In an effort to better serve our community the Stark Economic Development Board looked for a teammate to provide SBA financing tools to our community. We were pleased to merge our finance organization with HCDC. HCDC was the perfect match because they bring expertise to help the Stark County business community as one of the largest non-bank SBA loan providers in Ohio, Kentucky and Southeast Indiana.
For over 30 years, HCDC based in Cincinnati, Ohio, has partnered with area private lenders to provide SBA loans to help businesses gain access to stable, long-term financing. Since 1982, HCDC has approved over $1 billion to area companies and helped finance the job creation of nearly 10,000 new jobs. For more information on HCDC, Inc., visit: www.hcdc.com.
A Powerful Financing Tool SBA 504
The U.S. Small Business Administration (SBA) 504 loan program provides small and medium-size businesses with long-term, low, fixed-rate financing for owner-occupied commercial real estate and heavy machinery projects. The inspiration behind the SBA 504 loan is to promote business investment and job creation by providing access to low down payment financing, so that small businesses can preserve cash to operate their business.
Designed to Help Businesses Grow Ohio Regional 166 Loan Program
The Ohio Regional “166″ Loan Program assists growing businesses in acquiring machinery, equipment and real estate through a partnership between business owners, conventional bank financing and HCDC.
The Ohio Regional 166 Loan is an attractive, fixed-interest rate loan with a lower down payment. The Program offers up to a 15-year term for real estate and up to a 7-year term for machinery and equipment (unless appraised for a longer life). Monthly payments are lower, so businesses can keep their cash for working capital. There is NO prepayment penalty. With over 20 years of experience with the Ohio Regional 166 Loan Program, HCDC’s team of experts will make the process simple for businesses and lending partners.
Call Jeff Hasapis at 330-806-9820 to see how HCDC can help your business!