These past two months have been a very exciting time for OCDCA and its members.
Late last month, through the use of an impartial review committee, we awarded grants to fourteen members for their microbusiness programs through the Ohio Microbusiness Development Program.
The purpose of the Ohio Microbusiness Development Program is to provide funding for CDCs to further develop a local delivery system that encourages microbusiness development, provides low- and moderate-income households with access to capital for business development and self-employment, and creates and retains long-term jobs in the private sector.
Funding for this can be in the form of either training or technical assistance, or direct assistance to the business in the form of a loan, with loan funds repaid into a local microbusiness revolving loan fund. Funding for this program comes from Ohio Development Services Agency with additional support for OCDCA’s Recoverable Grant Fund through a significant gift from Fifth Third Bank with additional support from US Bank Foundation. View a list of all the OCDCA funders.
Vinton County Economic Development Board
Congrats to all of the selected organization! For more information about the Ohio Microbusiness Development Program, please contact Nate Coffman at ncoffman AT ohiocdc.org.