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Incentive Programs

Paulding County Revolving Loan Fund The Paulding County Economic Development Office can also assist in securing gap funding for land and building acquisition, construction, equipment and working capital needs based on job retention and creation commitments. Project cannot begin until approved. Variable loan terms depending on need. Business must be located in Paulding County. BetterBuildings Loan Fund BetterBuildings offers financing for projects that focus on conserving energy and generating savings through equipment retrofits to existing facilities. The goal is to make cost-effective energy practices and technology more accessible to individuals, businesses and governmental entities across Northwest Ohio while also helping transform the way whole communities use energy. U.S. Small Business Administration 504 Loan Program This program provides long-term, fixed-rate financing to acquire major fixed assets such as land and building acquisition; building improvements including grading, street improvements, utilities, parking lots and landscaping; construction of new facilities or modernization, renovation or conversion; and the purchase of long-term machinery and equipment. At least 10 percent equity from the small business borrower is required. GrowNow Program provides a 3% interest-rate reduction on new or existing small business loans when the small business can commit to creating or retaining jobs in the State of Ohio. Available through the State Treasurer of Ohio and participating commercial lending institutions; formerly known as the Linked Deposit Program. State of Ohio 166 Direct Loan Program Long term fixed rate low-interest loans up to 40% not to exceed $1.5 million for land and building acquisition, construction, expansion, or renovation, and equipment purchases for eligible businesses. Term based on useful life of the assets being financed and up to 15 years for real estate. State of Ohio 166 Regional Loan Program Long term fixed rate 3% interest loan up to 75% not to exceed $500,000 for land and building acquisition, building construction/renovations, leasehold improvements, machinery & equipment. Term based on useful life of the assets being financed and up to 15 years for real estate. Innovation Ohio Loan Fund Loans for acquisition, construction, and related capital costs of technology, facilities, and equipment purchases. Fund created to assist existing Ohio companies in development next-generation products and services within the state’s Industry Sectors up to 75% ranging from $500,000 to $1.5 million. Ohio Enterprise Bond Fund Provides revenue bond financing through an S&P rated fund, whereby proceeds from the sale of bonds are loaned to companies for fixed-rate, long-term capital asset financing. Rates are market-driven and fixed prior to funding. Loan terms range between 7 to 10 years for equipment and 15 to 20 years for real estate. Up to 90% financing of eligible costs from $2,000,000 to $10,000,000. Stand Alone Bond Financing Variable rate bond financing based on the credit of the borrower or other credit enhancement. No maximum limit on size of project.
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INCENTIVE PROGRAMS