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Ohio Minority Business Direct Loan Program
Minority-Owned · Ohio Department of Development - Minority Business Development Division · OH
The Ohio Minority Business Direct Loan Program is a state-run fixed-rate direct loan — not a grant — offered by the Ohio Department of Development to help certified Ohio Minority Business Enterprises finance projects like equipment purchases and expansion, with loans starting at $45,000 and covering up to 75% of eligible project costs.
The Ohio Minority Business Direct Loan Program is a state-run financing program administered by the Ohio Department of Development's Minority Business Development Division. Despite the word 'grant' appearing in some program listings, this is actually a direct loan program, not a cash grant — meaning funds must be repaid, typically at a fixed interest rate.
The program provides direct loans of at least $45,000, covering up to 75% of eligible project costs. These funds are intended to help state-certified Ohio Minority Business Enterprises finance costs such as equipment purchases and business expansion. The program specifically targets businesses engaged in commerce, manufacturing, research and development, or distribution.
This program exists to help minority-owned businesses in Ohio grow and expand, particularly those that may have difficulty accessing financing through conventional bank loans. By offering fixed-rate loans through a state agency, the program aims to reduce barriers that minority entrepreneurs sometimes face when seeking capital for equipment or expansion projects.
For a small-business owner, this could be a useful financing option if you run a certified minority-owned business in Ohio and need capital for a specific project like buying equipment or expanding operations. However, because it is a loan rather than a grant, you should carefully consider repayment terms and your business's ability to service debt before applying.
Eligibility, current interest rates, exact loan terms, and application deadlines can change, so applicants should confirm all current details directly with the Ohio Department of Development before applying.
Who qualifies
How to apply
Questions people ask
Is this a grant or a loan?
This is a direct loan program, not a cash grant, despite sometimes being labeled with the word 'grant.'
Do I have to repay the money?
Yes, this is a fixed-rate direct loan and must be repaid according to its loan terms.
Who is eligible?
State-certified Ohio Minority Business Enterprises engaged in commerce, manufacturing, research and development, or distribution.
How much funding can I get?
Loans start at a minimum of $45,000 and can cover up to 75% of eligible project costs.
What can the funds be used for?
The summary mentions eligible project costs such as equipment and expansion; confirm specific eligible uses at the official source.
What is the deadline to apply?
The deadline is listed as 'check current rounds' — confirm current application windows at the official state site.
Who runs this program?
The Ohio Department of Development's Minority Business Development Division administers this program.
Is this available outside Ohio?
No, this program is limited to businesses in Ohio.
Where do I apply?
Apply through the official Ohio Department of Development page at the link provided in this listing.
Is the loan taxable?
This is not addressed in the available information; confirm at the source.
Do I need to be certified before applying?
Yes, eligibility requires state certification as an Ohio Minority Business Enterprise.
Is there an interest rate?
The loan is described as fixed-rate, but the exact rate is not specified; confirm at the official source.
What industries qualify?
Businesses in commerce, manufacturing, research and development, or distribution are eligible.
Opportunity number: not published. Source: curated + verified (official state source, 2026). GetFundedUSA is independent and not affiliated with Ohio Department of Development - Minority Business Development Division; always confirm current deadlines, amounts and eligibility on the sponsor's own page before applying.