Microlender introduces $10M targeted Ohio COVID-19 loan fund

The Ohio Development Services Agency (ODSA) is launching a $10-million revolving loan fund “to help women- and minority-owned businesses recover from the coronavirus fallout,” the Dayton Business Journal reports. Microlender Economic and Community Development Institute (ECDI) will administer the funds, loaning “up to $350,000 apiece to businesses at 2% interest,” according to the article. ECDI founder and CEO Inna Kinney said the nonprofit “aims to increase the fund by many multiples, kicking off a fundraising campaign to match the state dollars from the banks and local governments it works with.” For more, read the full article.

State Updates