OHIO — More than $1.3 million in loans is headed to small businesses across the Buckeye State to help expand operations, create jobs and strengthen their communities.
The Minority Development Financing Advisory Board approved $1,346,388 durings its monthly meeting for five businesses.
Two Hamilton County businesses were approved for loans, including 3T Learning Academy LLC and AV Beauty Bar LLC.
A $460,594 Women Business Enterprise loan will go to 3T Learning Academy, a Cincinnati-based licensed child care center dedicated to providing a supportive environment for early childhood development. It currently serves 120 children. Funds will go toward refinancing existing business debt, renovations for the facility and the creation of 25 full-time jobs. Officials said eight full-time positions will be retained.
Another $54,593 Women Business Enterprise loan will go toward AV Beauty Bar to help consolidate high-interest debts and create substantial annual savings for the company, a full-service salon that has grown from a mobile bridal service.
To the north in Franklin County, Columbus Aesthetic Medicine LLC and Nina Deep Aesthetics LLC received Women Business Enterprise loans totaling $614,881.
Columbus Aesthetic Medicine LLC, a real estate holding company created to own and lease property to Nina Deep Aesthetics LLC, received $379,072.
Nina Deep Aesthetics LLC, specializes in non-surgical aesthetic services and offers a range of skincare products and sunscreen online and in-person, received $235,809.
The loans will go toward refinancing existing debt and toward the purchase of new equipment and the retention of one position.
In northeast Ohio, Pink Transportation in Cuyahoga County received a $216,320 Women Business Enterprise loan.
The company was founded in 2014 as a non-emergency and non-medical transportation provider. However, in 2020, it was restructured into a full-service logistics and supply chain business focused on bulk material transport, fulfillmentlogistics and certified supplier services for public and private clients.
The funds will be used to purchase new equipment, create one full-time position and retain two full-time positions.
According to the Ohio Department of Development, over the last two years nearly $32 million in loans were approved for over 350 businesses. For more information about loans, eligibility and other capital assistance programs, click here.
