Revolving Loan Fund

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The Revolving Loan Fund (RLF) offers loans to businesses in the Buckeye Hills region. Such funds are used in the event that full financing cannot be obtained from a bank, or as gap financing between a bank loan and the financing necessary to complete a proposed business project. All projects require bank participation. The RLF does not provide 100% financing for any project.

Eligible Applicants:

Existing or new for profit business, partnership, cooperative or corporation engaged in manufacturing, service or retail activities, that will be or is presently located within the Buckeye Hills‐Hocking Valley Regional Development District. The District includes Athens, Hocking, Meigs, Monroe, Morgan, Noble, Perry and Washington Counties.

One full‐time job equivalent (40 hours per week) must be created or retained for every $25,000 of Revolving Loan Fund financing requested.

Eligible Activities:

Acquisition and improvement of land and buildings, construction, machinery and equipment, working capital, and start‐up capital.

Interest Rates:

Interest rates are calculated on the individual risk of each proposed project.

Terms:

Useful life of machinery and equipment (typically 5‐7 years). Up to 12 years for real estate, and 3‐5 years for working capital.

Maximum Program Participation:

50% of total project cost up to $150,000.

Equity Requirements (Owners Cash):

5% of the total project cost.

Related Fees:

$100 Loan Origination Fee (due at application), $250 Loan Processing Fee (due at loan closing), servicing fee equal to 1% of the RLF participation, attorney fees, and closing costs.

For more information about the Revolving Loan Fund, please contact Bret Allphin

This institution is an equal opportunity provider, employer, and lender.

NameYearFile
RLF Application2016PDF
Program Brochure2014PDF