Ohio small business loans could be an increasingly effective tool to make use of the state’s continuous development. Secretary of State Jon Husted recently praised local growth in a statement outlining Ohio’s progress since 2010.
According to him, 2016 marked the seventh consecutive year for new filing growth, with 105,009 new business filings in this most recent year. This represents a 7,263 increase in filings, which is exactly 3,292 more than the increase between 2014 and 2015.
In practical terms, this means more businesses are opening up within the state, and that Ohio continues to uphold its reputation as a state with strong business. Secretary Husted said that the news reflects the opportunities in Ohio for newcomers to business.
“Ohio continues to uphold its reputation as a state with strong business.”
“We are offering better services to entrepreneurs at a lower cost and as a result, more are choosing Ohio for their new business than ever before,” he stated.
A later release from Husted’s office said that he was granting Neat Streak in Columbus the distinction of a featured business, showing his efforts to highlight local entities.
With this accomplishment getting the state noticed, entrepreneurs may feel a desire for their own loans to be a part of the growth. The Ohio 166 Regional Loan Program works as a source of capital as well as a way to strengthen business within the state as a whole.
For example, this program requires for-profit businesses to create a new job for every $50,000 of the loan, with a maximum of 10. There are also low interest rates for distressed economic communities, granting an added reason to base businesses in those areas. As these ventures grow, they could have a positive effect around them.
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