Hooven-Dayton Corporation, based in Dayton, OH, USA, has been awarded a $350,000 Minority Business Direct Loan by the Minority Development Financing Advisory Board of the state of Ohio. The loan will enable the company to expand its business opportunities and create 10 positions.
"Hooven-Dayton Corporation is a longtime and valued Dayton company that continues to strive for new growth opportunities," says Lieutenant Gov. Lee Fisher, who also serves as director of the Ohio Department of Development. "Building upon the success of minority owned firms like Hooven-Dayton, our state's Minority Business Enterprise Division is targeting growth in Ohio's minority business sector and developing new tools to strengthen opportunities available to minority business owners."
Hooven-Dayton Corporation manufactures labels, flexible packaging and other narrow web products for a variety of industries. The company was founded in 1935 and is the first wholly owned subsidiary of Che International Group, a minority business enterprise owned 100 percent by Christopher Che. The company occupies two buildings totaling 40,000 square feet and has nine flexo narrow web presses, a digital press, a digital plate maker, and state-of-the-art prepress software. The seven-year Minority Business Direct Loan, at an interest rate of 3 percent, will support the purchase of a Nilpeter flexo printing press with screen printing, embossing, and cold foil stamping capabilities. The equipment will also help fulfill a new $1 million contract.