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Through Ohio Treasury's Renew & Rebuild Ohio linked deposit program, small business owners, farmers, and homeowners affected by the floods and severe weather are now eligible to receive interest rate reductions on loans.

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6/13/2011

Treasurer Mandel Initiates $25 Million Emergency Financing Program to Assist Ohioans Impacted by Severe Weather in 2011

Renew & Rebuild Ohio Programs Assist Small Businesses, Farms and Homes

COLUMBUS – Treasurer of State Josh Mandel today initiated a $25 million emergency financing program to assist Ohioans whose small businesses, farms and homes were damaged by flooding and severe weather in 2011.  Through the Ohio Treasury’s Renew Ohio & Rebuild Ohio linked deposit programs small business owners, farmers and homeowners affected by the floods and severe weather are now eligible to receive emergency financial assistance in their time of need through interest rate reductions on loans.

“Many Ohioans have had their lives affected by flooding and severe weather throughout the state and are in need of assistance to rebuild or cover costs associated with damage,” said Treasurer Mandel. “Through the Renew & Rebuild Ohio linked deposit programs, we hope to assist those impacted by storms this year by working with local banks to offer reduced rate loans to help them get their lives and businesses back on track.”

As part of the Renew & Rebuild Ohio Program, the State Treasury has allocated $25 million worth of funds which will be made available to Ohioans in all 88 counties who have experienced hardship due to flooding and extreme weather this year. 

Renew Ohio will assist small business owners and those in the agricultural community who have suffered severe damage or loss as a result of the 2011 flooding and severe weather.  Businesses and farmers can apply to obtain a three percent rate reduction on new or existing loans for construction or to improve cash flow.  The maximum loan amount per applicant is $400,000 for two years. 

Rebuild Ohio will assist homeowners applying for repair or construction loans to finance the restoration of their homes.  Homeowners who have suffered severe damage or loss as a result of the 2011 flooding and severe weather will be eligible for a three percent rate reduction on a construction loan of up to $400,000 for a one-year period.

The deadline to apply for these programs is September 1, 2011.  For more information or to apply for the Renew Ohio or Rebuild Ohio programs please contact the Ohio Treasury’s Department of Economic Development by calling (614) 466-6546 or toll-free (800) 228-1102 option 3; or visit the Renew Ohio & Rebuild Ohio page on our website. 

The Treasurer’s Renew & Rebuild Ohio programs are in addition to other forms of assistance that might be available for Ohioans through other state and federal programs.  For example, assistance for residents and businesses in Jackson and Lawrence counties impacted by severe storms and flash flooding on May 10-11, 2011 was recently made available when the Small Business Administration (SBA) granted Governor Kasich’s request for a disaster declaration in these counties.  This declaration also includes the contiguous counties of Gallia, Pike, Ross, Scioto and Vinton.  The State Individual Assistance Grant Program (IA) will also be available to individuals impacted by the severe storms that don’t qualify for SBA low interest loans.  Click here for more information on SBA/State IA programs.For additional information on the Ohio Treasurer’s Office, please visit:  www.OhioTreasurer.gov

 

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Office Of Debt Mgmt

The Office of Debt Management plays an important role in the operation of state government: it oversees the borrowing of funds to assure it is completed in an efficient manner.
    

SaveNOW

SaveNOW, a program offered by the State Treasurer through our linked deposit authority, offers a 3% bonus interest on savings accounts for Ohio citizens.
    

Smart Money Choices

A free personal financial-planning conference series for all Ohioans presented by State Treasurer Josh Mandel, and supported by a variety of statewide and regional partners.
    

Top-Bottom Review 2011

Review Outlines Steps to Improve Operations, Safeguard Investments, Leverage Technology, Increase Transparency and Modernize Banking Practices
    

e-Funds Transfer

Electronic Funds Transfers makes tax payments easy. Entities that have received a notice from the Ohio Department of Taxation can register for electronic payment via the website.
    

Veteran's Preference

Veteran’s Preference provides veterans with priority to be accepted into the GrowNOW and Ag-LINK linked-deposit programs.
    

GrowNOW

A partnership between eligible banks and the Ohio Treasury, enables small business owners to receive a 3% interest rate reduction on small business loans for two years with the opportunity for renewal
    

Renew & Rebuild Ohio

Small business owners, farmers and homeowners are eligible to receive financial assistance to rebuild and recover following an emergency.
    

Ag-LINK

A program for farms to receive an interest rate reduction on new or existing loans or lines of credit up to $150,000. Applications are accepted on an annual basis from January through March.
    

CPIM

The Center for Public Investment Management (CPIM) provides continuing education to Ohio’s public funds managers and their oversight authorities.
    

CPIM Conference: Bowling

The CPIM (Center for Public Funds Managers) Academy allows public funds managers to increase their financial competencies in managing and safeguarding Ohio’s tax dollars.
    

CPIM Akron

The CPIM (Center for Public Funds Managers) Academy allows public funds managers to increase their financial competencies in managing and safeguarding Ohio’s tax dollars.
    

CPIM Dayton

The CPIM (Center for Public Funds Managers) Academy allows public funds managers to increase their financial competencies in managing and safeguarding Ohio’s tax dollars.
    

CPIM Columbus

The CPIM (Center for Public Funds Managers) Academy allows public funds managers to increase their financial competencies in managing and safeguarding Ohio’s tax dollars.
    

ECO-Link

A partnership between the State Treasurer and participating banks that provides a 3% interest rate reduction for 5 or 7 years on bank loans when completing energy-efficient upgrades to your home.