Ohio 166 Loan
- Will finance up to 40% of an eligible fixed asset, manufacturing company project to a maximum of $350,000 (regional program) or $1,000,000 (statewide program)
- The current interest rate is 4.0 %, fixed for the term of between 5 and 15 years.
- One job must be created for every $35,000 borrowed.
- Contact: Toledo-Lucas County Port Authority at (419) 243-8251
Small Business Administration 504 Loan
- Will finance up to 40% of a fixed asset project to a maximum of $1.3 million ($2 million if a public policy goal is met; $4 million for manufacturing) SBA participation, for a 10 or 20 year term.
- One job must be created for every $50,000 borrowed under the program.
- Contact: Toledo-Lucas County Port Authority at (419) 243-8251
Ohio Minority Business Direct Loan Program
- Will finance up to 40% of project cost or $700,000, whichever is less, fixed at 3.5% up to 10 years.
- Organizations in business for at least 1 year and at least 5% minority-owned and controlled.
- Businesses must show repayment ability and management capabilities,
- Ohio prevailing wage rates apply to construction
- Contact: ODO, Minority Development Financing Commission at (614) 644-7708
Northwest Ohio Bond Fund and Stand Alone Bond Issues
- Will finance up to 90% of projects from $1,000,000 to $7,000,000 for good credit risks.
- Issuances may be either taxable or tax exempt, depending upon use.
- Also off balance sheet and government synthetic leases financing available for larger projects of qualified companies.
- Contact: Toledo-Lucas County Port Authority at (419) 243-8251