"Jefferson County's unique business mix gives consumers the hometown
personal service they desire with a wide array of well-known and national
retailers offering prices and selection that are popular throughout
other areas."
– Joseph Lipo, Fort Steuben Mall
Small businesses are an increasingly important part of our local and national economy.
Diversifying the Jefferson County and Steubenville economy through the growth of
small businesses is a goal of the Progress Alliance. Several avenues of assistance
exist for small businesses.
Progress Alliance encourages entrepreneurs to use
the professional services of your banker, accountant, and attorney for advice and
counsel. However, the Progress Alliance has also found the following free resources
to be helpful to small and start-up businesses:
Start Up and Business Plan Assistance
• Business First Stop is a website that can help entrepreneurs obtain all of the
licensing, permitting and registration information needed from the State of Ohio.
Go to http://development.ohio.gov/1ststop/onestop/index.cfm
• The Small Business Development Center (SBDC) is a network of professional business
counselors across Ohio. The SBDCs are funded by the U.S. Small Business
Administration, Ohio Department of Development, and local sources. SBDC services
are free to clients. Joe Belinsky is the outreach program coordinator
for Jefferson County. Joe covers more than one county and is in Steubenville on
a part-time basis. Reach Joe by calling (330) 308-7523 or email Joe at jbelins1@kent.edu. Alternately,
you can go to Ohio SBDC homepage at http://www.entrepreneurohio.org/.
Financing
A variety of loan programs exist to help finance small business expansions.
Most loans will not replace banks, merely reduce the risk the banks incur or
fill a gap in the credit available. Government loan programs still require a
"bankable" deal so credit restrictions will apply. The list below includes
some of the most commonly used small business loan programs.
• Under the SBA 7a Loan Guaranty, the SBA will guaranty a portion of a bank loan.
Entrepreneurs should work through participating banks. Most banks, at least
through their main offices, have the ability to handle SBA 7a loans. Learn
more at www.sba.gov/financing/sbaloan/7a.html.
• The Capital Access Loan Program allows local banks to build up a reserve
account against losses (small business lending is risky) using a partial
state subsidy. The bank and borrower will also help build the reserve account.
This reserve helps banks make loans they might not otherwise make.
Learn more at www.odod.state.oh.us/CAP.
• The Ohio Mid East Government Association (OMEGA) operates a Revolving Loan
Fund (RLF). OMEGA's RLF can finance a percentage of project fixed assets
(land, buildings, machinery and equipment). Learn more at www.omega-ldd.org/page2.htm.
• Jefferson County and Steubenville both have RLFs. You can see a brochure
detailing the program by clicking here.
• The SBA 504 Direct Loan will finance up to 40% of real estate or equipment.
Two agencies in Ohio offer SBA 504 loans in Jefferson County. Learn more at
the Stark Development Board website at www.starkcoohio.com or the Ohio Statewide
Development Corporation website at www.ohiostatewidebusinessloans.com/loanprograms.html.
Technical Assistance
Sometimes an existing business needs some advice or information about accounting,
marketing, financing, collecting receivables, succession planning, etc. The
help needed may be as simple as a phone call or as complex as weeks of research.
A couple of free resources exist:
• The SBDCs offer free counseling and maintain a library of resource materials.
SBDC counselors are trained to help steer businesses in the right direction.
Joe Belinsky is the outreach program coordinator for Jefferson County.
Joe covers more than one county and is in Steubenville on a part-time basis.
Reach Joe by calling (330) 308-7523 or email Joe at jbelins1@kent.edu.
Alternately, you can go to Ohio SBDC homepage at www.odod.state.oh.us/edd/osb/SBDC.
• More specialized assistance is available in southeastern and eastern Ohio
through a unique program at Ohio University. The Appalachian Regional
Entrepreneurship Initiative (AREI) at the Voinovich Center has staff on hand
to assist companies in obtaining government contracts (procurement assistance),
to assist in exporting, and to tackle projects requiring an expertise in
manufacturing. Additionally, every year MBA students are teamed with companies
across the region for detailed business research projects.
Learn more at www.voinovichcenter.ohio.edu/arei.
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