FAQs

Frequently Asked Questions

Q. Is the L. Ross Love GrowthBridge Fund a grant?
A. The L. Ross Love GrowthBridge Fund is not a grant. It is a direct lending fund for eligible minority-owned businesses.

Q. What are the interest rates and terms?
A. The L. Ross Love Growthbridge Fund offers rates and terms that are commensurate with project risk.

Q. How do I know if my business is eligible for financing by “The Fund”?
A. Many factors go into determining if companies are eligible for financing by the L. Ross Love GrowthBridge Fund. They include, but are not limited to:

  • Certified African-American or Hispanic-owned businesses
  • A high potential firm in the Cincinnati Minority Business Collaborative (CMBC) currently receiving services from the MBA or its partners
  • Business-to-business or business-to-government customers
  • Potential for significant revenue generation, business growth and sustainability
  • A viable expansion plan for the business, which may include acquisitions, broader penetration of market, or other strategies 
  • Revenues of $500,000 or more in the most recent 12-month reporting 
  • A history of profitability, or at a minimum, breaking even
  • A track record in an industry, with an established reputation and product or service

If you are still not certain if your company is eligible, please fill out a funding assessment questionnaire and a Fund management team member will contact you.

Q. How long does it take to know if my company is approved for financing by the L. Ross Love GrowthBridge Fund and how long does it take to receive the financing?
A. The application process consists of an initial eligibility review utilizing the funding assessment questionnaire and the submission of an application for those meeting the Fund’s eligibility criteria. Eligibility determinations will be made within 5 business days of the receipt of a completed funding assessment questionnaire. Final loan decisions can be rendered in as few as 7 to 10 business days from the date the Fund receives a complete loan application and supporting documentation materials requested.

Q. Are there restrictions on how I can spend the money I receive from the L. Ross Love GrowthBridge Fund?
A. Financing from the L. Ross Love GrowthBridge Fund is intended to help minority-owned businesses increase their revenues. This typically involves financing company investments that are needed to develop new products, enter new markets, and/or invest in acquisitions that will help companies increase their revenues.

Be sure to indicate the specific need you have for financing when you fill out your funding assessment questionnaire and a Funds management team member will contact you to discuss your needs further.

Q. Is there a limit on how much money my company can receive from the L. Ross Love GrowthBridge Fund?
A. The maximum is $225,000, but specific financing is determined based on each company’s specific business need.

Q. Are there other financing options if my business is not approved for financing by the L. Ross Love GrowthBridge Fund?
A. While the L. Ross Love GrowthBridge Fund makes every effort to finance eligible projects, there are times when it is not feasible. Whenever available, the Fund will provide recommendations for other sources. There are no guarantees for outside financing.

Q. Are the Cincinnati USA Regional Chamber and MBA financing the L. Ross Love GrowthBridge Fund? What stake do they have?
A. Our stake is helping minority-owned businesses succeed and grow, which in turn enhances the overall economic development of Cincinnati USA. The MBA will provide strategic oversight of the L. Ross Love GrowthBridge Fund and was the catalyst behind developing a viable funding source for minority-owned businesses.

The fund is financed by a group of investors, including the Cincinnati USA Regional Chamber, that believe in the success and economic power of minority-owned businesses. View a list of investors.

Q. I’m interested in joining the MBA. What is the process?
A. The first step is to visit our website. You’ll find information on the benefits the MBA offers, a listing of our portfolio companies, frequently asked questions, contact information, and more.

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