Areas Served: Hamilton County Business Center, Inc. (HCBC) resident clients
This small lending program provides loans up to $15,000 to Hamilton County Business Center, Inc. (HCBC) resident clients who have been located at 1775 or 1776 Mentor Avenue for at least 6 months.
Under this program, HCBC is able to make small dollar amount loans to qualified resident clients to further the development of their entrepreneurial ventures.
Rates and terms depend on risk, rationale, and profitability of the business.
Client Loan Program Framework Applicants: Must be a resident of HCBC Incubation Program for at least 6 months Amount: Up to $15,000 Terms: 30 days to 4 years Interest Rate: – Short Term Notes (30 Days to 364 Days) – 5.25 % – Long Term Notes (1 Year to 4 Years) – 5.75 % Rates subject to change at any time Eligible Uses: * Working Capital * Inventory * Supplies * Contract Financing * Industry Specific Equipment Non-Eligible Uses: * Leasehold improvements * Payment of other loans or consolidation of existing debt * Repayment of Partners or Shareholders * Real Estate Purchases * Non-Business Related Expenses Application Process Client must submit the following: * Application * Current Year to Date Financial Statement (Balance Sheet and Income Statement) that is within 60 days of the application date * If available, any fiscal year end financial statements within the past 3 years of application date * Personal Financial Statement for any owner with 10% or greater ownership stake * Annual Tax Returns Personal & Corporate last 2 years submitted, if possible.
* Status of business document that is not greater that 3 pages, which includes current status of business, reason for borrowing, rationale for repayment, ownership’s contribution to project being considered.
Collateral: All Business Assets / Specific Asset being Financed
Contact InformationHamilton County Business Center
Address: 1776 Mentor Avenue
City: Cincinnati
State: Ohio
Website:
http://www.hcdc.com
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