Financial Assistance & Incentives

FINANCIAL ASSISTANCE

The Area Development Foundation can make financing a business start-up or expansion an easier experience. In addition to local loan programs, the ADF can assist your company with the paperwork to apply for financial incentives through the State of Ohio. These finance options are currently offered through ADF:

FEDERAL PROGRAMS

U.S. Small Business Administration 504 Loan Program

Eligible small businesses can receive long term, fixed rate financing with low down payment to be used for fixed assets and certian soft costs. The maximum participation is $1,000,000 or up to 40% of the project cost.

Linked Deposit Program

Under this program, Ohio based small businesses can recieve reduced rated for up to two years from qualifying lenders. The State Treasurer invests money at up to three percent below the market rate with the borrower's lending institution. The lender, in turn, reduces its loan rate accordingly to the borrower for the term of the State's investment.

STATE PROGRAMS

State of Ohio '166' Direct Loan Program

The 166 Direct Loan Program finances larger projects. One job must be created or saved for every $15,000 of State funds. The maximum participation is between $350,000 and $1,000,000 or up to 30% of the qualifying project. These loans also have a fixed rate of not more than 2/3 of the Prime lending rate. Fixed asset financing only.

State of Ohio Enterprise Cond Fund

Commercial and Industrial companies that will create new jobs in Ohio may be eligible for this program. Loans range from $1.5 million to $10 million or 90% of the total project.

State of Ohio '166' Regional Loan Program

Commercial and Industrial companies that can demonstrate that their projects will create or retain jobs in Ohio may qualify for this program. One job must be created or saved for every $35,000 of State funds. The maximum participation is $350,000 or up to 40% of the qualifying project. These loans have a fixed rate of not more than 2/3 of the Prime lending rate. Fixed assets financing only with this loan.

LOCAL PROGRAMS

Revolving Loan Fund

The ADF administers a county-wide Revolving Loan Fund to fill gaps in financing from conventional lenders for small growing businesses. The maximum participation for this program is $35,000.