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.