OH HB521

Creates the Small Business Working Capital Loan Program within the Ohio Department of Development to provide working capital loans to eligible businesses for job creation and preservation.

Authorizes the State Treasurer to invest up to $100 million in public funds with participating lending institutions that meet state depository requirements and agree to program terms.

Requires the Director of Development to select not more than two private, for-profit Ohio investment firms as program administrators through a competitive request for proposals process to review and approve loan applications.

Defines eligible businesses as Ohio-headquartered, for-profit entities with annual sales not exceeding $50 million that certify loans will be used to create/preserve jobs and purchase tangible personal property.

Requires program administrators to submit monthly reports tracking loan volume, default rates, lending to minority/women/EDGE business enterprises, jobs created or preserved, and overall program progress.