INCENTIVE DESCRIPTION

State: OH
Incentive Type: Cash Grants and Financing Incentives
Incentive Title: Direct Loans
Description: 1. OHIO ENTERPRISE BOND FUND: Provides funding for land and building acquisition, construction, expansion or renovation, and equipment purchases for commercial or industrial projects between $1.5 million and $10 million in size. The rate/terms are: Long-term, fixed rate for up to 20 years; Interest rate based on Standard & Poor's A-minus rating, for up to 90% of total project amount. The benefits are: Long-term, fixed rate for up to 90% of total project costs; Access to national capital markets for unrated companies; May not require third-party credit enhancement. 2. 166 DIRECT LOAN: Provides loans for land and building acquisition, expansion or renovation, and equipment purchase. The rate/terms are: Up to 30% of total eligible fixed cost ($350,000 - $1 million); Two-thirds of prime fixed rate for 5-15 years; Equity minimum 10%; In distressed areas of the state, preferential rates and terms are available; State Development Director may authorize a higher loan amount or modified rate and terms that address a unique and demonstrated economic development need. The benefits are: Rate, term and availability.
Eligibility Requirements: 1. Must show repayment and management capabilities; Must be able to document job creation or retention; Ohio prevailing wage rate applies 2. Must show repayment and management capabilities; Must create or retain 1 job for every $15,000 received or $35,000 in Priority Investment Areas; Ohio prevailing wage rate applies
Geographic Restrictions: Statewide
Granting Authority: Ohio Department of Development


The information which you have reviewed is a summary of the benefits and savings which may be available for your company. To receive a more detailed analysis of valuable opportunities for your company, please forward your contact information to Larry Kramer at lkramer@incentisgroup.com

Impotant Legal Information
Information is provided in summary form and should not be considered legal, investing, or other business advice. Its receipt does not create a relationship between Incentis Group and recipient. All information is believed to be accurate at the time of printing but should not be relied upon, and no decisions should be made, without consulting the full text of the applicable statutes and seeking independent counsel. Incentis Group and FastFacility make no representation as to the eligibility of a company or person to receive any incentives.