• Feb 11, 22
• spencergregory
• Revolving Loan Fund Directory
• 0 comment

The EDA Revolving Loan Fund is available to any new or existing business engaged in a manufacturing, retail or service enterprise.

BUSINESS LOCATION: The business could be eligible for funding if it is located in the following areas.

Monroe County, Noble County, Meigs County, Washington County, City of Marietta or the Village of Crooksville in Perry County.

APPROVED USE: Funds may be used for the acquisition and improvement of land, buildings, plant facilities and equipment.

New construction or renovation of existing facilities, modernization, demolition and site preparation and / or working capitol.

MAXIMUM LOAN: Loans of $60,000.00 can be made with significant job creation or retention, one (1) job for ever 25,000. Loans can be made up to 30% of the project coSt. LOAN TERM: The Revolving Loan Fund program financing will not be offered for a term longer than the life of the asset financed.

A standard term for financing will be seven (7) to ten (10) years.

This term will however vary dependent on the life of the assets involved and the financing needs of the business/industry for the project.

A business/industry may be offered a term up to twenty (20) years for real estate and up to fifteen (15) years for machinery and equipment with the maximum term not to exceed the life of the asset.

INTEREST RATES: Interest rates are determined on a case-by-case basis with a minimum interest rate of 4%.

All projects are rated dependent on risk.

Rates are fixed for the term of the loan.

Each loan will be secured by appropriate collateral, mortgages or liens in addition to a promissory note.

EQUITY REQUIREMENTS: New and existing business owners will be required to invest up to 20% of the total project costs



Contact Information
Buckeye Hills-Hocking Valley Regional Development District
Address: 1400 Pike St
City: Marietta
State: Ohio

Website: http://buckeyehills.org/development/revolving-loan-fund/

• Share :