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loan results listing | |
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| Appalachian Ohio Microloan Program | |
| Type: | Direct to business |
| Eligible Businesses: |
Retail Commercial Maunfacturing Distribution Service Day Care Providers |
| Use: | Purchase of machinery and equipment, furniture and fixtures, inventory and supplies, advertising and promotion materials, remodeling expenses, working capital up to six (6) months |
| Maximum: | Up to $35,000 |
| Term: | May range from six (6) months to six (6) years |
| Rates: | 12.5% |
| Equity: | No equity required; all loans require enough collateral to completely secure the amount borrowed |
| Bank Loan: | None, this loan program is available to help women, minorities and low-income individuals who cannot get business loans from banks; for loans between $15,000 and $25,000 must have proof of denial from two banks |
| Fees: | Application fee; technical assistance fee: 1% of the loan, up to $100; closing costs |
| Contact: |
Enterprise Development Corporation Phone: 740-797-9646 Fax: 740-797-9659 9030 Hocking Hills Drive The Plains, Ohio45780 Toll Free: |
| Rural Development Revolving Loan Fund | |
| Type: | Direct to business |
| Eligible Businesses: |
Retail Commercial Maunfacturing Distribution Service Day Care Providers |
| Use: | Land acquisition and improvements, purchase or remodeling of a building, construction of or addition to a building, purchase of machinery or equipment, leasehold improvements, inventory, working capital, start-up operational costs |
| Maximum: | 75% of project cost, up to $150,000 |
| Term: | Useful life (up to seven years) when purchasing equipment; up to 15 years when purchasing real estate with loan proceeds |
| Rates: | Prime rate plus 2%, may match lender rate |
| Equity: | Prefer a 5% minimum |
| Bank Loan: | Participation is initially (25% - 50%) by traditional lender or Non-EDC source; the Revolving Loan Fund is used for gap financing |
| Fees: | Application fee, $100; closing fees, 2% of total loan amount; all applicable closing costs |
| Contact: |
Enterprise Development Corporation Phone: 740-797-9646 Fax: 740-797-9659 9030 Hocking Hills Drive The Plains, Ohio45780 Toll Free: |
| Regional 166 / Pioneer Loan Program | |
| Type: | Direct to business |
| Eligible Businesses: |
Retail Commercial Maunfacturing Distribution Service Day Care Providers |
| Use: | Land acquisition and improvements, purchase or remodeling of a building, construction of or addition to a building, purchase of machinery or equipment |
| Maximum: | 75% of project cost, or up to $350,000, whichever is less |
| Term: | Same as bank term; maximum term 15 years for real estate; 10 years for machinery and equipment |
| Rates: | Fixed rate, 5% |
| Equity: | Minimum 10% equity investment |
| Job Creation: | One job for each $35,000 of Ohio 166 financing |
| Bank Loan: | 15%-50% of project cost; fixed or floating rate |
| Fees: | $200 application fee; attorney’s fee $1,200; up-front processing: 1.5%; annual: .25% servicing fee |
| Contact: |
Enterprise Development Corporation Phone: 740-797-9646 Fax: 740-797-9659 9030 Hocking Hills Drive The Plains, Ohio45780 Toll Free: |
Federal Loans
| U. S. Small Business Administration Prequalification Loan | |
| Overview: | Small businesses owned by women, minorities, veterans, exporters, plus rural small businesses and those in certain designated industries and geographical areas. Retail, service, commercial, manufacturing, and distribution businesses |
| Type: | Partial Loan Guarantee |
| Eligible Businesses: |
Commercial Maunfacturing Distribution Service |
| Use: | Real estate, equipment, working capital, inventory |
| Maximum: | Up to $250,000; guarantee 75% to 80% |
| Term: | Working capital 5-7 years; equipment 5-15 years; real estate 15-25 years |
| Rates: | Negotiated fixed or floating up to prime rate plus 2.75% |
| Equity: | Start-ups must have 20-30% equity; more is required on higher risk businesses; requires personal guarantee |
| Bank Loan: | Enables an applicant to prequalify for a 7A loan guarantee before going to the bank. Focuses on applicant’s character, credit, experience and reliability, rather than assets. Enterprise Development Corporation is an approved intermediary. |
| Fees: | Application fee $400; Small Business Administration fee 2-3% |
| Contact: |
Morgan County Engineer
Richard Hardison County Engineer 19 E. Main Street McConnelsville, Ohio43756 Toll Free: 740-962-3171 |
Regional Loans
| (ARC) Revolving Loan Fund | |
| Overview: | Any existing or new business, partnership, cooperative or corporation engaged in manufacturing, service or retail |
| Type: | Direct to business |
| Eligible Businesses: |
Commercial Maunfacturing Distribution Service Retail |
| Use: | Funds may be used for the acquisition and improvement of land, buildings, plant facilities, furnishings, fixtures and equipment. New construction or renovation of existing facilities, modernization, demolition and site preparation and or working capital. |
| Maximum: | Maximum of $100,000 or 50% of the project cost, whichever is achieved first |
| Term: | Real estate: maximum 15 years; inventory, machinery and equipment: 5-7 years useful life of equipment; working capital: 3-5 years |
| Rates: | Interest rates are determined on a case-by-case basis with a minimum interest rate of 4%. All projects are rated dependent on risk. Rates are fixed for the term of the loan. Each loan will be secured by appropriate collateral, mortgages or liens in addition to a promissory note. |
| Equity: | Owner must invest 10% of total project costs if existing business; 20% of new business |
| Job Creation: | One (1) job created for every $15,000 borrowed |
| Bank Loan: | Private lender required for dollar-to-dollar match of bank financing |
| Fees: | $100 application fee; $250 processing fee; 1% service fee of loaned amount |
| Contact: |
Buckeye Hills-Hocking Valley Regional Development District Washington County Rd Marietta, Ohio 45750 jgage@buckeyehills.org , Toll Free: |
State Loans
| Appalachian Ohio Microloan Program | |
| Type: | Direct to business |
| Eligible Businesses: |
Retail Commercial Maunfacturing Distribution Service Day Care Providers |
| Use: | Purchase of machinery and equipment, furniture and fixtures, inventory and supplies, advertising and promotion materials, remodeling expenses, working capital up to six (6) months |
| Maximum: | Up to $35,000 |
| Term: | May range from six (6) months to six (6) years |
| Rates: | 12.5% |
| Equity: | No equity required; all loans require enough collateral to completely secure the amount borrowed |
| Bank Loan: | None, this loan program is available to help women, minorities and low-income individuals who cannot get business loans from banks; for loans between $15,000 and $25,000 must have proof of denial from two banks |
| Fees: | Application fee; technical assistance fee: 1% of the loan, up to $100; closing costs |
| Contact: |
Enterprise Development Corporation Phone: 740-797-9646 Fax: 740-797-9659 9030 Hocking Hills Drive The Plains, Ohio45780 Toll Free: |
| Rural Development Revolving Loan Fund | |
| Type: | Direct to business |
| Eligible Businesses: |
Retail Commercial Maunfacturing Distribution Service Day Care Providers |
| Use: | Land acquisition and improvements, purchase or remodeling of a building, construction of or addition to a building, purchase of machinery or equipment, leasehold improvements, inventory, working capital, start-up operational costs |
| Maximum: | 75% of project cost, up to $150,000 |
| Term: | Useful life (up to seven years) when purchasing equipment; up to 15 years when purchasing real estate with loan proceeds |
| Rates: | Prime rate plus 2%, may match lender rate |
| Equity: | Prefer a 5% minimum |
| Bank Loan: | Participation is initially (25% - 50%) by traditional lender or Non-EDC source; the Revolving Loan Fund is used for gap financing |
| Fees: | Application fee, $100; closing fees, 2% of total loan amount; all applicable closing costs |
| Contact: |
Enterprise Development Corporation Phone: 740-797-9646 Fax: 740-797-9659 9030 Hocking Hills Drive The Plains, Ohio45780 Toll Free: |
| Regional 166 / Pioneer Loan Program | |
| Type: | Direct to business |
| Eligible Businesses: |
Retail Commercial Maunfacturing Distribution Service Day Care Providers |
| Use: | Land acquisition and improvements, purchase or remodeling of a building, construction of or addition to a building, purchase of machinery or equipment |
| Maximum: | 75% of project cost, or up to $350,000, whichever is less |
| Term: | Same as bank term; maximum term 15 years for real estate; 10 years for machinery and equipment |
| Rates: | Fixed rate, 5% |
| Equity: | Minimum 10% equity investment |
| Job Creation: | One job for each $35,000 of Ohio 166 financing |
| Bank Loan: | 15%-50% of project cost; fixed or floating rate |
| Fees: | $200 application fee; attorney’s fee $1,200; up-front processing: 1.5%; annual: .25% servicing fee |
| Contact: |
Enterprise Development Corporation Phone: 740-797-9646 Fax: 740-797-9659 9030 Hocking Hills Drive The Plains, Ohio45780 Toll Free: |
Federal Loans
| U. S. Small Business Administration Prequalification Loan | |
| Overview: | Small businesses owned by women, minorities, veterans, exporters, plus rural small businesses and those in certain designated industries and geographical areas. Retail, service, commercial, manufacturing, and distribution businesses |
| Type: | Partial Loan Guarantee |
| Eligible Businesses: |
Commercial Maunfacturing Distribution Service |
| Use: | Real estate, equipment, working capital, inventory |
| Maximum: | Up to $250,000; guarantee 75% to 80% |
| Term: | Working capital 5-7 years; equipment 5-15 years; real estate 15-25 years |
| Rates: | Negotiated fixed or floating up to prime rate plus 2.75% |
| Equity: | Start-ups must have 20-30% equity; more is required on higher risk businesses; requires personal guarantee |
| Bank Loan: | Enables an applicant to prequalify for a 7A loan guarantee before going to the bank. Focuses on applicant’s character, credit, experience and reliability, rather than assets. Enterprise Development Corporation is an approved intermediary. |
| Fees: | Application fee $400; Small Business Administration fee 2-3% |
| Contact: |
Morgan County Engineer
Richard Hardison County Engineer 19 E. Main Street McConnelsville, Ohio43756 Toll Free: 740-962-3171 |
Regional Loans
| (ARC) Revolving Loan Fund | |
| Overview: | Any existing or new business, partnership, cooperative or corporation engaged in manufacturing, service or retail |
| Type: | Direct to business |
| Eligible Businesses: |
Commercial Maunfacturing Distribution Service Retail |
| Use: | Funds may be used for the acquisition and improvement of land, buildings, plant facilities, furnishings, fixtures and equipment. New construction or renovation of existing facilities, modernization, demolition and site preparation and or working capital. |
| Maximum: | Maximum of $100,000 or 50% of the project cost, whichever is achieved first |
| Term: | Real estate: maximum 15 years; inventory, machinery and equipment: 5-7 years useful life of equipment; working capital: 3-5 years |
| Rates: | Interest rates are determined on a case-by-case basis with a minimum interest rate of 4%. All projects are rated dependent on risk. Rates are fixed for the term of the loan. Each loan will be secured by appropriate collateral, mortgages or liens in addition to a promissory note. |
| Equity: | Owner must invest 10% of total project costs if existing business; 20% of new business |
| Job Creation: | One (1) job created for every $15,000 borrowed |
| Bank Loan: | Private lender required for dollar-to-dollar match of bank financing |
| Fees: | $100 application fee; $250 processing fee; 1% service fee of loaned amount |
| Contact: |
Buckeye Hills-Hocking Valley Regional Development District Washington County Rd Marietta, Ohio 45750 jgage@buckeyehills.org , Toll Free: |
State Loans
| Appalachian Ohio Microloan Program | |
| Type: | Direct to business |
| Eligible Businesses: |
Retail Commercial Maunfacturing Distribution Service Day Care Providers |
| Use: | Purchase of machinery and equipment, furniture and fixtures, inventory and supplies, advertising and promotion materials, remodeling expenses, working capital up to six (6) months |
| Maximum: | Up to $35,000 |
| Term: | May range from six (6) months to six (6) years |
| Rates: | 12.5% |
| Equity: | No equity required; all loans require enough collateral to completely secure the amount borrowed |
| Bank Loan: | None, this loan program is available to help women, minorities and low-income individuals who cannot get business loans from banks; for loans between $15,000 and $25,000 must have proof of denial from two banks |
| Fees: | Application fee; technical assistance fee: 1% of the loan, up to $100; closing costs |
| Contact: |
Enterprise Development Corporation Phone: 740-797-9646 Fax: 740-797-9659 9030 Hocking Hills Drive The Plains, Ohio45780 Toll Free: |
| Rural Development Revolving Loan Fund | |
| Type: | Direct to business |
| Eligible Businesses: |
Retail Commercial Maunfacturing Distribution Service Day Care Providers |
| Use: | Land acquisition and improvements, purchase or remodeling of a building, construction of or addition to a building, purchase of machinery or equipment, leasehold improvements, inventory, working capital, start-up operational costs |
| Maximum: | 75% of project cost, up to $150,000 |
| Term: | Useful life (up to seven years) when purchasing equipment; up to 15 years when purchasing real estate with loan proceeds |
| Rates: | Prime rate plus 2%, may match lender rate |
| Equity: | Prefer a 5% minimum |
| Bank Loan: | Participation is initially (25% - 50%) by traditional lender or Non-EDC source; the Revolving Loan Fund is used for gap financing |
| Fees: | Application fee, $100; closing fees, 2% of total loan amount; all applicable closing costs |
| Contact: |
Enterprise Development Corporation Phone: 740-797-9646 Fax: 740-797-9659 9030 Hocking Hills Drive The Plains, Ohio45780 Toll Free: |
| Regional 166 / Pioneer Loan Program | |
| Type: | Direct to business |
| Eligible Businesses: |
Retail Commercial Maunfacturing Distribution Service Day Care Providers |
| Use: | Land acquisition and improvements, purchase or remodeling of a building, construction of or addition to a building, purchase of machinery or equipment |
| Maximum: | 75% of project cost, or up to $350,000, whichever is less |
| Term: | Same as bank term; maximum term 15 years for real estate; 10 years for machinery and equipment |
| Rates: | Fixed rate, 5% |
| Equity: | Minimum 10% equity investment |
| Job Creation: | One job for each $35,000 of Ohio 166 financing |
| Bank Loan: | 15%-50% of project cost; fixed or floating rate |
| Fees: | $200 application fee; attorney’s fee $1,200; up-front processing: 1.5%; annual: .25% servicing fee |
| Contact: |
Enterprise Development Corporation Phone: 740-797-9646 Fax: 740-797-9659 9030 Hocking Hills Drive The Plains, Ohio45780 Toll Free: |
Federal Loans
| U. S. Small Business Administration Prequalification Loan | |
| Overview: | Small businesses owned by women, minorities, veterans, exporters, plus rural small businesses and those in certain designated industries and geographical areas. Retail, service, commercial, manufacturing, and distribution businesses |
| Type: | Partial Loan Guarantee |
| Eligible Businesses: |
Commercial Maunfacturing Distribution Service |
| Use: | Real estate, equipment, working capital, inventory |
| Maximum: | Up to $250,000; guarantee 75% to 80% |
| Term: | Working capital 5-7 years; equipment 5-15 years; real estate 15-25 years |
| Rates: | Negotiated fixed or floating up to prime rate plus 2.75% |
| Equity: | Start-ups must have 20-30% equity; more is required on higher risk businesses; requires personal guarantee |
| Bank Loan: | Enables an applicant to prequalify for a 7A loan guarantee before going to the bank. Focuses on applicant’s character, credit, experience and reliability, rather than assets. Enterprise Development Corporation is an approved intermediary. |
| Fees: | Application fee $400; Small Business Administration fee 2-3% |
| Contact: |
Morgan County Engineer
Richard Hardison County Engineer 19 E. Main Street McConnelsville, Ohio43756 Toll Free: 740-962-3171 |
Regional Loans
| Appalachian Regional Commission(ARC) Distressed County Loan Program | |
| Type: | Direct to business |
| Eligible Businesses: |
Retail Commercial Maunfacturing Distribution Service Day Care Providers |
| Use: | Land or building acquisition; renovation; site preparations, machinery and equipment; working capital furnishings and fixtures; inventory |
| Term: | Real estate: maximum 12 years; inventory, machinery and equipment: 5-7 years useful life of equipment; working capital: 3-5 years |
| Rates: | Maximum is 4% below prime rate the date the loan is approved. Fixed for term of loan; deferments available |
| Equity: | Owner must invest 10% of total project costs if existing business; 20% of new business |
| Job Creation: | One (1) job created for every $15,000 borrowed |
| Fees: | $100 application fee; no processing fee; 1% service fee of loaned amount |
| Contact: |
Buckeye Hills-Hocking Valley Regional Development District Washington County Rd Marietta, Ohio 45750 jgage@buckeyehills.org , Toll Free: |
| (ARC) Revolving Loan Fund | |
| Overview: | Any existing or new business, partnership, cooperative or corporation engaged in manufacturing, service or retail |
| Type: | Direct to business |
| Eligible Businesses: |
Commercial Maunfacturing Distribution Service Retail |
| Use: | Funds may be used for the acquisition and improvement of land, buildings, plant facilities, furnishings, fixtures and equipment. New construction or renovation of existing facilities, modernization, demolition and site preparation and or working capital. |
| Maximum: | Maximum of $100,000 or 50% of the project cost, whichever is achieved first |
| Term: | Real estate: maximum 15 years; inventory, machinery and equipment: 5-7 years useful life of equipment; working capital: 3-5 years |
| Rates: | Interest rates are determined on a case-by-case basis with a minimum interest rate of 4%. All projects are rated dependent on risk. Rates are fixed for the term of the loan. Each loan will be secured by appropriate collateral, mortgages or liens in addition to a promissory note. |
| Equity: | Owner must invest 10% of total project costs if existing business; 20% of new business |
| Job Creation: | One (1) job created for every $15,000 borrowed |
| Bank Loan: | Private lender required for dollar-to-dollar match of bank financing |
| Fees: | $100 application fee; $250 processing fee; 1% service fee of loaned amount |
| Contact: |
Buckeye Hills-Hocking Valley Regional Development District Washington County Rd Marietta, Ohio 45750 jgage@buckeyehills.org , Toll Free: |
State Loans
| Appalachian Ohio Microloan Program | |
| Type: | Direct to business |
| Eligible Businesses: |
Retail Commercial Maunfacturing Distribution Service Day Care Providers |
| Use: | Purchase of machinery and equipment, furniture and fixtures, inventory and supplies, advertising and promotion materials, remodeling expenses, working capital up to six (6) months |
| Maximum: | Up to $35,000 |
| Term: | May range from six (6) months to six (6) years |
| Rates: | 12.5% |
| Equity: | No equity required; all loans require enough collateral to completely secure the amount borrowed |
| Bank Loan: | None, this loan program is available to help women, minorities and low-income individuals who cannot get business loans from banks; for loans between $15,000 and $25,000 must have proof of denial from two banks |
| Fees: | Application fee; technical assistance fee: 1% of the loan, up to $100; closing costs |
| Contact: |
Enterprise Development Corporation Phone: 740-797-9646 Fax: 740-797-9659 9030 Hocking Hills Drive The Plains, Ohio45780 Toll Free: |
| Rural Development Revolving Loan Fund | |
| Type: | Direct to business |
| Eligible Businesses: |
Retail Commercial Maunfacturing Distribution Service Day Care Providers |
| Use: | Land acquisition and improvements, purchase or remodeling of a building, construction of or addition to a building, purchase of machinery or equipment, leasehold improvements, inventory, working capital, start-up operational costs |
| Maximum: | 75% of project cost, up to $150,000 |
| Term: | Useful life (up to seven years) when purchasing equipment; up to 15 years when purchasing real estate with loan proceeds |
| Rates: | Prime rate plus 2%, may match lender rate |
| Equity: | Prefer a 5% minimum |
| Bank Loan: | Participation is initially (25% - 50%) by traditional lender or Non-EDC source; the Revolving Loan Fund is used for gap financing |
| Fees: | Application fee, $100; closing fees, 2% of total loan amount; all applicable closing costs |
| Contact: |
Enterprise Development Corporation Phone: 740-797-9646 Fax: 740-797-9659 9030 Hocking Hills Drive The Plains, Ohio45780 Toll Free: |
| Regional 166 / Pioneer Loan Program | |
| Type: | Direct to business |
| Eligible Businesses: |
Retail Commercial Maunfacturing Distribution Service Day Care Providers |
| Use: | Land acquisition and improvements, purchase or remodeling of a building, construction of or addition to a building, purchase of machinery or equipment |
| Maximum: | 75% of project cost, or up to $350,000, whichever is less |
| Term: | Same as bank term; maximum term 15 years for real estate; 10 years for machinery and equipment |
| Rates: | Fixed rate, 5% |
| Equity: | Minimum 10% equity investment |
| Job Creation: | One job for each $35,000 of Ohio 166 financing |
| Bank Loan: | 15%-50% of project cost; fixed or floating rate |
| Fees: | $200 application fee; attorney’s fee $1,200; up-front processing: 1.5%; annual: .25% servicing fee |
| Contact: |
Enterprise Development Corporation Phone: 740-797-9646 Fax: 740-797-9659 9030 Hocking Hills Drive The Plains, Ohio45780 Toll Free: |
Federal Loans
| U. S. Small Business Administration Prequalification Loan | |
| Overview: | Small businesses owned by women, minorities, veterans, exporters, plus rural small businesses and those in certain designated industries and geographical areas. Retail, service, commercial, manufacturing, and distribution businesses |
| Type: | Partial Loan Guarantee |
| Eligible Businesses: |
Commercial Maunfacturing Distribution Service |
| Use: | Real estate, equipment, working capital, inventory |
| Maximum: | Up to $250,000; guarantee 75% to 80% |
| Term: | Working capital 5-7 years; equipment 5-15 years; real estate 15-25 years |
| Rates: | Negotiated fixed or floating up to prime rate plus 2.75% |
| Equity: | Start-ups must have 20-30% equity; more is required on higher risk businesses; requires personal guarantee |
| Bank Loan: | Enables an applicant to prequalify for a 7A loan guarantee before going to the bank. Focuses on applicant’s character, credit, experience and reliability, rather than assets. Enterprise Development Corporation is an approved intermediary. |
| Fees: | Application fee $400; Small Business Administration fee 2-3% |
| Contact: |
Morgan County Engineer
Richard Hardison County Engineer 19 E. Main Street McConnelsville, Ohio43756 Toll Free: 740-962-3171 |
Regional Loans
| Appalachian Regional Commission(ARC) Distressed County Loan Program | |
| Type: | Direct to business |
| Eligible Businesses: |
Retail Commercial Maunfacturing Distribution Service Day Care Providers |
| Use: | Land or building acquisition; renovation; site preparations, machinery and equipment; working capital furnishings and fixtures; inventory |
| Term: | Real estate: maximum 12 years; inventory, machinery and equipment: 5-7 years useful life of equipment; working capital: 3-5 years |
| Rates: | Maximum is 4% below prime rate the date the loan is approved. Fixed for term of loan; deferments available |
| Equity: | Owner must invest 10% of total project costs if existing business; 20% of new business |
| Job Creation: | One (1) job created for every $15,000 borrowed |
| Fees: | $100 application fee; no processing fee; 1% service fee of loaned amount |
| Contact: |
Buckeye Hills-Hocking Valley Regional Development District Washington County Rd Marietta, Ohio 45750 jgage@buckeyehills.org , Toll Free: |
| (ARC) Revolving Loan Fund | |
| Overview: | Any existing or new business, partnership, cooperative or corporation engaged in manufacturing, service or retail |
| Type: | Direct to business |
| Eligible Businesses: |
Commercial Maunfacturing Distribution Service Retail |
| Use: | Funds may be used for the acquisition and improvement of land, buildings, plant facilities, furnishings, fixtures and equipment. New construction or renovation of existing facilities, modernization, demolition and site preparation and or working capital. |
| Maximum: | Maximum of $100,000 or 50% of the project cost, whichever is achieved first |
| Term: | Real estate: maximum 15 years; inventory, machinery and equipment: 5-7 years useful life of equipment; working capital: 3-5 years |
| Rates: | Interest rates are determined on a case-by-case basis with a minimum interest rate of 4%. All projects are rated dependent on risk. Rates are fixed for the term of the loan. Each loan will be secured by appropriate collateral, mortgages or liens in addition to a promissory note. |
| Equity: | Owner must invest 10% of total project costs if existing business; 20% of new business |
| Job Creation: | One (1) job created for every $15,000 borrowed |
| Bank Loan: | Private lender required for dollar-to-dollar match of bank financing |
| Fees: | $100 application fee; $250 processing fee; 1% service fee of loaned amount |
| Contact: |
Buckeye Hills-Hocking Valley Regional Development District Washington County Rd Marietta, Ohio 45750 jgage@buckeyehills.org , Toll Free: |
State Loans
| Appalachian Ohio Microloan Program | |
| Type: | Direct to business |
| Eligible Businesses: |
Retail Commercial Maunfacturing Distribution Service Day Care Providers |
| Use: | Purchase of machinery and equipment, furniture and fixtures, inventory and supplies, advertising and promotion materials, remodeling expenses, working capital up to six (6) months |
| Maximum: | Up to $35,000 |
| Term: | May range from six (6) months to six (6) years |
| Rates: | 12.5% |
| Equity: | No equity required; all loans require enough collateral to completely secure the amount borrowed |
| Bank Loan: | None, this loan program is available to help women, minorities and low-income individuals who cannot get business loans from banks; for loans between $15,000 and $25,000 must have proof of denial from two banks |
| Fees: | Application fee; technical assistance fee: 1% of the loan, up to $100; closing costs |
| Contact: |
Enterprise Development Corporation Phone: 740-797-9646 Fax: 740-797-9659 9030 Hocking Hills Drive The Plains, Ohio45780 Toll Free: |
| Rural Development Revolving Loan Fund | |
| Type: | Direct to business |
| Eligible Businesses: |
Retail Commercial Maunfacturing Distribution Service Day Care Providers |
| Use: | Land acquisition and improvements, purchase or remodeling of a building, construction of or addition to a building, purchase of machinery or equipment, leasehold improvements, inventory, working capital, start-up operational costs |
| Maximum: | 75% of project cost, up to $150,000 |
| Term: | Useful life (up to seven years) when purchasing equipment; up to 15 years when purchasing real estate with loan proceeds |
| Rates: | Prime rate plus 2%, may match lender rate |
| Equity: | Prefer a 5% minimum |
| Bank Loan: | Participation is initially (25% - 50%) by traditional lender or Non-EDC source; the Revolving Loan Fund is used for gap financing |
| Fees: | Application fee, $100; closing fees, 2% of total loan amount; all applicable closing costs |
| Contact: |
Enterprise Development Corporation Phone: 740-797-9646 Fax: 740-797-9659 9030 Hocking Hills Drive The Plains, Ohio45780 Toll Free: |
| Regional 166 / Pioneer Loan Program | |
| Type: | Direct to business |
| Eligible Businesses: |
Retail Commercial Maunfacturing Distribution Service Day Care Providers |
| Use: | Land acquisition and improvements, purchase or remodeling of a building, construction of or addition to a building, purchase of machinery or equipment |
| Maximum: | 75% of project cost, or up to $350,000, whichever is less |
| Term: | Same as bank term; maximum term 15 years for real estate; 10 years for machinery and equipment |
| Rates: | Fixed rate, 5% |
| Equity: | Minimum 10% equity investment |
| Job Creation: | One job for each $35,000 of Ohio 166 financing |
| Bank Loan: | 15%-50% of project cost; fixed or floating rate |
| Fees: | $200 application fee; attorney’s fee $1,200; up-front processing: 1.5%; annual: .25% servicing fee |
| Contact: |
Enterprise Development Corporation Phone: 740-797-9646 Fax: 740-797-9659 9030 Hocking Hills Drive The Plains, Ohio45780 Toll Free: |
Federal Loans
| U. S. Small Business Administration Prequalification Loan | |
| Overview: | Small businesses owned by women, minorities, veterans, exporters, plus rural small businesses and those in certain designated industries and geographical areas. Retail, service, commercial, manufacturing, and distribution businesses |
| Type: | Partial Loan Guarantee |
| Eligible Businesses: |
Commercial Maunfacturing Distribution Service |
| Use: | Real estate, equipment, working capital, inventory |
| Maximum: | Up to $250,000; guarantee 75% to 80% |
| Term: | Working capital 5-7 years; equipment 5-15 years; real estate 15-25 years |
| Rates: | Negotiated fixed or floating up to prime rate plus 2.75% |
| Equity: | Start-ups must have 20-30% equity; more is required on higher risk businesses; requires personal guarantee |
| Bank Loan: | Enables an applicant to prequalify for a 7A loan guarantee before going to the bank. Focuses on applicant’s character, credit, experience and reliability, rather than assets. Enterprise Development Corporation is an approved intermediary. |
| Fees: | Application fee $400; Small Business Administration fee 2-3% |
| Contact: |
Morgan County Engineer
Richard Hardison County Engineer 19 E. Main Street McConnelsville, Ohio43756 Toll Free: 740-962-3171 |
Regional Loans
| Appalachian Regional Commission(ARC) Distressed County Loan Program | |
| Type: | Direct to business |
| Eligible Businesses: |
Retail Commercial Maunfacturing Distribution Service Day Care Providers |
| Use: | Land or building acquisition; renovation; site preparations, machinery and equipment; working capital furnishings and fixtures; inventory |
| Term: | Real estate: maximum 12 years; inventory, machinery and equipment: 5-7 years useful life of equipment; working capital: 3-5 years |
| Rates: | Maximum is 4% below prime rate the date the loan is approved. Fixed for term of loan; deferments available |
| Equity: | Owner must invest 10% of total project costs if existing business; 20% of new business |
| Job Creation: | One (1) job created for every $15,000 borrowed |
| Fees: | $100 application fee; no processing fee; 1% service fee of loaned amount |
| Contact: |
Buckeye Hills-Hocking Valley Regional Development District Washington County Rd Marietta, Ohio 45750 jgage@buckeyehills.org , Toll Free: |
| (ARC) Revolving Loan Fund | |
| Overview: | Any existing or new business, partnership, cooperative or corporation engaged in manufacturing, service or retail |
| Type: | Direct to business |
| Eligible Businesses: |
Commercial Maunfacturing Distribution Service Retail |
| Use: | Funds may be used for the acquisition and improvement of land, buildings, plant facilities, furnishings, fixtures and equipment. New construction or renovation of existing facilities, modernization, demolition and site preparation and or working capital. |
| Maximum: | Maximum of $100,000 or 50% of the project cost, whichever is achieved first |
| Term: | Real estate: maximum 15 years; inventory, machinery and equipment: 5-7 years useful life of equipment; working capital: 3-5 years |
| Rates: | Interest rates are determined on a case-by-case basis with a minimum interest rate of 4%. All projects are rated dependent on risk. Rates are fixed for the term of the loan. Each loan will be secured by appropriate collateral, mortgages or liens in addition to a promissory note. |
| Equity: | Owner must invest 10% of total project costs if existing business; 20% of new business |
| Job Creation: | One (1) job created for every $15,000 borrowed |
| Bank Loan: | Private lender required for dollar-to-dollar match of bank financing |
| Fees: | $100 application fee; $250 processing fee; 1% service fee of loaned amount |
| Contact: |
Buckeye Hills-Hocking Valley Regional Development District Washington County Rd Marietta, Ohio 45750 jgage@buckeyehills.org , Toll Free: |
State Loans
| Appalachian Ohio Microloan Program | |
| Type: | Direct to business |
| Eligible Businesses: |
Retail Commercial Maunfacturing Distribution Service Day Care Providers |
| Use: | Purchase of machinery and equipment, furniture and fixtures, inventory and supplies, advertising and promotion materials, remodeling expenses, working capital up to six (6) months |
| Maximum: | Up to $35,000 |
| Term: | May range from six (6) months to six (6) years |
| Rates: | 12.5% |
| Equity: | No equity required; all loans require enough collateral to completely secure the amount borrowed |
| Bank Loan: | None, this loan program is available to help women, minorities and low-income individuals who cannot get business loans from banks; for loans between $15,000 and $25,000 must have proof of denial from two banks |
| Fees: | Application fee; technical assistance fee: 1% of the loan, up to $100; closing costs |
| Contact: |
Enterprise Development Corporation Phone: 740-797-9646 Fax: 740-797-9659 9030 Hocking Hills Drive The Plains, Ohio45780 Toll Free: |
| Rural Development Revolving Loan Fund | |
| Type: | Direct to business |
| Eligible Businesses: |
Retail Commercial Maunfacturing Distribution Service Day Care Providers |
| Use: | Land acquisition and improvements, purchase or remodeling of a building, construction of or addition to a building, purchase of machinery or equipment, leasehold improvements, inventory, working capital, start-up operational costs |
| Maximum: | 75% of project cost, up to $150,000 |
| Term: | Useful life (up to seven years) when purchasing equipment; up to 15 years when purchasing real estate with loan proceeds |
| Rates: | Prime rate plus 2%, may match lender rate |
| Equity: | Prefer a 5% minimum |
| Bank Loan: | Participation is initially (25% - 50%) by traditional lender or Non-EDC source; the Revolving Loan Fund is used for gap financing |
| Fees: | Application fee, $100; closing fees, 2% of total loan amount; all applicable closing costs |
| Contact: |
Enterprise Development Corporation Phone: 740-797-9646 Fax: 740-797-9659 9030 Hocking Hills Drive The Plains, Ohio45780 Toll Free: |
| Regional 166 / Pioneer Loan Program | |
| Type: | Direct to business |
| Eligible Businesses: |
Retail Commercial Maunfacturing Distribution Service Day Care Providers |
| Use: | Land acquisition and improvements, purchase or remodeling of a building, construction of or addition to a building, purchase of machinery or equipment |
| Maximum: | 75% of project cost, or up to $350,000, whichever is less |
| Term: | Same as bank term; maximum term 15 years for real estate; 10 years for machinery and equipment |
| Rates: | Fixed rate, 5% |
| Equity: | Minimum 10% equity investment |
| Job Creation: | One job for each $35,000 of Ohio 166 financing |
| Bank Loan: | 15%-50% of project cost; fixed or floating rate |
| Fees: | $200 application fee; attorney’s fee $1,200; up-front processing: 1.5%; annual: .25% servicing fee |
| Contact: |
Enterprise Development Corporation Phone: 740-797-9646 Fax: 740-797-9659 9030 Hocking Hills Drive The Plains, Ohio45780 Toll Free: |
Federal Loans
| U. S. Small Business Administration Prequalification Loan | |
| Overview: | Small businesses owned by women, minorities, veterans, exporters, plus rural small businesses and those in certain designated industries and geographical areas. Retail, service, commercial, manufacturing, and distribution businesses |
| Type: | Partial Loan Guarantee |
| Eligible Businesses: |
Commercial Maunfacturing Distribution Service |
| Use: | Real estate, equipment, working capital, inventory |
| Maximum: | Up to $250,000; guarantee 75% to 80% |
| Term: | Working capital 5-7 years; equipment 5-15 years; real estate 15-25 years |
| Rates: | Negotiated fixed or floating up to prime rate plus 2.75% |
| Equity: | Start-ups must have 20-30% equity; more is required on higher risk businesses; requires personal guarantee |
| Bank Loan: | Enables an applicant to prequalify for a 7A loan guarantee before going to the bank. Focuses on applicant’s character, credit, experience and reliability, rather than assets. Enterprise Development Corporation is an approved intermediary. |
| Fees: | Application fee $400; Small Business Administration fee 2-3% |
| Contact: |
Morgan County Engineer
Richard Hardison County Engineer 19 E. Main Street McConnelsville, Ohio43756 Toll Free: 740-962-3171 |
Regional Loans
| (ARC) Revolving Loan Fund | |
| Overview: | Any existing or new business, partnership, cooperative or corporation engaged in manufacturing, service or retail |
| Type: | Direct to business |
| Eligible Businesses: |
Commercial Maunfacturing Distribution Service Retail |
| Use: | Funds may be used for the acquisition and improvement of land, buildings, plant facilities, furnishings, fixtures and equipment. New construction or renovation of existing facilities, modernization, demolition and site preparation and or working capital. |
| Maximum: | Maximum of $100,000 or 50% of the project cost, whichever is achieved first |
| Term: | Real estate: maximum 15 years; inventory, machinery and equipment: 5-7 years useful life of equipment; working capital: 3-5 years |
| Rates: | Interest rates are determined on a case-by-case basis with a minimum interest rate of 4%. All projects are rated dependent on risk. Rates are fixed for the term of the loan. Each loan will be secured by appropriate collateral, mortgages or liens in addition to a promissory note. |
| Equity: | Owner must invest 10% of total project costs if existing business; 20% of new business |
| Job Creation: | One (1) job created for every $15,000 borrowed |
| Bank Loan: | Private lender required for dollar-to-dollar match of bank financing |
| Fees: | $100 application fee; $250 processing fee; 1% service fee of loaned amount |
| Contact: |
Buckeye Hills-Hocking Valley Regional Development District Washington County Rd Marietta, Ohio 45750 jgage@buckeyehills.org , Toll Free: |
State Loans
| Appalachian Ohio Microloan Program | |
| Type: | Direct to business |
| Eligible Businesses: |
Retail Commercial Maunfacturing Distribution Service Day Care Providers |
| Use: | Purchase of machinery and equipment, furniture and fixtures, inventory and supplies, advertising and promotion materials, remodeling expenses, working capital up to six (6) months |
| Maximum: | Up to $35,000 |
| Term: | May range from six (6) months to six (6) years |
| Rates: | 12.5% |
| Equity: | No equity required; all loans require enough collateral to completely secure the amount borrowed |
| Bank Loan: | None, this loan program is available to help women, minorities and low-income individuals who cannot get business loans from banks; for loans between $15,000 and $25,000 must have proof of denial from two banks |
| Fees: | Application fee; technical assistance fee: 1% of the loan, up to $100; closing costs |
| Contact: |
Enterprise Development Corporation Phone: 740-797-9646 Fax: 740-797-9659 9030 Hocking Hills Drive The Plains, Ohio45780 Toll Free: |
| Rural Development Revolving Loan Fund | |
| Type: | Direct to business |
| Eligible Businesses: |
Retail Commercial Maunfacturing Distribution Service Day Care Providers |
| Use: | Land acquisition and improvements, purchase or remodeling of a building, construction of or addition to a building, purchase of machinery or equipment, leasehold improvements, inventory, working capital, start-up operational costs |
| Maximum: | 75% of project cost, up to $150,000 |
| Term: | Useful life (up to seven years) when purchasing equipment; up to 15 years when purchasing real estate with loan proceeds |
| Rates: | Prime rate plus 2%, may match lender rate |
| Equity: | Prefer a 5% minimum |
| Bank Loan: | Participation is initially (25% - 50%) by traditional lender or Non-EDC source; the Revolving Loan Fund is used for gap financing |
| Fees: | Application fee, $100; closing fees, 2% of total loan amount; all applicable closing costs |
| Contact: |
Enterprise Development Corporation Phone: 740-797-9646 Fax: 740-797-9659 9030 Hocking Hills Drive The Plains, Ohio45780 Toll Free: |
| Regional 166 / Pioneer Loan Program | |
| Type: | Direct to business |
| Eligible Businesses: |
Retail Commercial Maunfacturing Distribution Service Day Care Providers |
| Use: | Land acquisition and improvements, purchase or remodeling of a building, construction of or addition to a building, purchase of machinery or equipment |
| Maximum: | 75% of project cost, or up to $350,000, whichever is less |
| Term: | Same as bank term; maximum term 15 years for real estate; 10 years for machinery and equipment |
| Rates: | Fixed rate, 5% |
| Equity: | Minimum 10% equity investment |
| Job Creation: | One job for each $35,000 of Ohio 166 financing |
| Bank Loan: | 15%-50% of project cost; fixed or floating rate |
| Fees: | $200 application fee; attorney’s fee $1,200; up-front processing: 1.5%; annual: .25% servicing fee |
| Contact: |
Enterprise Development Corporation Phone: 740-797-9646 Fax: 740-797-9659 9030 Hocking Hills Drive The Plains, Ohio45780 Toll Free: |
Federal Loans
| U. S. Small Business Administration Prequalification Loan | |
| Overview: | Small businesses owned by women, minorities, veterans, exporters, plus rural small businesses and those in certain designated industries and geographical areas. Retail, service, commercial, manufacturing, and distribution businesses |
| Type: | Partial Loan Guarantee |
| Eligible Businesses: |
Commercial Maunfacturing Distribution Service |
| Use: | Real estate, equipment, working capital, inventory |
| Maximum: | Up to $250,000; guarantee 75% to 80% |
| Term: | Working capital 5-7 years; equipment 5-15 years; real estate 15-25 years |
| Rates: | Negotiated fixed or floating up to prime rate plus 2.75% |
| Equity: | Start-ups must have 20-30% equity; more is required on higher risk businesses; requires personal guarantee |
| Bank Loan: | Enables an applicant to prequalify for a 7A loan guarantee before going to the bank. Focuses on applicant’s character, credit, experience and reliability, rather than assets. Enterprise Development Corporation is an approved intermediary. |
| Fees: | Application fee $400; Small Business Administration fee 2-3% |
| Contact: |
Morgan County Engineer
Richard Hardison County Engineer 19 E. Main Street McConnelsville, Ohio43756 Toll Free: 740-962-3171 |
Regional Loans
| (ARC) Revolving Loan Fund | |
| Overview: | Any existing or new business, partnership, cooperative or corporation engaged in manufacturing, service or retail |
| Type: | Direct to business |
| Eligible Businesses: |
Commercial Maunfacturing Distribution Service Retail |
| Use: | Funds may be used for the acquisition and improvement of land, buildings, plant facilities, furnishings, fixtures and equipment. New construction or renovation of existing facilities, modernization, demolition and site preparation and or working capital. |
| Maximum: | Maximum of $100,000 or 50% of the project cost, whichever is achieved first |
| Term: | Real estate: maximum 15 years; inventory, machinery and equipment: 5-7 years useful life of equipment; working capital: 3-5 years |
| Rates: | Interest rates are determined on a case-by-case basis with a minimum interest rate of 4%. All projects are rated dependent on risk. Rates are fixed for the term of the loan. Each loan will be secured by appropriate collateral, mortgages or liens in addition to a promissory note. |
| Equity: | Owner must invest 10% of total project costs if existing business; 20% of new business |
| Job Creation: | One (1) job created for every $15,000 borrowed |
| Bank Loan: | Private lender required for dollar-to-dollar match of bank financing |
| Fees: | $100 application fee; $250 processing fee; 1% service fee of loaned amount |
| Contact: |
Buckeye Hills-Hocking Valley Regional Development District Washington County Rd Marietta, Ohio 45750 jgage@buckeyehills.org , Toll Free: |
State Loans
| Rural Development Revolving Loan Fund | |
| Type: | Direct to business |
| Eligible Businesses: |
Retail Commercial Maunfacturing Distribution Service Day Care Providers |
| Use: | Land acquisition and improvements, purchase or remodeling of a building, construction of or addition to a building, purchase of machinery or equipment, leasehold improvements, inventory, working capital, start-up operational costs |
| Maximum: | 75% of project cost, up to $150,000 |
| Term: | Useful life (up to seven years) when purchasing equipment; up to 15 years when purchasing real estate with loan proceeds |
| Rates: | Prime rate plus 2%, may match lender rate |
| Equity: | Prefer a 5% minimum |
| Bank Loan: | Participation is initially (25% - 50%) by traditional lender or Non-EDC source; the Revolving Loan Fund is used for gap financing |
| Fees: | Application fee, $100; closing fees, 2% of total loan amount; all applicable closing costs |
| Contact: |
Enterprise Development Corporation Phone: 740-797-9646 Fax: 740-797-9659 9030 Hocking Hills Drive The Plains, Ohio45780 Toll Free: |
| Regional 166 / Pioneer Loan Program | |
| Type: | Direct to business |
| Eligible Businesses: |
Retail Commercial Maunfacturing Distribution Service Day Care Providers |
| Use: | Land acquisition and improvements, purchase or remodeling of a building, construction of or addition to a building, purchase of machinery or equipment |
| Maximum: | 75% of project cost, or up to $350,000, whichever is less |
| Term: | Same as bank term; maximum term 15 years for real estate; 10 years for machinery and equipment |
| Rates: | Fixed rate, 5% |
| Equity: | Minimum 10% equity investment |
| Job Creation: | One job for each $35,000 of Ohio 166 financing |
| Bank Loan: | 15%-50% of project cost; fixed or floating rate |
| Fees: | $200 application fee; attorney’s fee $1,200; up-front processing: 1.5%; annual: .25% servicing fee |
| Contact: |
Enterprise Development Corporation Phone: 740-797-9646 Fax: 740-797-9659 9030 Hocking Hills Drive The Plains, Ohio45780 Toll Free: |
Federal Loans
| U. S. Small Business Administration Prequalification Loan | |
| Overview: | Small businesses owned by women, minorities, veterans, exporters, plus rural small businesses and those in certain designated industries and geographical areas. Retail, service, commercial, manufacturing, and distribution businesses |
| Type: | Partial Loan Guarantee |
| Eligible Businesses: |
Commercial Maunfacturing Distribution Service |
| Use: | Real estate, equipment, working capital, inventory |
| Maximum: | Up to $250,000; guarantee 75% to 80% |
| Term: | Working capital 5-7 years; equipment 5-15 years; real estate 15-25 years |
| Rates: | Negotiated fixed or floating up to prime rate plus 2.75% |
| Equity: | Start-ups must have 20-30% equity; more is required on higher risk businesses; requires personal guarantee |
| Bank Loan: | Enables an applicant to prequalify for a 7A loan guarantee before going to the bank. Focuses on applicant’s character, credit, experience and reliability, rather than assets. Enterprise Development Corporation is an approved intermediary. |
| Fees: | Application fee $400; Small Business Administration fee 2-3% |
| Contact: |
Morgan County Engineer
Richard Hardison County Engineer 19 E. Main Street McConnelsville, Ohio43756 Toll Free: 740-962-3171 |
State Loans
| Appalachian Ohio Microloan Program | |
| Type: | Direct to business |
| Eligible Businesses: |
Retail Commercial Maunfacturing Distribution Service Day Care Providers |
| Use: | Purchase of machinery and equipment, furniture and fixtures, inventory and supplies, advertising and promotion materials, remodeling expenses, working capital up to six (6) months |
| Maximum: | Up to $35,000 |
| Term: | May range from six (6) months to six (6) years |
| Rates: | 12.5% |
| Equity: | No equity required; all loans require enough collateral to completely secure the amount borrowed |
| Bank Loan: | None, this loan program is available to help women, minorities and low-income individuals who cannot get business loans from banks; for loans between $15,000 and $25,000 must have proof of denial from two banks |
| Fees: | Application fee; technical assistance fee: 1% of the loan, up to $100; closing costs |
| Contact: |
Enterprise Development Corporation Phone: 740-797-9646 Fax: 740-797-9659 9030 Hocking Hills Drive The Plains, Ohio45780 Toll Free: |
Local Loans
| Revolving Loan Fund, County of Athens CDBG | |
| Overview: | must be located within Athens County |
| Type: | Direct to business |
| Eligible Businesses: |
Retail Commercial Maunfacturing Distribution Service Day Care Providers |
| Use: | Land acquisition and improvements, construction, machinery and equipment, working capital (under limited circumstances) |
| Maximum: | $20,000 - $490,000, subject to availability of funds |
| Term: | Flexible, based on need, size of loan and repayment ability; maximum term for working capital is 3 years; maximum term for machinery and equipment matches its useful life; maximum term for real estate is 20 years |
| Rates: | 5% to 10% financing rate |
| Equity: | Minimum 5%, bank participation or equity must equal dollar-for-dollar match with loan funds |
| Job Creation: | One full-time equivalent job must be created for every $15,000 of RLF financing |
| Fees: | Application fee $200; borrower pays closing costs, 2% of loan amount and closing fees |
| Contact: |
, Toll Free: |
| Minority Direct Loan | |
| Overview: | Must be a state-certified minority-owned business, Loans available for a company must be at least 51% minority-owned and controlled, must show repayment ability, management capabilities |
| Type: | Direct to business |
| Eligible Businesses: |
Commercial Distribution Maunfacturing Retail Service |
| Use: | Purchase or improvement of fixed assets. Ohio prevailing wage rates apply for construction. |
| Maximum: | 40% of project cost, up to $700,000 |
| Term: | Maximum term is 10 years |
| Rates: | Fixed at four-and-a-half percent (4.5%) |
| Equity: | May be required |
| Job Creation: | One job for each $15,000 of loan financing |
| Contact: |
Office of Minority Financial Incentive Ohio Department of Development 77 S. High Street Columbus, Ohio43226 Toll Free:(800) 848-1300 (614) 644-7708 |
| Village of Caldwell Downtown Revitalization Loan Fund | |
| Overview: | Direct loan to business and-or building owner. May be building owner or renter, if renter must have approval from owner |
| Type: | Direct to business |
| Eligible Businesses: |
Building Renter or Owner |
| Use: | Façade improvements, roof repairs, awning purchase and installation. |
| Term: | Depends on amount borrowed, repayment $1,000/year, maximum 5 years. |
| Rates: | Interest rate of 3% |
| Equity: | |
| Contact: |
Caldwell Savings & Loan Co. Phone: 740-732-5678 425 Main St. Caldwell, Ohio43724 Toll Free: |
| Meigs County Microenterprise Program | |
| Overview: | Applicant must have completed Small Business Training and Development Course prior to loan application. Must be a resident of Meigs County (at least 6 months). Applicant household must meet Meigs County Low/Moderate Income guidelines. Acceptable credit history/debt ratio (accounts should be current; a history of delinquency could be used as reason for denial, as could bankruptcy). Collateral will be required for all loans. |
| Type: | Direct to business |
| Eligible Businesses: |
Commercial Retail Maunfacturing Distribution Service |
| Use: | Start-up/seed capital loans; small, short-term working capital loans; equipment loans/asset purchase; inventory/materials; business expansion |
| Maximum: | Small businesses who employ fewer than 500 people |
| Term: | Short-term loans – not to exceed five (5) years; length of term determined by amount of loan/use; minimum term 6 months |
| Rates: | Fixed – prime at time of loan closing plus 2 points |
| Equity: | Applicant investment will be an amount that equals 2% of funds borrowed in to a loan loss reserve account (minimum amount being $20 and maximum amount being $200). The borrower is refunded this investment based on successful repayment of the loan. |
| Contact: |
Meigs County Microenterprise Program Jean Trussell Clients Administrator 39350 Union Avenue Pomeroy, Ohio Toll Free: 740-992-2733 740-992-7908 |
| Revolving Loan Fund, County of Perry CDGB | |
| Overview: | Retail, commercial, manufacturing, distribution or service; must be located within Perry County |
| Type: | Direct to business |
| Eligible Businesses: |
Retail Commercial Maunfacturing Distribution Service |
| Use: | Land acquisition and improvements, construction, machinery and equipment, working capital (under limited circumstances) |
| Maximum: | $20,000 - $490,000, subject to availability of funds |
| Term: | Flexible, based on need, size of loan and repayment ability; maximum term for working capital is 3 years; maximum term for machinery and equipment matches its useful life; maximum term for real estate is 20 years |
| Rates: | 5% to 10% financing rate |
| Equity: | Minimum 5%, bank participation or equity must equal dollar-for-dollar match with loan funds |
| Job Creation: | One full-time equivalent job must be created for every $15,000 of RLF financing |
| Fees: | Application fee $200; borrower pays closing costs, 2% of loan amount and closing fees |
| Contact: |
Village of Somerset Clerk/Treasurer Office
Phone: 740-743-2963 100 Public Square Somerset, Ohio43783 Toll Free: |
| Microenterprise Loan Fund, Washington-Morgan Community Action | |
| Overview: | Washington-Morgan Community Action in cooperation with The Small Business Development Center (SBDC) at Marietta College. Must participate in the training and technical assistance provided by the SBDC, including attending “Start Your Own Business/Getting Money for Your Business” workshop and one-on-one consulting. Applicants must live in Morgan or Washington County; have household incomes that are less than the HUD Section B income guidelines (depending on family size; income range $22,400 to $45,600); targets new businesses in the Frontier Area. |
| Type: | Direct to business |
| Eligible Businesses: |
Commercial Distribution Maunfacturing Retail Service |
| Use: | Working capital; land acquisition, building construction/renovation; purchase of machinery or equipment. |
| Maximum: | $15,000 (most less than $5,000) and no more than 95% of total project cost |
| Job Creation: | Minimum of one job (could be owner) |
| Contact: |
The Ohio Small Business Development Center at Marietta, Morgan County Outreach Center
6A W. Main Street P.O. Box 179 McConnelsville, Ohio43756 jshaner@postoffice.ag.ohio-state.edu Toll Free: 740-962-4854 740-962-6508 ohioline.ag.ohio-state.edu |
| Revolving Loan Fund, City of Logan | |
| Overview: | Retail, commercial, manufacturing, distribution or service; must be located within the City of Logan |
| Type: | Direct to business |
| Eligible Businesses: |
Commercial Retail Maunfacturing Service |
| Use: | Land acquisition and improvements, construction, machinery and equipment, working capital (under limited circumstances) |
| Maximum: | $20,000 - $490,000, subject to availability of funds |
| Term: | Flexible, based on need, size of loan and repayment ability; maximum term for working capital is 3 years; maximum term for machinery and equipment matches its useful life; maximum term for real estate is 20 years |
| Rates: | 5% to 10%, fixed financing rate |
| Equity: | Minimum 5%, bank participation or equity must equal dollar-for-dollar match with loan funds |
| Job Creation: | One full-time equivalent job must be created for every $15,000 of RLF financing |
| Fees: | Application fee $200; borrower pays closing costs, 2% of loan amount and closing fees |
| Contact: |
Enterprise Development Corporation Phone: 740-797-9646 Fax: 740-797-9659 9030 Hocking Hills Drive The Plains, Ohio45780 Toll Free: |
Regional Loans
| Appalachian Child Day Care Microenterprise Program | |
| Overview: | Licensed Type A and B, Family Day Care Providers; Licensed Day Care Centers |
| Type: | Direct to business |
| Eligible Businesses: |
Day Care Providers |
| Maximum: | Working capital; salaries for staff; inventory and supplies; learning tools equipment; minor remodeling/upgrading to meet health and safety requirements. |
| Term: | Maximum term five years; flexible based on need, size of loan, repayment ability |
| Rates: | Prime rate |
| Equity: | 5% preferred; demonstrated sweat equity |
| Fees: | Application fee, $100; closing fees of 2% of total loan amount; all applicable closing costs |
| Contact: |
Enterprise Development Corporation Phone: 740-797-9646 Fax: 740-797-9659 9030 Hocking Hills Drive The Plains, Ohio45780 Toll Free: |
| (EDA) Revolving Loan Fund | |
| Overview: | Any existing or new business, partnership, cooperative or corporation engaged in manufacturing, service or retail. |
| Type: | Direct to business |
| Eligible Businesses: |
Maunfacturing Service Retail |
| Use: | Funds may be used for the acquisition and improvement of land, buildings, plant facilities and equipment. New construction or renovation of existing facilities, modernization, demolition and site preparation and or working capital. |
| Maximum: | Must have 500 or fewer employees. |
| Term: | Real estate: maximum 12 years; inventory machinery and equipment: 5-7 years useful life of equipment; working capital: 3-5 years |
| Rates: | Maximum is 4% below prime rate the date the loan is approved. Fixed for term of loan; deferments available |
| Equity: | Owner must invest 10% of total project costs if existing business; 20% of new business |
| Job Creation: | One (1) job created for every $10,000 borrowed |
| Bank Loan: | Private lender required for dollar-to-dollar financing. |
| Fees: | $100 application fee; $250 processing fee; 1% service fee of loaned amount |
| Contact: |
Buckeye Hills-Hocking Valley Regional Development District Washington County Rd Marietta, Ohio 45750 jgage@buckeyehills.org , Toll Free: |
| Farmers Home (FmHA) Revolving Loan Fund | |
| Type: | Direct to business |
| Eligible Businesses: |
Maunfacturing Service Retail |
| Use: | Land or building acquisition; renovation; site preparations, machinery and equipment; working capital furnishings and fixtures inventory |
| Maximum: | Must have 500 or fewer employees |
| Term: | Real estate: maximum 15 years; inventory machinery and equipment: 5-7 years useful life of equipment; working capital: 3-5 years |
| Rates: | Maximum is 4% below prime rate the date the loan is approved. Fixed for term of loan; deferments available |
| Equity: | Owner must invest 10% of total project costs if existing business; 20% of new business |
| Job Creation: | One (1) job created for every $10000 borrowed |
| Bank Loan: | Private lender required for dollar-to-dollar match of bank financing. 50% of the project cost up to a maximum of $162,700 |
| Fees: | $100 application fee; $250 processing fee; 1% service fee of loaned amount |
| Contact: |
Enterprise Development Corporation Phone: 740-797-9646 Fax: 740-797-9659 9030 Hocking Hills Drive The Plains, Ohio45780 Toll Free: |
Local Loans
| Monroe County Revolving Loan Fund | |
| Overview: | Retail, commercial, manufacturing, distribution or service businesses located in Monroe County. |
| Type: | Direct to business |
| Eligible Businesses: |
Distribution Commercial Service |
| Use: | Purchase of real estate, buildings, equipment, machinery and working capital. No financing permitted of speculative ventures or existing debt. |
| Maximum: | 50% of total project, depending on availability of funds. |
| Term: | Negotiable. Most frequently five years. |
| Rates: | 50% of prime rate at closing. |
| Equity: | Minimum five percent (5%) cash. |
| Job Creation: | One job created for each $15,000 borrowed; 51% of all jobs must be low- moderate income. |
| Fees: | Standard recording fees |
| Contact: |
Monroe County Office of Economic Development and Tourism Phone: 740-472-0169 Fax: 740-472-0490 101 N. Main St. Room 11 Woodsfield, Ohio43793 gcwv@hotmail.com Toll Free: |
| Ohio Treasury Linked Deposit Program | |
| Type: | Direct to business |
| Eligible Businesses: |
Commercial Distribution Maunfacturing Retail Service |
| Use: | Fixed assets, working capital, debt refinancing |
| Maximum: | Small businesses that employ fewer than 150 people and maintain offices and operating facilities exclusively in Ohio |
| Term: | Full-term determined by the lending institution, Linked Deposit rate for two (2) years, possible two (2) year extension |
| Rates: | 3% below current lending rate fixed for two years (possible two year extension), bank may then extend term at current rates |
| Equity: | |
| Job Creation: | One (1) job created or retained for each $15,000 to $25,000 of Linked Deposit financing |
| Contact: |
Public Affairs Office State Treasurer
Sue Hamilton Attn: Investments, Sue Hamilton 30 E. Broad Street, 9th Floor Columbus, Ohio43226-0421 Toll Free:1-800-228-1102 614-466-8855 614-466-2499 |
| Ohio Treasury Agricultural Linked Deposit Program | |
| Overview: | For profit farming entity with majority of land and facilities in Ohio |
| Type: | Direct to business |
| Eligible Businesses: |
For Profit Farming Entity |
| Use: | Expenses to meet planting deadlines |
| Maximum: | Must employ fewer than 150 people |
| Term: | One (1) year, recipient can reapply each year |
| Rates: | 4% below the current market rate |
| Equity: | Determined by lending institution |
| Bank Loan: | Must have bank loan from eligible state depository or Production Credit Association |
| Contact: |
Public Affairs Office State Treasurer
Sue Hamilton Attn: Investments, Sue Hamilton 30 E. Broad Street, 9th Floor Columbus, Ohio43226-0421 Toll Free:1-800-228-1102 614-466-8855 614-466-2499 |
Federal Loans
| SBA Contract Loan Program | |
| Overview: | Construction contractors, general or special trade; manufacturers and service contractors with an assignable contract are eligible; must be in operation for 12 months before the date of the application |
| Type: | Direct to business |
| Eligible Businesses: |
Commercial Distribution Maunfacturing Service |
| Use: | Finance labor and material costs for one contract; cannot be used to finance receivables or inventory |
| Maximum: | Up to $155,000 guaranteed at up to 90%; up to $750,000 guaranteed at up to 85% |
| Term: | Typically a 12-month term; large contracts may be approved for 18 months by the District Director |
| Rates: | Interest rate set by the bank, not to exceed the maximum rate set by SBA |
| Equity: | Assignment of the contract proceeds is required as collateral; pledge of outside assets and secured personal guarantees are usually required. |
| Contact: |
U.S. Small Business Administration 2 Nationwide Plaza Columbus, Ohio43215-2391 Toll Free: 614-469-2391 |
| Small Business Energy and Conservation Loan Program | |
| Overview: | Must be engaged in engineering, manufacturing, distributing, marketing, installing or servicing products or services designed to conserve the nation’s energy resources |
| Type: | Direct to business |
| Eligible Businesses: |
Commercial Distribution Maunfacturing Retail Service |
| Use: | · Land acquisition and improvements, purchase or remodeling of a building, construction of or addition to a building, purchase machinery, equipment, furniture or fixtures; provide working capital for entry to expansion into eligible conservation project areas; up to 30% of loan proceeds may be used for research and development |
| Term: | Maximum term is 25 years |
| Rates: | Prime rate plus 2.25% to 2.75% |
| Equity: | Pledge adequate collateral and provide personal guarantees if requested by the Small Business Administration |
| Contact: |
U.S. Small Business Administration 2 Nationwide Plaza Columbus, Ohio43215-2391 Toll Free: 614-469-2391 |
| SBA Guaranty Loan 7(a) | |
| Type: | Partial Loan Guarantee |
| Eligible Businesses: |
Commercial Distribution Retail Maunfacturing Service |
| Use: | Working capital; acquisition of supplies, inventory or fixed assets (real estate, machinery, equipment); financing of contracts |
| Maximum: | Must have fewer than 500 employees; start-up and existing business; small business. · : $750,000 guaranteed at 75% (80% if total loan is $100,000 or less) |
| Term: | 5 to 10 years for working capital; up to 25 years for fixed assets (not to exceed life of equipment) |
| Rates: | Negotiated, up to prime rate plus 2.75%; may be fixed or variable |
| Equity: | Start-ups must have 20% to 30% equity investment; more is required on higher risk businesses; requires a personal guarantee |
| Bank Loan: | Required; application is submitted through a private lender |
| Contact: |
U.S. Small Business Administration 2 Nationwide Plaza Columbus, Ohio43215-2391 Toll Free: 614-469-2391 |
| SBA Guarantee Loans 7(a)/LowDoc | |
| Type: | Direct to business |
| Eligible Businesses: |
Commercial Distribution Maunfacturing Retail Retail |
| Use: | Working capital; acquisition of supplies, inventory or fixed assets; financing of contracts |
| Maximum: | Start-ups; businesses with $5 million or less annual sales for the past 3 years; employ 100 or fewer. $150,000 guaranteed at up to 80% |
| Term: | Not to exceed 25 years for fixed assets; 10 year maximum for all other uses |
| Rates: | Negotiated, up to prime rate plus 2.75%; may be fixed or variable |
| Equity: | Start-ups must have 20% to 30% equity investment; more is required on higher risk businesses; requires a personal guarantee |
| Bank Loan: | Required; application is submitted through a private lender |
| Contact: |
U.S. Small Business Administration 2 Nationwide Plaza Columbus, Ohio43215-2391 Toll Free: 614-469-2391 |
| Rural Development (RD) Business and Industry Guaranteed Loan | |
| Overview: | Rural areas and small communities and towns incorporated under 50,000 population and not adjacent to urban areas. · : Retail, manufacturing, wholesale and services. Individual, sole proprietorship, partnership, corporation, cooperative, trust or other legal entity operated as profit or non-profit in the State of Ohio. |
| Type: | Partial Loan Guarantee |
| Eligible Businesses: |
Commercial Distribution Maunfacturing Retail Service |
| Use: | The purpose need not be agriculturally related. Loan purposes can include real estate, machinery and equipment, or term working capital. |
| Maximum: | $10,000,000 ($25,000,000 under limited circumstances) and preference given to loans $5,000,000 and under. Loans under $500,000 should usually be referred to the Small Business Administration (SBA). |
| Term: | Maximum 30 years are negotiable between the lender and borrower subject to approval by Rural Development. Generally, personal guarantees will be required. |
| Rates: | Fixed or variable |
| Equity: | A new start-up business should have a start-up balance sheet tangible book equity of 20-25% (appraisal surplus and subordinated debt will not be included as equity items). Borrowers with a history of proven successful operations must have a minimum of 10% tangible balance sheet equity. Larger amounts may be required. |
| Job Creation: | Projects must involve the creation and/or saving of jobs. |
| Bank Loan: | Required; application is submitted through a private lender. Must be a local regulated lender such as any federal or state chartered bank, savings and loan association, building and loan association, or some mortgage and insurance companies. A maximum percent of guarantee is normally 80%. |
| Contact: |
Village of Somerset Clerk/Treasurer Office
Phone: 740-743-2963 100 Public Square Somerset, Ohio43783 Toll Free: |
Regional Loans
| (ARC) Revolving Loan Fund | |
| Overview: | Any existing or new business, partnership, cooperative or corporation engaged in manufacturing, service or retail |
| Type: | Direct to business |
| Eligible Businesses: |
Commercial Maunfacturing Distribution Service Retail |
| Use: | Funds may be used for the acquisition and improvement of land, buildings, plant facilities, furnishings, fixtures and equipment. New construction or renovation of existing facilities, modernization, demolition and site preparation and or working capital. |
| Maximum: | Maximum of $100,000 or 50% of the project cost, whichever is achieved first |
| Term: | Real estate: maximum 15 years; inventory, machinery and equipment: 5-7 years useful life of equipment; working capital: 3-5 years |
| Rates: | Interest rates are determined on a case-by-case basis with a minimum interest rate of 4%. All projects are rated dependent on risk. Rates are fixed for the term of the loan. Each loan will be secured by appropriate collateral, mortgages or liens in addition to a promissory note. |
| Equity: | Owner must invest 10% of total project costs if existing business; 20% of new business |
| Job Creation: | One (1) job created for every $15,000 borrowed |
| Bank Loan: | Private lender required for dollar-to-dollar match of bank financing |
| Fees: | $100 application fee; $250 processing fee; 1% service fee of loaned amount |
| Contact: |
Buckeye Hills-Hocking Valley Regional Development District Washington County Rd Marietta, Ohio 45750 jgage@buckeyehills.org , Toll Free: |
| (EDA) Revolving Loan Fund | |
| Overview: | Any existing or new business, partnership, cooperative or corporation engaged in manufacturing, service or retail. |
| Type: | Direct to business |
| Eligible Businesses: |
Maunfacturing Service Retail |
| Use: | Funds may be used for the acquisition and improvement of land, buildings, plant facilities and equipment. New construction or renovation of existing facilities, modernization, demolition and site preparation and or working capital. |
| Maximum: | Must have 500 or fewer employees. |
| Term: | Real estate: maximum 12 years; inventory machinery and equipment: 5-7 years useful life of equipment; working capital: 3-5 years |
| Rates: | Maximum is 4% below prime rate the date the loan is approved. Fixed for term of loan; deferments available |
| Equity: | Owner must invest 10% of total project costs if existing business; 20% of new business |
| Job Creation: | One (1) job created for every $10,000 borrowed |
| Bank Loan: | Private lender required for dollar-to-dollar financing. |
| Fees: | $100 application fee; $250 processing fee; 1% service fee of loaned amount |
| Contact: |
Buckeye Hills-Hocking Valley Regional Development District Washington County Rd Marietta, Ohio 45750 jgage@buckeyehills.org , Toll Free: |
| Appalachian Regional Commission(ARC) Distressed County Loan Program | |
| Type: | Direct to business |
| Eligible Businesses: |
Retail Commercial Maunfacturing Distribution Service Day Care Providers |
| Use: | Land or building acquisition; renovation; site preparations, machinery and equipment; working capital furnishings and fixtures; inventory |
| Term: | Real estate: maximum 12 years; inventory, machinery and equipment: 5-7 years useful life of equipment; working capital: 3-5 years |
| Rates: | Maximum is 4% below prime rate the date the loan is approved. Fixed for term of loan; deferments available |
| Equity: | Owner must invest 10% of total project costs if existing business; 20% of new business |
| Job Creation: | One (1) job created for every $15,000 borrowed |
| Fees: | $100 application fee; no processing fee; 1% service fee of loaned amount |
| Contact: |
Buckeye Hills-Hocking Valley Regional Development District Washington County Rd Marietta, Ohio 45750 jgage@buckeyehills.org , Toll Free: |
| (ARC) Revolving Loan Fund | |
| Overview: | Any existing or new business, partnership, cooperative or corporation engaged in manufacturing, service or retail |
| Type: | Direct to business |
| Eligible Businesses: |
Commercial Maunfacturing Distribution Service Retail |
| Use: | Funds may be used for the acquisition and improvement of land, buildings, plant facilities, furnishings, fixtures and equipment. New construction or renovation of existing facilities, modernization, demolition and site preparation and or working capital. |
| Maximum: | Maximum of $100,000 or 50% of the project cost, whichever is achieved first |
| Term: | Real estate: maximum 15 years; inventory, machinery and equipment: 5-7 years useful life of equipment; working capital: 3-5 years |
| Rates: | Interest rates are determined on a case-by-case basis with a minimum interest rate of 4%. All projects are rated dependent on risk. Rates are fixed for the term of the loan. Each loan will be secured by appropriate collateral, mortgages or liens in addition to a promissory note. |
| Equity: | Owner must invest 10% of total project costs if existing business; 20% of new business |
| Job Creation: | One (1) job created for every $15,000 borrowed |
| Bank Loan: | Private lender required for dollar-to-dollar match of bank financing |
| Fees: | $100 application fee; $250 processing fee; 1% service fee of loaned amount |
| Contact: |
Buckeye Hills-Hocking Valley Regional Development District Washington County Rd Marietta, Ohio 45750 jgage@buckeyehills.org , Toll Free: |
Local Loans
| Microenterprise Loan Fund, Washington-Morgan Community Action | |
| Overview: | Washington-Morgan Community Action in cooperation with The Small Business Development Center (SBDC) at Marietta College. Must participate in the training and technical assistance provided by the SBDC, including attending “Start Your Own Business/Getting Money for Your Business” workshop and one-on-one consulting. Applicants must live in Morgan or Washington County; have household incomes that are less than the HUD Section B income guidelines (depending on family size; income range $22,400 to $45,600); targets new businesses in the Frontier Area. |
| Type: | Direct to business |
| Eligible Businesses: |
Commercial Distribution Maunfacturing Retail Service |
| Use: | Working capital; land acquisition, building construction/renovation; purchase of machinery or equipment. |
| Maximum: | $15,000 (most less than $5,000) and no more than 95% of total project cost |
| Job Creation: | Minimum of one job (could be owner) |
| Contact: |
The Ohio Small Business Development Center at Marietta, Morgan County Outreach Center
6A W. Main Street P.O. Box 179 McConnelsville, Ohio43756 jshaner@postoffice.ag.ohio-state.edu Toll Free: 740-962-4854 740-962-6508 ohioline.ag.ohio-state.edu |
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