State Representative Anne Gonzales (R-Westerville) today applauded the success of the Capital Access Loan Program in assisting job growth and retention within the 19th Ohio House District.

This program is a public-private partnership that helps new and small businesses obtain bank financing. It allows the borrower, the financial institution and the Ohio Department of Development to contribute a specified percentage of the loan amount to the Program Reserve Account, which provides added security and enables banks to provide loans to firms that may not otherwise qualify.

Within the 19th Ohio House District, two participants in the Capital Access Loan Program—Midwest Documentation, Inc. and Penial Ethiopian Evangelical Church—have effectively created and retained jobs at a very minimal state cost.

“It is encouraging in these economic times that companies are taking advantage of the Capital Access Loan Program,” said Gonzales. “These companies are demonstrating that there is help available for the new and small business owner to grow and be vital to the future of Ohio.”

To date, this loan program has created and retained 93 jobs within the 19th District.


Post a Comment