166 Regional Loan Program |
Type |
|
Direct loan to business |
Eligible Businesses: |
|
Primarily manufacturing and distribution businesses |
Use |
|
Land acquisition and improvements, purchase or remodeling of a building, construction of or addition to a building, purchase machinery or equipment |
Maximum |
|
40% of project cost up to $200,000; 30% of project cost up to $350,000. |
Term |
|
Same as bank term; maximum term 15 years |
Rates |
|
2-3 of prime, fixed rate |
Equity |
|
Minimum 10% equity investment |
Job Creation |
|
One job for each $15,000 of 166 financing |
Bank Loan |
|
50% of project cost; fixed or floating rate |
Fees |
|
Application fee; up-front processing: 1.5%; annual: .25% servicing fee |
Contact:
ACEnet Ventures
Columbus Rd.
Athens, Ohio 45701
740-592-3854 |
|
|
|
Appalachian Child Day Care Microenterprise Program |
Type |
|
Direct loan to business |
Eligible Businesses: |
|
Licensed Type A and B family day care providers; licensed day care centers |
Use |
|
Working capital; salaries for staff; inventory and supplies; equipment; minor remodeling-upgrading to meet health and safety requirements |
Maximum |
|
$25,000 |
Term |
|
Maximum term five years; flexible based on need, size of loan, repayment ability |
Rates |
|
Prime rate plus 2% at time of approval |
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
9030 Hocking Hills Drive
The Plains, OH 45780
phone: 740-797-9646 · fax: 740-797-9659 |
|
|
|
Appalachian Ohio Microloan Program |
Type |
|
Direct loan to business |
Eligible Businesses: |
|
Retail, commercial, manufacturing, distribution or service |
Size Standards |
|
Must have fewer than 500 employees |
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 $25,000 |
Term |
|
May range from six (6) months to six (6) years |
Rates |
|
Range from 11% to 12.75% |
Equity |
|
Minimum five percent (5%); 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
9030 Hocking Hills Drive
The Plains, OH 45780
phone: 740-797-9646 · fax: 740-797-9659 |
|
|
|
Buckeye Hills-Hocking Valley Regional Development District
ARC Revolving Loan Fund |
Type |
|
Direct loan to business |
Eligible Businesses: |
|
Retail, commercial, manufacturing, distribution or service |
Use |
|
Land acquisition and improvements, purchase or remodeling of a building, construction of or addition to a building, purchase machinery or equipment, working capital, start-up capital |
Maximum |
|
50% of project cost, up to $100,000 |
Term |
|
Useful life of machinery and equipment; up to 12 years for real estate |
Rates |
|
Half of Prime, minimum 4% |
Equity |
|
Minimum 10% equity investment for existing businesses; 20% equity for start-up businesses |
Job Creation |
|
One job for each $15,000 of RLF financing |
Fees |
|
Loan origination fee ($100); loan processing fee ($250); 1% servicing fee |
Contact:
Buckeye Hills-Hocking Valley Regional Development District
Route 1, PO Box 299D
Marietta, OH 45750
phone: 740-374-9436 · fax: 740-374-8038 |
| |
Buckeye Hills-Hocking Valley Regional Development District FmHA Revolving Loan Fund |
Type |
|
Direct loan to business |
Eligible Businesses: |
|
Retail, commercial, manufacturing, distribution or service |
Use |
|
Land acquisition and improvements, purchase or remodeling of a building, construction of or addition to a building, purchase machinery or equipment, working capital, start-up capital |
Maximum |
|
50% of project cost, up to $162,700 |
Term |
|
Useful life of machinery and equipment; up to 12 years for real estate |
Rates |
|
Half of Prime, minimum 4% |
Equity |
|
Minimum 10% equity investment for existing businesses; 20% equity for start-up businesses |
Job Creation |
|
One job for each $15,000 of RLF financing |
Bank Loan |
|
|
Fees |
|
Loan origination fee ($100); loan processing fee ($250); 1% servicing fee |
Contact:
Buckeye Hills-Hocking Valley Regional Development District
Route 1, PO Box 299D
Marietta, OH 45750
phone: 740-374-9436 · fax: 740-374-8038 |
|
|
|
Appalachian Rural Economic & Community Development Services Revolving Loan Fund |
Type |
|
Direct loan to business |
Eligible Businesses: |
|
Retail, commercial, manufacturing, distribution or service |
Size Standards |
|
Must have 500 or fewer employees |
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 |
Job Creation |
|
|
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
9030 Hocking Hills Drive
The Plains, OH 45780
phone: 740-797-9646 · fax: 740-797-9659 |
