Small Business Loan Rate Discount

It’s a collaboration between the State Treasurer’s office and participating financial institutions to help Ohio entrepreneurs and small business owners start or grow their businesses by proving a reduced interest rate loan.

To meet the State Treasurer’s criteria, the business must:

• Be headquartered in Ohio
• Is at least 51% domiciled in Ohio
• Must have 150 or fewer employees, at least 51% of whom are Ohio residents
• Is organized for profit
• Use the loan exclusively for business purposes
• Agree to comply with all program and financial institution requirements

1. KEMBA membership is required
2. The business must operate within one of the following counties: Delaware, Fairfield, Franklin, Hocking, Knox, Licking, Logan, Madison, Marion, Morrow, Perry, Pickaway, Ross, or Union

This is part of the State’s plan to lay the groundwork for future economic success by providing opportunities for Ohioans starting or growing their businesses. From home-based businesses to small manufacturers to other entrepreneurial endeavors, and more, these Ohio businesses can take advantage of below-market interest rates to access flexible capital.

Yes, there is no requirement for length of time in business to qualify for the interest rate discount.*

Qualifying business owners can visit state-approved participating credit unions or banks, like KEMBA, to apply.

The loan must be used only for business purposes, for example: operating costs, payroll, expansion, equipment upgrades, staffing, inventory, and marketing to name a few.

The participating financial institution submits the online application on behalf of the business owner. Once submitted, the Ohio Treasurer’s Office reviews the application for eligibility, and approves eligible applicants.

Yes, KEMBA offers a full suite of business banking products, services, and solutions. Contact us today to see how our local team can become your trusted partner and help you grow.