GrowNOW Program Offers Interest Rate Reduction for Businesses Creating and Retaining Jobs in the State

In partnership with Ohio's state depository banks, the Ohio Treasurer’s office offers the GrowNOW program, providing small businesses with a 3 percent interest rate reduction when these loans go to support the creation or retention of jobs in Ohio.

Businesses must be approved for a loan with an eligible bank (most major banks in the state are eligible).  The Treasurer then places a deposit at the lending bank at a 3 percent rate reduction.  The goal of the program is to make borrowing affordable for Ohio’s small businesses when they create and retain jobs.

To be eligible, the business must be a for-profit company operating within the state, with fewer than 150 employees, the majority of which reside in Ohio. 

Click here to learn more about the GrowNOW program and determine if a company loan is eligible.