Monroe Federal is proud to partner with the Ohio Treasurer’s Office to offer the Buckeye Business Advantage, a program designed to help small businesses across Ohio access the capital they need to grow, invest, and create jobs. Through this initiative, eligible businesses may obtain low-interest loans made possible by the Ohio Treasurer’s Office and its commitment to supporting local enterprise.
Reduced interest rates on small-business loans to qualifying Ohio-based businesses.
The Ohio Treasurer’s Office supports these loans through a linked-deposit arrangement, enabling Monroe Federal to pass savings directly to borrowers, ensuring Ohio businesses have access to cost-effective financing solutions that strengthen both their operations and the communities they serve.
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*Subject to MFSL credit application, underwriting requirements, and approval. Rates updated by the state of Ohio Treasurer on a quarterly basis. Please check with a Monroe Federal employee for current posted rates.
Q: What is Buckeye Business Advantage?
A: It’s a collaboration between the state Treasurer’s office and participating financial institutions to help Ohio entrepreneurs and small-business owners start or grow their businesses by proving a reduced interest rate loan.
Q: Who qualifies?
A: To meet the state Treasurer’s criteria, the business must:
• Be headquartered in Ohio.
• Be at least 51% domiciled in Ohio.
• Have 150 or fewer employees, at least 51% of whom are Ohio residents.
• Be organized for profit.
• Use the loan exclusively for business purposes.
• Agree to comply with all program and financial institution requirements.
Q: Why is the state offering this program?
A: This is part of the state’s plan to lay the groundwork for future economic success by providing opportunities for Ohioans starting or growing their businesses. From home-based businesses to small manufacturers to other entrepreneurial endeavors, and more, these Ohio businesses can take advantage of below-market interest rates to access flexible capital.
Q: Are new and existing businesses eligible?
A: Yes, there is no requirement for length of time in business to qualify for the interest rate discount.
Q: Are there any requirements for loan usage?
A: The loan must be used only for business purposes, for example: operating costs, payroll, expansion, equipment upgrades, staffing, inventory, and marketing to name a few.
Q: How does the process work?
A: The participating financial institution submits the online application on behalf of the business owner. Once submitted, the Ohio Treasurer’s Office reviews the application for eligibility and approves eligible applicants.
