Village of Lockland Ohio
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Village of Lockland
101 North Cooper Ave.
Lockland, Ohio
45215
(513) 761-1124
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Federal, State, and Local Financing Programs

Financing Programs available to eligible companies expanding within or locating to Lockland:

   
 
Fixed Asset Financing  
Industrial Development Revenue Bonds Use of Funds: Land, Building, Machinery, and Equipment
Eligible Borrowers: Manufacturers
Maximum Loan: Up to 100% of project costs up to $10 million
Rate: Based on borrower's credit or bank letter of credit
Term: Up to 25 years
Bank Participation: Letter of credit may be required
Other Requirements: Must show repayment and management capabilities; must be able to document job creation or retention; Ohio prevailing wage rate applies
Issued by: Village of Lockland Community Improvement Corporation (513) 761-1124
   
 
SBA 504  
Use of Funds: Construction and the purchase of land, buildings, and capital equipment.
Eligible Borrowers: For profit corporations, partnerships and proprietorships. Businesses whose net worth does not exceed $7 million. Net after-tax profits must average less than $2.5 million during the previous two years.
Maximum Loan: $2 million
Minimum Loan: $50,000
Loan Term: 10 or 20 years
Rate: 5 or 10 year treasury bonds + 1.5% (including fees)
Bank Participation: 50% of project cost
Equity: 10% of project cost
Fees: $250 application; closing costs: $1,750-$7,000; financed fees.
   
 
Ohio 166 Regional Loan Program
Use of Funds: Construction and the purchase of land, buildings and capital equipment.
Eligible Borrowers: Manufacturers, distributors and other industrial businesses in the State of Ohio.
Maximum Loan: $350,000
Loan Term: Useful life of assets up to 15 years.
Rate: 2/3 of prime; fixed
Bank Participation: 50%
Equity At least 10% of project cost
Other Requirements: Prevailing wage applies
Administered by: Hamilton County Development Co., Inc.
(513- 631-8292)

 
   
   
 
 
 
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