Grove City Messenger - December 11th, 2022

PAGE 16 - GROVE CITY MESSENGER - December 11, 2022
Grove City
Messenger
We are the
BEST COMMUNITY NEWSPAPER
in Grove City
Pick-Up At
These Locations:
Village Municipal Building
3492 1st Ave. Urbancrest
Sheetz Gas Station - Broadway & Centerpoint
Turkey Hill - Broadway & Centerpoint
Speedway Gas Stateion - Boardway & I-270
Shell Gas Station - Broadway & I-270
United Dairy Farmers - Broadway & Southwest
CVS Pharmacy - Broadway & Southwest
Speedway Gas Station - Broadway & Southwest
Grove City Library - 3959 Broadway
Planks on Broadway - Broadway & Park St.
Mobile Gas Station - Broadway & Paul St.
Ernies Carry-Out - Broadway & Paul St.
BP Gas Station - Stringtown & Hoover
Krogers - Stringtown & Hoover
Walgreen’s - Stringtown & McDowell
CVS Pharmacy - Stringtown & McDowell
Drug Mart - Stringtown & McDowell
Speedway Gas Station - Stringtown & I-71
Dollar General - 3065 Broadway
Southwest Community Center
3500 1st Ave. Urbancrest
Kroger - Hoover & Route 665
Meijer - 665 & Hoover
Circle K - 665 & I-71
CVS Pharmacy - 665 & Hoover
Dollar General - 665 & Hoover
READ US ONLINE: www.columbusmessenger.com
www.columbusmessenger.com
Small business
funding available
The Ohio Department of Development
announced that up to $182 million will be
available to support small businesses in
Ohio.
“There is no better place to live, work,
and raise a family than in Ohio, and our
small businesses are a major reason why,”
said Governor Mike DeWine. “My administration
is dedicated to supporting the
small businesses that are so integral to our
state, especially those that need extra support
to get off the ground and become a
success.”
The funds are being awarded to Ohio as
part of the federal State Small Business
Credit Initiative (SSBCI). Ohio will initially
receive approximately $52.4 million to
support socially and economically disadvantaged
individuals, very small businesses,
and early-stage, technology-based companies.
The remaining funds will be made
available through multiple allocations as
the state meets expected performance targets.
The Department of Development will
administer the SSBCI program in Ohio
through the Minority Business
Development Division and the Ohio Third
Frontier, splitting the funding among four
programs that are expected to be available
by the end of 2022:
• The Community Development
Financial Institutions (CDFI) Loan
Participation Program will provide loans
to socially and economically disadvantaged
individuals, very small businesses, and
businesses located in CDFI tracts.
• The Ohio Collateral Enhancement
Program will provide collateral on small
business loans made by financial institutions
to allow small businesses to access
loans that otherwise would have been
denied.
• The Ohio Venture Fund will provide
capital to investment funds to invest in
early-stage, tech-based companies.
• The Early-Stage Focus Fund will complement
the existing Ohio Third Frontier
Pre-Seed Fund to support funds that target
investments to early-stage, tech-based
companies in underserved communities
and populations.
“Small businesses are the backbone of
the Ohio economy, and this money will
help ensure they are positioned to grow
and create good jobs across Ohio,”
Development Director Lydia Mihalik said.
“Our staff is working hard to stand up
these programs so the funding can flow to
businesses as soon as possible.”
The American Rescue Plan reauthorized
and expanded SSBCI, which was
originally established in 2010 to increase
access to capital for traditionally underserved
small businesses and entrepreneurs.
Additional details about the programs
are available at Development.Ohio.gov.