The northwest ohio manufacturing forum
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The Northwest Ohio Manufacturing Forum. Four Financing Programs and Projects. Fixed Interest Rate Bond Program Stand-Alone Bonds U.S. SBA 504 Loan Program Ohio 166 Regional Loan Program 305 projects $1,108,447,464 direct financing Nearly 16,000 jobs created and/or retained.

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The northwest ohio manufacturing forum

The Northwest OhioManufacturing Forum


Four financing programs and projects

Four Financing Programsand Projects

Fixed Interest Rate Bond Program

Stand-Alone Bonds

U.S. SBA 504 Loan Program

Ohio 166 Regional Loan Program

305 projects

$1,108,447,464 direct financing

Nearly 16,000 jobs created and/or retained


Fixed interest rate bond program

Fixed Interest Rate Bond Program

Completed 56

$202 million+

$7 million maximum

BBB interest rates


Purpose of the program

Purpose of the Program

Provide access to investment grade financing for small to mid-size companies

Make long-term fixed rates available

Create jobs and investment in community


Eligible borrowers

Eligible Borrowers

Infrastructure projects;

Tax Increment Projects (TIFs)

Special Assessment Projects

Non-profit or 501c(3) entities; and

Governmental borrowers


Eligible projects

Eligible Projects

Renovation & acquisition of existing buildings

Construction of new buildings

Acquisition of land

Non-specialized equipment; and

Financing and other soft costs


Program benefits and financing terms

Program Benefits and Financing Terms

Fixed rate (Up to 30 years for governmental, infrastructure or non-profit borrowers; 20 years for industrial and commercial loans)

Construction and permanent financing

Close within 60-90 days

Requires prevailing wages for construction projects


Partnerships

Partnerships

  • The Port Authority has partnered with the OMA, First Energy, the Port of Cleveland and the Summit County Port Authority in order to help finance manufacturers.


Woodsage

Woodsage


Nagle trucking

Nagle Trucking


Stand alone bonds

Stand-Alone Bonds

Completed 41

$850 million

No maximum dollar limit

Anywhere in Ohio


Owens corning

Owens Corning


Crocker park

Crocker Park


Dana technology center

Dana Technology Center


Levis commons

Levis Commons


General motors

General Motors


U s sba 504 loan program

U.S. SBA 504 Loan Program

Completed 106

$39 million

Fixed Assets only


U s sba 504 loan program1

U.S. SBA 504 Loan Program

Typical Structure:

50% bank or non-bank

40% SBA – 2nd position

10% equity

1 job created/retained for every $65,000 borrowed


U s sba 504 loan program2

U.S. SBA 504 Loan Program

“Small” Business

500 employees or less

Less than $15 million tangible net worth

Less than $3 million average net income over last 2 years


U s sba 504 loan program3

U.S. SBA 504 Loan Program

Normal Maximum

$5 million

Manufacturing

$5.5 million


U s sba 504 loans

U.S. SBA 504 Loans

Restaurants

Hotels

Convenience Stores

Realtors

Marina

Bowling Alley

Movie Theater


U s sba 504 loan program4

U.S. SBA 504 Loan Program

10-year interest rate – 3.69%

20-year interest rate – 4.52%


Allshred

Allshred


Pizzapapalis of toledo

PizzaPapalis of Toledo


Ohio 166 regional loan program

Ohio 166 Regional Loan Program

Completed 102

$17 million

Fixed Assets Only

Up to 40% of project costs

Maximum of $500,000

1job retained/created for every $50,000


Ohio 166 regional loan program1

Ohio 166 Regional Loan Program

Fixed Interest Rate

Term up to 15-years

Currently: 3.5%


Dmc technology inc

DMC Technology, Inc.


Bollin label

Bollin Label


Bottom line call the port authority

Bottom LineCall the Port Authority!

Lisa Wagner

Director of Financing Programs

Laurie Cantrell

Loan Program Manager

419.243.8251


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