Business loans

Small business
1:59 pm
Wed December 5, 2012

Cincinnati proposal to help small businesses

The City of Cincinnati is giving $400,000 to a program that will help small businesses get loans they need to operate or expand.

The funding is going to an organization called SoMoLend. Founder and CEO Candace Klein said it’s a web-based platform.

"SoMoLend connects business borrowers seeking ways to fund their businesses with investors looking to make a return on investment," Klein said in a press release.

City economic development officials say SoMoLend is another item in the city’s tool box to help small business and create jobs in the city.

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