Wooster Opportunity Loan Fund

The Wooster Opportunity Loan Fund supports early stage, high-potential technology companies located in or willing to move to Wayne County. The fund awards loans of up to $35,000 to companies with high potential to raise venture capital money and create new jobs. Loan proceeds must be used for a specific project or initiative that will bring the company closer to obtaining pre-seed funding; in addition, these loans are secured by the intellectual property and other assets of the company.

 

These loan payments are deferred for five years, or until:

 

    • Companies receive a significant financing event (greater than $1.5 million)

 

    • The company—or a substantial amount of its assets, greater than 51%—is sold

 

  • The company fails to comply with the terms of their agreement (e.g., leaving Wayne County)

This Fund was developed by the City of Wooster and the Wooster Growth Corporation, in collaboration with the JumpStart Entrepreneurial Network and with support from the Wooster Area Chamber of Commerce, Wooster Community Hospital, the Wayne Economic Development Council and Cascade Capital.

Support Organization Location: 

377 west liberty, wooster, ohio 44691
40° 47' 51.8316" N, 81° 56' 42.774" W

FlashStarts

Flashstarts is a Cleveland-based business startup accelerator and venture fund focused on unique and innovative uses of software and technology.

Flashstarts’ rigorous 12-week summer accelerator program is powered by rapid cycles of feedback and iteration, customized guidance from dedicated coaches, an extensive network of top-tier, experiencedmentors, and an award-winning internship program

Support Organization Location: 

50 Public Square, Cleveland, Ohio 44113
41° 29' 54.3012" N, 81° 41' 37.4244" W

Wooster Area Chamber of Commerce

WORKFORCE PREPAREDNESS & EDUCATION

  • Reestablish relationship with Junior Achievement encouraging Chamber members to connect with young talent in our community.
  • Expand the Junior Leadership Wooster program to area county schools.
  • Establish internship programs to match you with business leaders.
  • Coordinate efforts with ODJFS, Wayne County Schools Career Center, local Universities, Colleges and High Schools to connect the needs of business with curricula.

LEGISLATIVE ADVOCACY

  • Be the voice for our local business needs at the local, state and national level
  • Set forth our local business needs with the Public Utilities Commission of Ohio, American Electric Power, Dominion East Ohio Gas and The City of Wooster to enhance services in our community.
  • Maintain a solid environment for economic development by promoting attractive local incentives.

COMMUNITY DEVELOPMENT

  • Coordinate efforts with Wayne Economic Development Council, Wooster Growth, Wayne County Community Improvement Corporation and Main Street Wooster, Inc. to revitalize degraded properties in the Wooster area.
  • Maintain and enhance relationship with local community services agencies aimed at enhancing quality of life and employment sustainability.
  • Promote and develop initiatives to encourage home ownership and neighborhood loyalty.
  • Identify and advance the legislative issues, elected officials and initiatives to create a pro-business environment.
 

Support Type: 

Advocate

Support Organization Location: 

377 W. Liberty Street, Wooster, OH 44691
40° 47' 51.8316" N, 81° 56' 42.774" W

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