Although they may face funding challenges, one Ohio woman business owner says that recent changes have made things easier for women who want to run their own venture. At the very least, these changes may have brought new opportunities for possible owners to consider, as long as entrepreneurs look at all the available government grants for small businesses.
Theresa Hammons of Ashley’s Pastry Shop spoke to the Dayton Business Journal about her experience operating a bakery in Ohio. Although she advises possible owners to do the necessary research to prepare, she also mentioned that she now finds it easier to access support. For other entrepreneurs, this growth in opportunity could be the impetus needed to take a chance.
“I no longer feel like I have to prove myself in this industry any more than my male counterparts do,” Hammons said. “Now, women have much greater ability to start their own business. It’s easier to get financing and there are more resources available.” Before she and her husband purchased their bakery, they had lived in Cincinnati.
“Those who want to follow Hammons’ footsteps may want a source of capital for updating an existing building.”
Those who want to follow Hammons’ footsteps may want a source of capital for updating an existing building. The Ohio 166 Regional Loan Program includes improvements and renovations among the list of possible uses for its fixed asset financing options.
This program comes with a few advantages, including loans as high as $500,000 and finances that can account for as much as 50 percent of a given project.
While point of sale businesses are not eligible for this loan, it could apply to service companies, as well as manufacturing and commerce businesses, to name a few. In some communities, applicants can obtain interest rates as low as 3 percent.
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