Provides loans for land and building acquisition, expansion or renovation, and equipment purchase.
Rates / Terms:
Approximately 40% of total project cost or a maximum of $500,000, whichever is less, may be eligible;
Fixed rate at or below current market rates;
Equity minimum 10%;
In distressed areas of the state, preferential rates and terms are available;
State Development Director may authorize a higher loan amount or modified rate and terms that address a unique and demonstrated economic development need.
Commercial, manufacturing, industrial, or distribution entities; refinancing and retail projects are not eligible. Must show repayment and management capabilities; Must create or retain one job for every $50,000 of 166 Loan Program financing; Ohio prevailing wage rate applies to all construction and construction-related activies.
Provides loans for land and building acquisition, construction, expansion or renovation and equipment purchases for eligible businesses.
Rate / Terms:
Long-term, fixed rate for up to 20 years;
Interest rate based on Standard & Poor’s AA-minus rating, for up to 90% of total project amount.
Must show repayment and management capabilities. Must be able to document job creation or retention Ohio prevailing wage rate applies.