The Ohio Treasurer's GrowNOW interest rate reduction program is designed to help small businesses grow by providing them with critical cash flow. When a business is approved for a loan from one of the hundreds of eligible banks in the state, GrowNOW provides an additional three percent discount on the loan's already-negotiated interest rate, when the loan is linked to creating or saving jobs in Ohio.
 

		Small business owner applies for a loan with an eligible bank.
		Bank approves the loan and negotiates an interest rate with applicant.
		Bank and small business owner apply for GrowNOW interest rate reduction.
		If approved, the Treasury places a CD with the bank at a reduced rate. For more information on CD pricing, click here.
		The bank agrees to pass along the interest savings of 3% to the small business owner's loan.
		GrowNOW saves a small business owner up to $24,000 in interest over the two-year life of the CD.

With GrowNOW everyone does what they are best at doing:
 

• The Treasury makes strategic investments in Ohio
• Banks make credit decisions
• Small businesses create jobs for Ohioans
   

Bankers: Do you need more details so you can begin offering GrowNOW to your valued clients? Click here.