In these trying times, The Connor Group is lending a helping hand to local small businesses in Dayton and Cincinnati.
The Connor Group Small Business Loan Program
Larry Connor is the founder and managing partner of The Connor Group, a real estate investment firm that owns and operates luxury apartments in 14 markets across the U.S. But his professional roots are that of an Ohio small business owner. He started his first business – a house-painting company – when he was just 18. A decade later he launched the iconic Newcom’s Tavern (right) in Dayton.
“I can relate to what small business owners are facing right now,” Connor said about the coronavirus outbreak. “I’ve faced those situations when you’re scrambling and doing everything you can to make payroll.”
In that vein, The Connor Group has committed to making $2.5 million in loans to locally owned and operated small businesses to help them get through this difficult time. The fund started in Dayton and is expanding to Cincinnati.
HOW MUCH MONEY WILL THE CONNOR GROUP LEND?
The Dayton loan fund is $1.5 million and the Cincinnati loan fund is $1 million. We anticipate individual loans to range from $25,000 to $150,000.
WHO IS ELIGIBLE TO APPLY?
We’re looking for Dayton or Cincinnati based small businesses that need help getting through the trying times caused by the coronavirus outbreak – businesses that, with a little bit of help, will be operating and growing five years from now.
WHAT ARE THE LOAN TERMS?
All will be no-interest loans repaid over 24 or 36 months.
WHEN WILL LOANS BE PAID?
Our goal is to have all loans paid by June 30.
HOW DO I APPLY?
Complete the simple online application below. After an initial screening, the selection committee will reach out to business owners for the following supporting documentation, which will be kept confidential:
Tax returns for last two years
Bank statements for last 90 days
Owner credit report
Business financial statement
Vendor credit references
Although business owners will have to meet certain financial qualifications in this process, the No. 1 criteria is going to be honesty. Full disclosure and candor will carry the day. If at any point we feel a business owner is being evasive or deceitful, he or she will be removed from consideration.