Ohio small business grants, loans and training funds (2026)

Where Ohio’s $182 million SSBCI allocation went

Treasury signed Ohio’s State Small Business Credit Initiative agreement on September 27, 2022, for $182,347,892. By December 31, 2025, Treasury had disbursed $116,599,695 to Ohio, and the state had deployed $87,677,074, or 48.1% of the full allocation ⁠⁴. Development is the implementing entity for all four programs, and Treasury’s list (data current as of August 25, 2026) shows the same four, all with one contact address, [email protected] ⁠².

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The CDFI/LPP adds a state companion loan of up to 30% of a CDFI’s financing package, capped at $1 million, on packages up to $20 million. It can fund working capital, inventory, equipment, property purchases and construction. The participating CDFIs are the Economic and Community Development Institute (ECDI), Valley Partners, Western Reserve Community Fund, Appalachian Growth Capital and Freedom Equity ⁠³.

The two venture programs do not invest in companies directly. The state lends to professionally managed funds, which then invest: $5 million to $10 million per Ohio Venture Fund manager and $1 million to $5 million per Early-Stage Focus Fund manager ⁠³. Development announced $86 million in commitments. Recipients include JumpStart’s Focus Fund II ($5 million, for businesses founded by, led by or serving communities of color), Rev1 Ventures’ Future Value Fund II ($3 million), BOLD Opportunities Fund I ($3 million, for under-represented founders) and CincyTech Fund VI ($10 million) ⁠⁶. If you run a tech startup, you pitch those funds, not the state.

How CEP covers a collateral shortfall

CEP is for a business that can repay a loan but does not have enough collateral to secure it. Development deposits cash into a pledged account at your lender (or makes an allocation for credit unions and CDFIs) ⁠⁵.

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You also need a debt coverage ratio of at least 1.1:1 for the business and 1.2:1 globally, and registration with the Ohio Secretary of State. New and existing businesses can qualify ⁠⁵. CEP cannot be used on an SBA-guaranteed loan, on a loan with no other collateral, or to buy out an owner ⁠⁵. If you default, the lender liquidates first and then claims the original deposit percentage of what is left. With a 30% deposit and $9,000 unpaid after liquidation, the claim is $2,700 ⁠⁵. You still owe the rest of the debt.

Development’s direct loans for certified minority- and women-owned firms

The Minority Business Development Division also lends its own money. These are repayable loans, and all three require a track record of revenue.

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Micro-Loans run up to five years for working capital and seven for equipment ⁠⁷. On the WBE and MBD loans, you put in at least 10% equity, Development covers at most 75% of the project, and a bank or other party supplies at least 15%. Both charge a $300 application fee plus a 1.5% commitment fee ⁠⁸⁠⁹. Because the Micro-Loan is capped at twice your most recent year’s revenue, a business with no sales cannot use it ⁠⁷.

TechCred’s October 2026 round and other grants for set costs

TechCred is Ohio’s largest employer training grant. It repays you after an employee earns an approved technology credential. The current window opened at 9 a.m. on October 1, 2026, and closes at 3 p.m. on October 30, 2026 ⁠¹⁰. Under the revised framework, an award covers up to $1,000 per person per credential and up to $30,000 per application. Each employer (by FEIN) gets one application per period ⁠¹⁰. To qualify, you need a physical, non-residential Ohio location and W-2 employees who are Ohio residents reported to the Ohio Department of Job and Family Services’ unemployment insurance office. 1099 contractors and public entities do not count ⁠¹⁰. Pick both the credential and the training provider from Development’s approved lists. Training must start on or after the first day of the application period and finish within 12 months ⁠¹⁰. For funding purposes, small employers are those with 1 to 50 employees ⁠¹⁰.

IMAGE is Ohio’s STEP-funded export grant. It repays 50% of approved export costs, up to $10,000 per program year (50% of $20,000 in spending). A separate export training grant repays 50% up to $5,000 ⁠¹¹. You need at least one year in business, products with at least 51% U.S. content, a written export strategy and SBA small-business size ⁠¹¹. Eligible costs include foreign trade shows, trade missions, EXIM credit insurance premiums, U.S. Commercial Service programs and translated marketing materials. Each activity must be approved before it happens. The program year runs October 1 to September 29, and awards go first-come, first-served, with a waitlist if funds run out ⁠¹¹.

Third Frontier money for licensed university technology

Development’s Third Frontier pages list no state SBIR/STTR matching or Phase 0 grant. The closest thing is the Technology Validation and Start-up Fund. Its Phase 2 pays up to $200,000 per project to an Ohio-based startup or young company that licenses (or is about to license) technology from an Ohio university, nonprofit research institution or federal lab ⁠¹². Phase 2 has no required cost share, but you need a principal place of business in Ohio under a lease of at least 12 months ⁠¹². Round 45 proposals were due May 7, 2026, with awards expected around July 2026 ⁠¹². Competition is real: in Round 44, 19 Phase 2 proposals came in, three were ruled non-conforming, and seven were recommended for a total of $1,400,000 ⁠¹³. You can apply up to three times for the same technology ⁠¹².

JobsOhio’s Small Business Grant runs through seven regional partners

JobsOhio, which is separate from the Department of Development, runs the Small Business Grant. It pays up to $50,000 per project, and the program is capped at $8 million a year ⁠¹⁵. This is a reimbursement grant tied to commitments: your payroll or employment must grow at least 10% (special consideration is possible for at-risk jobs). Jobs and investment are measured over three years and reported each March 1. If you miss your targets, JobsOhio can claw back the money ⁠¹⁵.

You must have at least one year of operations, at least $100,000 in revenue and less than $25 million (counting any parent company) ⁠¹⁵. You also need to be in one of JobsOhio’s 10 target industries, with mostly business-to-business sales. The industries are advanced manufacturing, aerospace and defense, automotive, chemicals, energy, financial services, food and agribusiness, healthcare, logistics and distribution, and technology ⁠¹⁴. Retail, residential, entertainment and other population-driven businesses are not eligible ⁠¹⁵. Eligible costs include buildings and leasehold improvements, machinery, rolling stock, industry-specific software and wages for job training ⁠¹⁵. You apply through the network partner for your region: Northwest (419) 722-4427, Northeast (216) 363-5410, East (330) 506-6220, West (937) 229-9066, Central (614) 725-7239, Southwest (513) 579-3103 or Southeast (740) 581-0906 ⁠¹⁴.

Working an Ohio financing plan, step by step

1. Start with a free SBDC session

   Ohio SBDCs are funded in part by Development and the SBA. Advisers help with cash-flow analysis, financial projections, business plans and finding capital at no cost ⁠¹. Bring your tax returns, a year-to-date profit and loss statement and a written list of what the money will buy.

2. Ask your lender about CEP when collateral is short

   The lender must be a state depository bank, a credit union in good standing or a CDFI ⁠⁵. You fill out the lender’s normal loan application and sign the CEP Borrower Certifications. The lender then sends Development its credit memo, appraisals and cost estimates. Development approves or declines in writing to the lender ⁠⁵.

3. Ask a participating CDFI about the CDFI/LPP

   If a bank says no, contact ECDI, Valley Partners, Western Reserve Community Fund, Appalachian Growth Capital or Freedom Equity ⁠³.

4. Get state MBE or WBE certification before applying for a state direct loan

   Complete Development’s preliminary eligibility form. Staff will then interview you or refer you to your area Minority Business Assistance Center for help with certification ⁠⁷.

5. File TechCred before 3 p.m. on October 30, 2026

   Choose credentials and providers from the approved lists and apply in the TechCred portal. After employees earn their credentials, submit a reimbursement request showing each earner’s Ohio address and W-2 status ⁠¹⁰. If you miss this window, watch for the next one.

6. Apply for IMAGE before you book the trade show

   Development will not repay activities it has not approved in advance. For export training, file the reimbursement request within 30 days of finishing the course ⁠¹¹.

7. Call your JobsOhio regional partner if you are a growing B2B firm

   Have your revenue, current headcount and payroll, the jobs you plan to add and quotes for the equipment or build-out ready ⁠¹⁴⁠¹⁵.

8. Treat a decline as a next step

   A CEP decline goes to your lender, so try another eligible lender or a CDFI ⁠⁵. TVSF accepts revised proposals in later rounds ⁠¹². The JobsOhio grant says meeting the minimums does not guarantee funding, so ask the regional partner what would make the project stronger ⁠¹⁵.

For other Ohio programs, see the Ohio overview, or compare states on the small business grants hub.