Low-interest loans for small businesses reach $30 million
Tuesday, May 13, 2008
Low-interest loans granted to small businesses both locally and statewide through a program offered by the Ohio state treasurer's reached $30.3 million in April, a record, officials said.
Recipients included several area businesses, according to Ohio State Treasurer Richard Cordray's office. In March, Cordray's office made $18.8 million in loans, a record-setting performance until April.
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"Our goal is to infuse an average of $20 million each month into Ohio's small businesses and help promote job creation through providing businesses with the critical cash flow they need to get through growth periods," Cordray said.
The loans were made through a program dubbed GrowNOW. The program offers a three percent interest-rate reduction on loans to small businesses that generate or retain jobs.
Local recipients included:
• Butler County: Chuck Flaum's Junkyard of Floors & More LLC and CFM – Ameristop;
• Clark County: True Cut Tool Co. Inc.;
• Darke County: Klingshirn And Sons Trucking Inc.; WK Trucking LLC;
• Miami County: SK Mold and Tool Co.; and
• Montgomery County: Reichard Buick Pontiac; Muha Construction Inc.; Sandy's Auto Truck Service Inc.; Steno-Medical Transcription Services, Inc.; Mound Laser Photonics Center Inc.; Roofing by Insulation Unlimited Inc.
Contact this reporter at (937) 225-7317 or ttresslar@DaytonDailyNews.com.
