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Ohio $18 Million Loan Grows Local Economy

Building a small business takes a lot of talent, endurance, and in most cases capital. According to the Small Business Association (SBA), almost half of Americans work for, or own a small business. In fact it is estimated that over 60 million citizens will be self-employed in the next few years. But these businesses will not be able to survive by talent and desire alone, they need funding. That’s why the US Treasury Department and state governments have come together to create more small business loans.

Ohio businesses were granted over $18.7 million in federal funding this month, thanks to the Small Business Credit Initiative. The initiative is designed to help small businesses access capital to encourage job growth and creation. So far, more than $55 million in initiative funds have been given to the Ohio Development Services Agency that supports the economy through small business. Director of the Small Business Credit Initiative, Jeffrey Stout, says that its mission is to connect small businesses to a ready supply of capital. The program is projected to create or retain almost 7,000 jobs.

This initiative in Ohio is just one more example of how small business funding can encourage more business growth and job creation. And although the economy has rebounded, many small businesses still need help. According to a Bank of America small business survey, about two-thirds of small businesses are still recovering from the economic crisis. Small companies don’t have boards or extensive backing to guarantee or infuse cash into their businesses when times get tough. In the past, small businesses would have to go through extensive application processes to get approved for a loan. Now small businesses can rely on online merchant services for small to medium sized loans. is the number one online merchant that specializes in business funding. EMB has a fast and simple loan application process, and to get a loan approved businesses need only make $2,500 per month. Merchant services experts are available 24 hours to assist clients. Our merchants specialize in providing business funding for every type of businesses no matter the credit history or business experience.