Areas Served: Hardin County
The Revolving Loan Fund is Designed to encourage new start up business, and to assist those who are expanding, the Revolving Loan Fund allows a business to receive a portion of their project funding in the form of a low interest loan.
In conjunction with a financial institution, the amount of the RLF loan is based upon how many new jobs the project will bring into Hardin County.
The Hardin County Downtown Building Improvement Loan Program is designed to encourage and facilitate development in the downtown areas of Hardin County’s villages and the City of Kenton.
This purpose will be accomplished by providing easy to access, low cost loan funds to qualified property owners or business tenants who wish to make investments in the structure/appearance of buildings/properties they own or occupy.
The ultimate goal is to stimulate property owner interest, inward business migration, storefront appearance enhancement, and overall economic growth for Hardin County.
Participating financial institutions include Community First Bank, First Citizens National Bank, Hardin Community Federal Credit Union, Home Savings & Loan Co.
, Huntington Bank, and Liberty National Bank.
Details of the program include:
¢ Loans are available for downtown building owners who would like to improve the structure/appearance of their buildings.
¢ Minimum loan amount is $2,500 with the maximum loan of $25,000 per borrower.
¢ Loan rate is fixed for the term of the loan.
Loan rate will be based on Prime Rate with a floor of 5%.
¢ Loan payments will be made monthly for 60 months.
¢ There will be only one loan, at any specific time, per building.
¢ Loan requirements for collateral and personal signatures/guarantees will be determined by consent of the approval of the Loan Review Committee.
Contact InformationHardin County Economic Development Division
Address: 225 S. Detroit St.
City: Kenton
State: Ohio
Website:
http://www.hardinohio.org/new/EconomicDevelopmentIncentives.aspx
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