Ohio treasurer touts small biz program Thursday

Ohio treasurer touts small biz program Thursday

YOUNGSTOWN — Ohio’s treasurer and attorney general were to be in Youngstown on Thursday with the former touting a state program to help small business owners and the latter to officially open an office in the city.

Ohio Treasurer Richard Cordray, a Franklin County Democrat, will discuss a state program that helps small business owners obtain loans at a reduced interest rate.

The Small Business Linked Deposit program offers loans of up to $250,000 at 3 percent below the prime interest rate to qualified small business owners.

The program was implemented in 1983, but became virtually dormant at the turn of the century because interest rates were low, said Holly Hollingsworth, Cordray’s spokeswoman.

With interest rates rising, Cordray wants to draw attention to the program, she said.

For the complete story, see Thursday’s Vindicator and Vindy.com.