County, Ohio
Since its founding on July 30, 1953, the U.S. Small Business Administration has delivered millions of loans, loan guarantees, contracts, counseling sessions and other forms of assistance to small businesses. SBA provides assistances primarily through its four programmatic functions:
• Access to Capital (Business Financing)
• Entrepreneurial Development (Education, Information, Technical Assistance & Training)
• Government Contracting (Federal Procurement)
• Advocacy (Voice for Small Business)
The Ohio Small Business Development Centers is a public / private partnership supported in part by the U.S. Small Business Administration, Ohio Development Services Agency, North Central State College and other local partners. We are part of America’s SBDC national network comprised of over 1000 Centers across the U.S. including 28 in Ohio. The Ohio SBDC Network provides one-on-one advising, by Certified Business Advisors, at no cost and conduct no or low cost business training. We focus on all industries and business needs from seed to maturity and everything stage in-between. And for those in Manufacturing and Technology, International Trade and Latino businesses you’ll be happy to know we have an Advisor dedicated to each of your specific needs.
SCORE Columbus was established in April 1965 and serves the Central Ohio region, and is part of SCORE, a national nonprofit association dedicated to the success of the nation's small businesses. Our SCORE Counselors are experienced business owners and managers who volunteer their experience and knowledge to help potential and existing small business owners achieve success.
Morrow County has access to numerous small business partners to help entrepreneurs be as competitive as possible.
OHIO DEVELOPMENT SERVICES AGENCY
The State of Ohio recognizes the need to encourage, nurture and support the growth of economically and socially underutilized businesses to foster their development. The EDGE Program provides an "EDGE" to small businesses by Encouraging Diversity Growth and Equity in public contracting. EDGE is an assistance program for economically and socially disadvantaged business enterprises.
EDGE establishes goals for state agencies, boards and commissions in awarding contracts to certified EDGE-eligible businesses. An EDGE participant must be a business enterprise located in a qualified census tract or, the business may qualify if the owner meets the established program criteria for socially and economically disadvantaged individuals.
The State of Ohio's Minority Business Enterprise (MBE) Program is designed to assist minority businesses in obtaining state government contracts through a set aside procurement program for goods and services. The State of Ohio developed the program because it is committed to making all state contracts, services, benefits and opportunities available without discriminating on the basis of race, color, religion, sex, national origin, disability, age or ancestry. MBE establishes a 15 percent goal for state agencies, boards and commissions in awarding contracts to certified MBE businesses. In order to be certified as a MBE, the business must be in business at least one year prior to applying for certification and owner(s) must be members of one or more of the following groups: Blacks, American Indians, Hispanics and Asians.
The Ohio Statewide Development Corporation (OSDC) is a private, not-for-profit corporation founded in 1982 to provide financing to Ohio small businesses by acting as an agent or conduit for public financing programs. OSDC is a certified development company (CDC) licensed by the U.S. Small Business Administration (SBA) to provide low-cost, long-term SBA loans to eligible small businesses in Ohio.
OSDC is also an Ohio 166 Regional Loan provider as designated by the Ohio Department of Development. Our mission is to make low-interest loans to small businesses for buildings, equipment and leasehold improvements. Until January of 2000, OSDC provided this service as an adjunct to the Ohio Department of Development and was located inside ODOD and staffed by ODOD personnel.
Certified by the Small Business Administration, CCDC links borrowers with the best lending resources. This helps give small businesses the advantage in today’s highly competitive marketplace.
Through our long-standing partnerships with lenders, we’re committed to providing:
• Low down payments
• Competitive interest rates
• Long-term financing
• Economic development opportunities
The organization supports loans for new and established businesses. Many of their other services can help develop a new business into a loan-ready client. ECDI provides the tools, technical assistance and support for businesses to succeed.
Economic Development Revolving Loan Fund (EDRLF)
The County's Revolving Loan Fund provides loans to businesses for start-ups and expansions, resulting in more jobs for low- and moderate-income persons.
The Revolving Loan Fund is used as a supplement to private funding for businesses conducting start-ups and expansions. These low- interest loans generate a job for each $50,000 loaned. This program reduces the incidence of poverty in the County by developing jobs that must be filled by low- to moderate-income persons (using Morrow County Median Income Eligibility Guidelines). Security is required. It is anticipated that the program will generate new jobs annually for persons at low- to moderate-income levels.