PTAC Centers also provide purchasing managers, private companies and government agencies with lists of minority vendors upon request. Fostering and developing partnerships with other state agencies, private organizations, federal and local government to facilitate the growth of minority businesses is a primary responsibility of the MTS staff. A frequent obstacle to minority business expansion and growth is the lack of capital. The Office of Minority Financial Incentives administers loan and bond programs that promote the growth and establishment of minority enterprises in Ohio. OMFI administers the Minority Direct Loan Program, The Ohio Mini-Loan Guarantee Program and the Minority Business Bond Program.
Loans are at a four and a half percent fixed rate.
These loans can be used for construction, renovation or as part of a business acquisition of fixed assets. The project must be economically sound and benefit the people of the state by increasing opportunities for employment. CPS maintains an ongoing listing of contracting opportunities with minority purchasing councils, Ohio Universities, private-sector and government sector purchasing managers. Purchasing managers, private companies and government agencies are also provided with lists of minority vendors upon request. All contents copyright 2000 Division of Minority Business Affairs.