BEGIN:VCALENDAR VERSION:2.0 PRODID:-//ChamberMaster//Event Calendar 2.0//EN METHOD:PUBLISH X-PUBLISHED-TTL:P3D REFRESH-INTERVAL:P3D CALSCALE:GREGORIAN BEGIN:VEVENT DTSTART:20170511T140000Z DTEND:20170511T153000Z X-MICROSOFT-CDO-ALLDAYEVENT:FALSE SUMMARY:Business Basics May DESCRIPTION:Business Basics\, a workshop held monthly. The sessions cover the basics of operating a business. Allen McConnell\, Manager Minority Business Development Division will be presenting. Our targeted audience is business owners.\n\n\n\nOhio Minority Business Bonding Program\n\n\n\nThe Minority Business Bonding Program provides bid\, performance\, and payment surety bonds to state certified minority-owned businesses that are unable to obtain bonding through standard surety companies. To be eligible for this program\, the project must be economically feasible\; and the minority business must not have defaulted on a previous bond issued by the Ohio Development Services Agency.\n\nThe maximum bonding line pre-qualification is $1 million per business. The premium for each bond requested is 2 percent of the face value of the bond. The business must demonstrate the benefit to Ohio residents by increasing employment opportunities. The collateral and/or security are the personal guarantees of the principals and persons substantially involved in business operations\, and other such collateral as warranted.\n\n\n\nOhio Minority Business Direct Loan Program\n\n\n\nThe program provides fixed\, low-interest rate loans to certified minority-owned businesses that are purchasing or improving fixed assets resulting in creating new jobs for Ohioans. The Minority Business Direct Loan Program determines the eligibility of a business by:\n\n\n Evaluating the number of jobs created or retained\;\n Participation of the business and a conventional lender in the project and\;\n Demonstrating that the State's assistance is necessary in order for the project to go forward.\n\n\nIn its review of loan applications\, the office also evaluates the management capacity of the company\, the availability of working capital\, and the overall ability of the company to repay its debt. These criteria are designed to provide a more definitive review of the applicant's need and capabilities.\n\nThe State's financing is take-out financing. In other words\, the business will need to complete its project utilizing interim financing from a conventional lender\, and its equity. When the project is completed\, the State's funds will be released. X-ALT-DESC;FMTTYPE=text/html:

Business Basics\, a workshop held monthly. The sessions cover the basics of operating a business. Allen McConnell\, Manager Minority Business Development Division \;will be presenting. \;Our targeted \;audience is business owners.
\n
\nOhio Minority Business Bonding Program
\n
\nThe Minority Business Bonding Program provides bid\, performance\, and payment surety bonds to state certified minority-owned businesses that are unable to obtain bonding through standard surety companies. \; To be eligible for this program\, the project must be economically feasible\; and the minority business must not have defaulted on a previous bond issued by the Ohio Development Services Agency.

\n\n

The maximum bonding line pre-qualification is $1 million per business. \; The premium for each bond requested is 2 percent of the face value of the bond. \; The business must demonstrate the benefit to Ohio residents by increasing employment opportunities. The collateral and/or security are the personal guarantees of the principals and persons substantially involved in business operations\, and other such collateral as warranted.
\n
\nOhio Minority Business Direct Loan Program
\n
\nThe program provides fixed\, low-interest rate loans to certified minority-owned businesses that are purchasing or improving fixed assets resulting in creating new jobs for Ohioans. The Minority Business Direct Loan Program determines the eligibility of a business by:

\n\n\n\n

In its review of loan applications\, the office also evaluates the management capacity of the company\, the availability of working capital\, and the overall ability of the company to repay its debt. These criteria are designed to provide a more definitive review of the applicant'\;s need and capabilities.

\n\n

The State'\;s financing is take-out financing. In other words\, the business will need to complete its project utilizing interim financing from a conventional lender\, and its equity. When the project is completed\, the State'\;s funds will be released.

\n\n

 \;

\n LOCATION:African American Chamber 2945 Gilbert Ave Cincinnati\, OH 45206 UID:e.717.4153 SEQUENCE:3 DTSTAMP:20260406T231241Z URL:https://members.theaachamber.com/events/details/business-basics-may-4153 END:VEVENT END:VCALENDAR