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OH
Ohio Collateral Enhancement Program (CEP)
Helps Ohio small businesses obtain loans by pledging cash collateral deposits to lending institutions to cover collateral shortfalls. The state deposits up to 30% (or 50% for minority-owned businesses) of the loan amount with the lender. Maximum supported loan amount is $5 million.
About this program
Visit the program website for full details.
Eligibility
Ohio-based businesses that need access to capital but face a collateral shortfall with their lender. Lender must be a participating financial institution. Minimum loan amount for working capital is $100,000.
Requirements
- Business must be located in Ohio
- Lender must be a participating financial institution
- Minimum loan amount of $100,000 for working capital