Studies show that minorities own an estimated 29 percent of classifiable businesses, which are growing at twice the rate of non-minority businesses. Is yours on track to be on the side of success?
If you’re based in Ohio, minority businesses have multiple state-funded resources to help with critical needs such as business development, training, getting loans, bonds and more. Knowing your options can help you get your fledgling organization off the ground, or your growing business to the next level.
But what is considered a minority-owned business; do you meet that state’s qualifications?
The Ohio Development Services Agency defines a minority-owned business as a company that is owned and controlled at least 51 percent and for more than one year by an Ohio resident and U.S. citizen who belongs to one of the following ethnic groups: African American, Asian, Hispanic or Native American.
If you meet these criteria, read on to learn more about state-funded resources for minority-owned businesses in Ohio that may be beneficial to your operation’s growth.
State Resources For Minority-Owned Small Businesses
There are two main state-funded programs offered to assist minority-owned businesses in Ohio: the EDGE program and the Minority Business Enterprise (MBE) program.
EDGE program:
The State of Ohio’s Encouraging Diversity, Growth, and Equity (EDGE) program is the counterpart to the federal SBA 8(a) loan program. Designed to assist economically and socially disadvantaged business enterprises, EDGE provides mentorship, business education, training, and possible loan opportunities.
Eligible businesses can take part in this program for 10 years, so long as they still meet the eligibility requirements. Businesses receive an EDGE certification once they graduate from the program.
Minority Business Enterprise program:
The MBE program helps minority businesses thrive by assisting in obtaining government contracts. Joining this program benefits companies with contract opportunities and business planning assistance, as well as provides access to special loan and bond programs.
In addition to meeting the criteria of being a minority-owned business as defined above, an MBE-certified business must meet additional qualifications.
Applications for either the EDGE or MBE program certifications can be found online through the Ohio Business Gateway.
Loan Program Resources For Minority-Owned Small Businesses
Additionally, there are four loan programs notably set up to assist minority-owned and economically disadvantaged small businesses gain the financial assistance they need to grow.
Capital Access Program:
The Capital Access Program is a loan portfolio insurance program that helps small businesses secure loans by establishing reserve accounts at lending institutions. It mitigates some of the lending bank’s risk by providing deposit money for the loan.
This program can pay out up to $350,000 for fixed-asset loans and up to $250,000 for working capital loans.
Collateral Enhancement Program (CEP):
The CEP helps facilitate financing by banks to small and minority-owned businesses that don’t have the necessary collateral to secure a traditional loan, also reducing the risk to bank providers through supplied deposit collateral.
CEP can payout loans up to $5 million.
Minority Business Bonding Program:
Businesses must be MBE certified to qualify for the Minority Business Bonding Program, which assists with bid, performance, and payment surety bonds for those businesses unable to obtain bonds through standard surety companies.
The maximum bonding line prequalification is $1 million per business.
Minority Business Direct Loan Program
The Minority Business Direct Loan Program provides fixed, low-interest-rate loans for MBE-certified businesses that are purchasing or improving fixed assets resulting in creating new jobs for Ohioans. The State’s financing is take-out financing—meaning the business will need to complete its project utilizing interim financing from a conventional lender, and its equity, with program funds released upon project completion.
With a minimum direct loan amount set at $45,000, the maximum participation by the program is based on financing needs, not to exceed 75 percent of eligible project costs.
Federal Resource For Minority-Owned Small Businesses
At the federal level, minority-owned businesses have access to Section 8(a) Business Development program. Similar to the EDGE program, this federally-run program assists disadvantaged businesses, not just minority-owned, through mentorship, educational training, and possible funding.
It awards 5 percent of all funds to disadvantaged small businesses and offers certification for its participants.
Additional Resources For Minority-Owned Small Businesses
With various state and federal programs available to assist your minority small business, you can more easily get a new business idea up and running or grow an existing company to the next level.
If you’re still unsure where to start, or which program is right for your needs, the Minority Business Assistance Centers (MBAC) and Small Business Development Centers (SBDC) are additional excellent resources available within Ohio to guide your business to success. Both can provide counseling, training, and assistance around a variety of needs, including referrals to financial assistance programs.
Is your minority-owned business in Ohio in need of loan assistance? Discover the best options available for your business today through SBA-certified, not-for-profit loan provider Growth Capital. For more information, contact one of our loan experts at (216) 592-2332 or visit us online.
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10배스탁론
로드스탁과 레버리지 스탁: 투자 전략의 참신한 영역
로드스탁에서 제공하는 레버리지 스탁은 주식 투자법의 한 방법으로, 큰 이익율을 목적으로 하는 투자자들을 위해 매력적인 옵션입니다. 레버리지를 사용하는 이 전략은 투자자들이 자신의 투자금을 초과하는 자금을 투입할 수 있도록 함으로써, 증권 시장에서 더욱 큰 영향력을 가질 수 있는 기회를 줍니다.
레버리지 스탁의 기본 원칙
레버리지 스탁은 일반적으로 자본을 대여하여 투자하는 방식입니다. 사례를 들어, 100만 원의 투자금으로 1,000만 원 상당의 증권을 사들일 수 있는데, 이는 투자자가 기본적인 투자 금액보다 훨씬 더 많은 증권을 사들여, 증권 가격이 올라갈 경우 상응하는 훨씬 더 큰 이익을 획득할 수 있게 합니다. 하지만, 증권 가격이 떨어질 경우에는 그 손실 또한 크게 될 수 있으므로, 레버리지를 이용할 때는 신중해야 합니다.
투자 계획과 레버리지 사용
레버리지 사용은 특히 성장 잠재력이 상당한 기업에 투입할 때 효과적입니다. 이러한 기업에 상당한 비중으로 적용하면, 성공할 경우 큰 수입을 가져올 수 있지만, 그 반대의 경우 상당한 리스크도 짊어져야 합니다. 그러므로, 투자자들은 자신의 위험성 관리 능력과 시장 분석을 통해, 어떤 회사에 얼마만큼의 투자금을 투입할지 선택해야 합니다.
레버리지 사용의 이점과 위험 요소
레버리지 스탁은 큰 수익을 약속하지만, 그만큼 상당한 위험도 따릅니다. 주식 시장의 변동은 예상이 힘들기 때문에, 레버리지를 이용할 때는 늘 시장 동향을 세심하게 살펴보고, 손해를 최소로 줄일 수 있는 계획을 세워야 합니다.
결론: 신중한 고르기가 필수입니다
로드스탁을 통해 제공된 레버리지 방식의 스탁은 강력한 투자 도구이며, 잘 사용하면 많은 수익을 벌어들일 수 있습니다. 그렇지만 높은 위험성도 신경 써야 하며, 투자 선택은 필요한 사실과 신중한 고려 후에 실시되어야 합니다. 투자하는 사람의 재정적 상태, 위험을 감수하는 능력, 그리고 시장 상황을 생각한 조화로운 투자 방법이 중요합니다.