Weekly News Roundup: Microloans, Crowdfunding, & More

Biz Grants to Help 18 Local Startups

The Economic and Community Development Institute and INCREASE Community Development Corp. are among eight Ohio nonprofit organizations receiving  funding that will aid the small business development and create and retain jobs in the private sector.

The funding −$480,000 in Microenterprise Business Development Program grants from the Ohio Housing Trust Fund− will help awardees provide training and technical assistance to 784 people and provide 48 loans for startup businesses.

“Businesses of every size are important to the state’s economy,” says Ohio Department of Development Director Lisa Patt-McDaniel. “We want to ensure that our smallest businesses and their employees have the training and the resources they need to be successful.”

Microenterprise Business Development Program grants are administered by ODOD’s Office of Housing and Community Partnerships.

ECDI and INCREASE, which are located in Franklin County, each will receive a $60,000 grant.

With the funding, ECDI will assist 35 low- and moderate-income people and 10 businesses, while INCREASE will assist 50 low- and moderate-income people and eight businesses.

In Other News…

Ohio has been ranked the ninth most entrepreneurial state in the country by the Small Business and Entrepreneurship Council. [Read More]

Gina Harman, president and CEO of ACCION USA, lists five ways microloans can effectively and efficiently help create U.S. jobs. [Read More]

Crowdfunding is radically reshaping business investment and neutralizing gender bias, for both investors and entrepreneurs, says Kevin Lawton, author of The Crowdfunding Revolution. [Read More]

Microbusinesses need to do five things, says Mary McCarthy, owner of Columbus-based MLM Consulting. [Read More]

Single-office private law practices are becoming increasingly popular, according to an article recently published in Columbus Business First. [Read More]

Upcoming Events:

The Ohio Small Business Development Center and TechColumbus are hosting a seminar, titled “The Capital Crash Course,” today from 8:30 a.m. to 2 p.m. Attendees will learn how to obtain the financing necessary to grow their businesses. [Read More]

Columbus Startup Weekend kicks of Jan. 14. Ticket discounts worth $25 are available for a limited time. [Read More]