Loan Programs

SBA 504

The U.S. Small Business Administration 504 Loan (SBA 504) provides long-term, fixed-rate financing for fixed assets such as real estate purchases, construction/improvements, and non-rolling stock equipment. The program will support most for-profit businesses that demonstrate the project will create and/or retain jobs. This program can also finance start-ups and incorporate refinancing. Benefits include:

• Maximum loan of $5 million or up to $5.5 million for manufacturers
• Terms of either 10, 20, or 25 years

Current fixed interest rate of less than 6.5% (this will fluctuate and should be determined in real-time)

Ohio 166

The Ohio Regional 166 Loan (Ohio 166) provides low, fixed-rate financing for fixed assets such as real estate purchases, construction/improvements, and non-rolling stock equipment. The program primarily supports projects for for-profit manufacturing, distribution, and wholesaling businesses. A typical transaction consists of 50% bank financing, 40% Ohio 166 Loan, and 10% owner's equity. Benefits include:

• Maximum loan of $1 million
• Loan terms to not exceed 20 years
• Current fixed interest rate of less than 4.0% (this will fluctuate and should be determined in real-time)