Navigating Interest Rates: What Small Businesses Need to Know
Interest rates play a crucial role in determining the cost of borrowing money for small businesses. As they fluctuate, small business owners face many financial decisions that can significantly impact their growth and stability. Understanding trends in interest rates can help businesses make informed choices about borrowing, investing, and managing cash flow. Monitoring Interest […]
Borrower Spotlight: Michael Byrne Manufacturing
Website: https://byrnegroup.com/ Location: Mansfield County: Richland Lending Partner: Park National Bank Michael Byrne Manufacturing is a women-owned family business that manufacturers auger boring machines, augers, cutting heads, and industrial gearboxes. It supplies utility contractors with equipment to drill horizontally underground to install water, sewer, gas, oil, and electric lines to provide energy to homes and businesses. The business started […]
Borrower Spotlight: The Book Loft of German Village
Website: https://www.bookloft.com/ Location: Columbus County: Franklin Lending Partner: Huntington National Bank The Book Loft is a well-known independent bookstore and destination in the German Village neighborhood of Columbus. One of the nation’s largest independent bookstores, The Book Loft stocks over 100,000 titles throughout the year and delights its customers with a layout comprised of 32 rooms full of books. […]
Borrower Spotlight: Costume Specialists
Website: https://costumespecialists.com/ Location: Columbus County: Franklin Lending Partner: KeyBank Founded in 1983, Costume Specialists is the world’s only custom mascot character production company that manufactures both foam and inflatable costumes. Under the leadership of Greg Manger, President and CEO, the company is dedicated to turning any character into a star, with creations that have reached […]
Borrower Spotlight: Cambridge Bone & Joint
Website: https://www.pgseo.org/Providers/Cambridge-Bone-and-Joint-67/ Location: Cambridge County: Guernsey Lending Partner: Peoples Bank Cambridge Bone & Joint, LLC is an orthopedic surgery practice in southeastern Ohio. Owned by Dr. Vanessa Voytko, a board certified orthopedic surgeon, and Melissa Voytko, a certified radiologic technologist, Cambridge Bone & Joint is a family-owned, community-based medical practice, dedicated to delivering high quality […]
OSDC Featured in Heartland Bank’s Money Matters Magazine
OSDC is proud to have partnered with Heartland Bank to provide an SBA 504 loan to Edgework Creative, a custom furniture manufacturer in Columbus. OSDC and Heartland helped Edgework Creative purchase a new building for their growing business and complete renovations to include a proper shop, office space, and warehouse. Read more about their amazing […]
OSDC’S Economic Impact in Ohio
OSDC underwent significant change in 2023, including the appointment of a new Board President and Executive Director, as well as dramatic growth in our small business lending portfolio. We’re helping more businesses in more places in Ohio than ever before. Insight from our diverse and creative borrowers is informing the new lending programs we’re building […]
Common Small Business Loan Terms
Navigating the world of small business loans can be tricky. Not only are there several different types of business loans, but the interest rates, term lengths and loan amounts all differ. The good news is that there are some common terms that frequently appear across small business loans. Understanding these baseline terms can help you identify […]
Seven Things Businesses Should Tackle Before 2024
OSDC’s Executive Director, Katie Kramer, was featured in a recent article in The Playbook discussing seven things small business owners should do before the end of the year. Experts across the country shared these seven tips: As you finalize your 2024 finances and plans, we look forward to supporting your efforts and helping you secure the financing […]
OSDC Announces Katie Kramer as new Executive Director
FOR IMMEDIATE RELEASE: September 13, 2023 Ohio Statewide Development Corporation Announces Katie Kramer as New Executive Director Kramer will use her policy and economic development experience to lead the organization as a proactive small business partner COLUMBUS – The Ohio Statewide Development Corporation (OSDC) announced today the appointment of Katie Kramer as its new executive […]