Re-Energize your small business
Small business is a driving force of Ohio’s economy and is critical for the state’s future success.
ReEnergize Ohio supports job creators by providing up to a 3% interest rate reduction on new or existing small business loans up to $550,000, for four years.
Businesses must use these loans to renovate existing buildings, expand operations, upgrade and add equipment, or install energy saving products and systems.
- Eligible businesses:
- MUST be organized for profit;
- MUST have headquarters in Ohio;
- MUST maintain offices and facilities in Ohio;
- MUST have less than 150 employees;
- MUST have majority of employees be Ohio residents; and
- MUST use all proceeds of the loan to expand or improve Ohio facilities
- After the online ReEnergize Ohio application is submitted and the loan officer confirms the terms of the loan, the Ohio Treasury begins the review process.
- If all eligibility criteria are met, the application is approved and notifications are sent to alert the owner and financial institution.
- Upon request from the financial institution, the Ohio Treasury will purchase an investment for the same amount as the approved loan at a below-market rate.
- The financial institution uses the interest generated to offset the interest rate reduction to pass savings onto the borrower.
- Click here to view a list of eligible financial institutions.
- Apply for a business loan at a participating financial institution.
- After loan terms are determined, both the owner and loan officer complete a simple online application.
- For more information about ReEnergize Ohio, contact us by phone at 614-466-6546 or by email at [email protected].