JobsOhio Growth Fund Loan
JobsOhio
$500K-$5M
Researched for this program: 5 rejection traps · 5 required documentsWhat decides this award ↓
Ohio's missing-middle growth loan
The JobsOhio Growth Fund Loan provides flexible, below-market financing to growth, established, and expansion-stage companies that have limited access to capital from conventional private lenders — the 'missing middle' of business financing. Offered by JobsOhio, a privately funded statewide economic-development nonprofit (not tax dollars), loans typically range from $500,000 to $5,000,000 and finance allowable project costs such as real estate, equipment, and working capital tied to growth. The program requires a minimum 10% borrower equity contribution and is aimed at companies in JobsOhio's targeted industries; retail and other population-driven businesses are not eligible. For established and expansion-stage companies, projects are generally expected to draw more than half of total financing from other private capital sources.
- Funding type
- Loan
- Level
- Private
- Amount range
- $500,000 – $5,000,000
- Realistic amount
- Most Growth Fund loans sit within the $500K-$5M band and are sized to the company's project and the share of financing JobsOhio takes alongside private lenders.
- Deadline
- No longer offered as described: JobsOhio's Growth Fund Loan page now redirects to its incentives page, which lists no Growth Fund Loan.
- Status
- discontinued
- States
- Ohio
- Payment model
- loan
Who qualifies
- Company in the growth, established, or expansion stage with generated revenues and a proven business plan
- Operating in a JobsOhio targeted industry or business function
- Project with limited access to capital from conventional private sources
- Minimum 10% borrower equity contribution in allowable project costs (may be higher)
- For established/expansion-stage companies, more than half of total project financing from other private capital sources
- Not a retail or other population-driven business (ineligible)
Hard requirements
- Must be an incorporated business
What it covers
Eligible expenses
- Real estate tied to a growth/expansion project
- Machinery and equipment
- Working capital tied to growth
- Other allowable project costs as determined by JobsOhio
Ineligible expenses
- Retail and other population-driven business projects
- Costs unrelated to the growth/expansion project
- Projects able to be fully financed by conventional private lenders
How to apply
-
1
Engage JobsOhio or a regional network partner
Contact JobsOhio or a JobsOhio Network regional partner / local economic-development office early in your growth or expansion project to discuss fit, targeted-industry eligibility, and financing structure.
~4 hrs
-
2
Define the project and financing stack
Detail the project (real estate, equipment, or working capital tied to growth), total project cost, your 10%+ equity, and the private-capital sources covering the balance.
~12 hrs
-
3
Submit application and underwriting package
Provide financial statements, the business plan, job and investment projections, and project documentation for JobsOhio's underwriting.
~16 hrs
-
4
Approval, terms, and closing
JobsOhio sets the loan amount within the $500K-$5M range and below-market terms, coordinates with co-lenders, and closes the loan alongside the rest of the financing stack.
~8 hrs
JobsOhio is a deal-driven, relationship-first lender — it fills the gap a bank won't fully cover, so come with your bank financing and 10%+ equity already lined up and a clear targeted-industry growth story. Working through a JobsOhio Network regional partner (e.g. your local economic-development organization) is the standard on-ramp and speeds the conversation.
Deadline & timing
No fixed application window. Companies typically engage JobsOhio (or a JobsOhio Network regional partner / local economic-development office) early in a growth or expansion project. Contact JobsOhio at (614) 321-1877 or via jobsohio.com.
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