Innovation Ohio Loan Fund

The Innovation Ohio Loan Fund (IOLF) is a state-funded financial program administered by the Ohio Department of Development. It is designed to provide capital to Ohio companies for the commercialization of products in key technology sectors, including life sciences, medical devices, and pharmaceuticals. The fund offers low-interest loans to support projects that have moved beyond the research and development phase and are ready for market entry or scaled production. By financing up to 75% of project costs, IOLF helps bridge the gap between early-stage funding and traditional commercial financing. The program is a core component of the Ohio Third Frontier initiative, aimed at fostering innovation and high-tech job growth within the state. It serves as a critical resource for biotech and healthcare startups looking to establish manufacturing or distribution operations in Ohio.