OH HB44

Creates the Small Business Working Capital Loan Program within the Department of Development to provide lending capital to eligible businesses headquartered in Ohio with annual sales not exceeding $50 million.

Authorizes the Treasurer of State to invest up to $100 million in public funds with participating lending institutions that are eligible public depositories under state law.

Requires the Director of Development to select up to two private, for-profit Ohio-based investment firms as program administrators through a competitive request for proposals process to review and approve loan applications.

Mandates program administrators submit monthly reports tracking total loans made, defaults, loans to minority/women/EDGE business enterprises, job creation, and fund usage, with emphasis on lending goals for disadvantaged business categories.

Allows the Director to establish loan criteria prioritizing economic need, job creation, and to modify the program to comply with federal guidelines if federal funds are used.