Financing a business start-up or expansion
can be an overwhelming task. SDB Finance Corporation
can help simplify this process. In addition to offering
several direct financing programs, SDB Finance Corporation
can work with your company to identify and evaluate
all of the financing resources that are available for
your type of project. We can also help complete the
required paperwork and make sure that your project
meets all of the loan requirements.
These finance programs are currently offered through SDB Finance Corporation:
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 certain soft costs. The maximum
participation is $1,000,000 or up to 40% of the project cost.
State Programs
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.
State of Ohio '166' Direct Loan Program
Similar to the 166 Regional 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.
166 Loan Program Contact
Ronald W. Dietrich
Ohio Department of Development Office of Financial Incentives
State of Ohio Enterprise Bond 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.
Ohio Scrap Tire Loan Program
Eligible companies that will reduce the number of scrap tires in existence can
qualify for this loan with a low, fixed interest rate. The maximum participation
is $250,000 or up to 30% of the project cost.
“Linked Deposit" Program
Under this program, Ohio-based small businesses can receive reduced rates 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.
Local Programs
SDB Revolving Loan Fund
SDB Finance Corporation has established a county-wide Revolving Loan Fund to
fill financial gaps within the conventional lending community for small growing
firms. The maximum participation is $50,000.
Port Authority Financing
The Stark County Port Authority offers unique "off-balance sheet" financing
opportunities to companies interested in constructing or purchasing new manufacturing/distribution,
R & D, or office facilities.
For more information, contact
Larry Marcus or
Jeff Hasapis at
330.453.5900. |
