PROGRAM: Coordinate delivery of small business support services and technical assistance combined with financial incentives and access-to-capital for small businesses (One-Stop Small Business Service).

 

PROGRAM GOAL: A system of accessible support service providers, technical assistance and capital that meet the start-up and growth needs of Cincinnati's small businesses and neighborhoods in order to achieve an increased number of small businesses started and retained, improve access to necessary technical and capital resources, increase opportunity for City contracts, and deliver appropriate support for neighborhood and Downtown businesses.

 

TYPE OF ASSISTANCE: Access to financial incentives including linked deposit loans, micro and small business loans, financial consulting, business plan development, one-on-one business coaching, location assistance, mentoring, and financial management assistance.

 

TYPICAL STRUCTURE: Leveraged strategic partnerships with service providers to deliver services funded by the Department of Community Development.

 

MAXIMUM AMOUNT: Varies based upon the services required.

 

REPAYMENT:  Varies based upon the services required.

 

BENEFITS: Increased access-to-capital, increased business revenues with greater probability of business success.

 

ELIGIBILITY: Any small business located within the City of Cincinnati.  Certain loan products and service providers may have income requirements or job creation/retention requirements.

 

ELIGIBLE/
INELIGIBLE USES: City staff, service providers and consultants may assist in the packaging of public and private small business loan applications, monitor a business' performance, and/or provide the assistance to resolve business issues such as those related to accounting and management.  Service providers and consultants may act as an advisory resource to small businesses to assist in structuring production, financial management and operational systems.  Service providers and consultants may also assist the Department of Community Development in structuring loan terms and performance criteria if the business is applying for loan assistance.

 

RATES/FEES:  Varies based upon the services required.

 

PROGRAM EXAMPLES: This is a new program under development.