Ohio's Department Of Development Start-Up Plan Needs Alternative Business Funding Programs, Says Angelo Sferrazza, The IL Bridge Fund, Cincinnati, Ohio

To succeed in realizing Mark Kwamme, newly appointed Department of Development Director's, Ohio job start-up initiative, new alternative funding programs as well as educational mentoring programs such as The IL Bridge Fund's 'Bridge Loan Program' will be needed to help develop small business and create jobs for Ohio citizens. New updated application process will speed the approval process. End Quote

(1888PressRelease) January 27, 2011 - A new initiative from The IL Bridge Fund will make it easier for businesses and real estate investors to create jobs and get Ohio back to work. In addition to The IL Bridge Fund beginning a Business Incubation program for new and emerging businesses, the company is also making it easier to access their funding process. "The incubation program and the updated loan application process will offer financing as well as business mentoring to help selected businesses attain their goals" says Angelo Sferrazza, President, The IL Bridge Fund, located in Cincinnati, Ohio.

Angelo Sferrazza, suggests investors look for other funding alternatives in the marketplace that do not depend upon traditional lending to start a new business, expand an existing one or invest in real estate consider an alternative funding program, such as The IL Bridge Updated Funding Programs to step in loan timing is critical

• Offers faster response to applications
• Streamlines Business Investor applications
• Streamlines Real Estate Investor applications
• Provides more responsive customer service
• Adds additional business resources

"New and emerging businesses not only need funding but also guidance, the type of guidance provided by hands-on professionals who have been working their businesses for many years. This is one of the reasons behind the development of The IL Bridge Fund Incubation Program for new and emerging businesses. We want the businesses to be successful, therefore sometimes they not only need funds, but also advice on growing their business", says Angelo Sferrazza, President, The IL Bridge Fund, Cincinnati, Ohio.

The IL Bridge Fund currently provides 'Bridge Funding' for businesses that need more timely funding, with less stringent lending criteria, until more permanent institutional funding can be secured.

According to Mr. Sferrazza, institutional credit is still behind the curve in lending money to emerging businesses, regardless of the market demand for products and services. "It should be easier for business to find funding to ensure success in the communities around the county and further improve economic development," Mr. Sferrazza commented. "This is why the 'Bridge Lending Programs" were developed to supply 'short-term' financing for those businesses who need more timing funding, and financial educational mentoring when needed."

A recent survey of past and current clients who benefited from the IL Bridge Fund gave credence to this belief. With funding from the Fund, 22 businesses were able to have a median impact on 320 individuals in JOB CREATION or family and community economical benefit. These results are directly in line with the 'Jobs Ohio' initiative. "We fully support the direction the Ohio Department of Development is taking and will do all we can to assist with his objectives.

The IL Bridge Fund was created by Angelo Sferrazza in 2009. The IL Bridge Fund, an Ohio Limited Liability Company, is the funding source for Mid-market Emerging and Existing Companies and Real Estate Investors that have valuable marketable assets that can be used to secure an initial bridge loan (short-term). This approach to funding provides the time needed for companies to secure more permanent funding from an institution, or investment organization. The IL Bridge Fund has funded millions of dollars in transactions to date.

Checkout http://www.ilbridgefund.com for more information.

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