Grow Cincinnati Fund | DCEDChooseCincy

Grow Cincinnati Fund

For over two decades, the Grow Cincinnati Fund loan program has assisted growing small businesses across Cincinnati. The fund is made possible by a unique economic development partnership between the City of Cincinnati and national organization Grow America.*

Loans made under this program are underwritten by Grow America and guaranteed by the United States Small Business Administration ("SBA"); each loan must comply with SBA 7(a) guidelines and procedures. Eligible uses of the loan funds include permanent working capital, machinery and equipment, property acquisition and renovations, leasehold improvements, and refinancing debt.

Goal

The purpose of the Grow Cincinnati Fund program is to encourage expansion and increase the capacity of small local businesses by providing debt financing and access to technical assistance. This helps create jobs and economic opportunity, stimulate needed investment, and build more vibrant communities.

*Grow America (formally "the National Development Council" or "NDC") is one of the oldest and most comprehensive community and economic development nonprofits in the nation. They've worked for over half a century to increase the flow of capital to low-income communities through job creation and training, small business lending, development and preservation of affordable housing, and social infrastructure. The City of Cincinnati has partnered with Grow America since 2003, when the Grow America Fund of Cincinnati was created for small business lending; DCED maintains and strengthens this relationship through a myriad of local initiatives, consulting, and collaboration.

Click here for their website.

Click Here for more GCF Information & Application

Who Can Apply?

All Business Owners

Overview of Process

The Department of Community and Economic Development ("DCED") staff and Grow America lending specialists meet with interested businesses to understand the loan request and explain the loan review process. The business then submits a loan request online. Grow America evaluates and underwrites the loan for an SBA guarantee. Grow America submits a completed loan package to the SBA for final approval. Upon SBA approval, Grow America works with DCED and the business to conduct a loan closing. Grow America services the loan.

Timeline

Interest inquiries received on a rolling basis throughout the calendar year.

Interested? Have questions? For more information, contact:

Eric Denson, eric.denson@cincinnati-oh.gov