DAYTON, Ohio (WDTN) — The Greater West Dayton Incubator is offering a new round of cultural capital microloans for small businesses.
The organization created the Cultural Capital Microloans Program for entrepreneurs who have historically been shut out from traditional lending from banks.
Organizers say this program will focus on black, women and other underrepresented and under resourced business owners.
“Underrepresented entrepreneurs like women and minorities they often have a difficult time getting access to traditional bank funding,” Whitney Barkley, Director of the Greater West Dayton Incubator, said. “With this opportunity they have an opportunity to borrow.”
Barkley said the program has two goals: To continue growing west Dayton, while also helping small businesses who haven’t always had the same opportunities to either start a business or the capital to further expand.
The program has already provided more than 70-thousand dollars to local businesses.
Applications will be accepted now through Feb. 26. More information on how to apply for a microloan is available online.