Experience Whitehouse Business Magazine - Page 9

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OHIO ENTERPRISE BOND FUND

The Ohio Enterprise Bond Fund provides revenue bond financing through an S&P rated fund, whereby proceeds from the sale of bonds are loaned to companies for fixed-rate, long-term capital asset financing. Rates are market-driven and fixed prior to funding. Loan terms range between 7 to 10 years for equipment and 15 to 20 years for real estate. Up to $10 million in financing is available through the program.

REGIONAL 166 DIRECT LOAN

The Regional 166 Direct Loan provides loans for land and building acquisition, construction, expansion, or renovation, and equipment purchases for eligible businesses. Regional economic development agencies administer the program. It provides low-interest loans up to 75 percent collateral value, not to exceed $500,000.

INNOVATION OHIO LOAN FUND

The Innovation Ohio Loan Fund provides loans for acquisition, construction, and related capital costs of technology, facilities, and equipment purchases. The fund was created to assist existing Ohio companies in developing next-generation products and services within the state’s Industry Sectors up to 75 percent ranging from $500,000 to $1.5 million.

OHIO GROW NOW

Ohio Grow Now is a partnership between the state’s eligible banks and the Ohio Treasury. The program enables small business owners to receive up to 3% interest rate reduction on a bank loan when they link the loan to job growth and retention in the state.

FINANCING OPTIONS-OTHER

Economic & Community Development Institute

ECDI connects their resources with aspiring entrepreneurs who wish to start or expand a small business. They fill a gap in the credit industry by offering small business loans ranging from $500 to $350,000 to entrepreneurs.

INCENTIVES

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