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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

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The Northwest OhioManufacturing Forum


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

Completed 56

$202 million+

$7 million maximum

BBB interest rates


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

Infrastructure projects;

Tax Increment Projects (TIFs)

Special Assessment Projects

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

Governmental borrowers


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

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

  • 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


Nagle Trucking


Stand-Alone Bonds

Completed 41

$850 million

No maximum dollar limit

Anywhere in Ohio


Owens Corning


Crocker Park


Dana Technology Center


Levis Commons


General Motors


U.S. SBA 504 Loan Program

Completed 106

$39 million

Fixed Assets only


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 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 Program

Normal Maximum

$5 million

Manufacturing

$5.5 million


U.S. SBA 504 Loans

Restaurants

Hotels

Convenience Stores

Realtors

Marina

Bowling Alley

Movie Theater


U.S. SBA 504 Loan Program

10-year interest rate – 3.69%

20-year interest rate – 4.52%


Allshred


PizzaPapalis of Toledo


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 Program

Fixed Interest Rate

Term up to 15-years

Currently: 3.5%


DMC Technology, Inc.


Bollin Label


Bottom LineCall the Port Authority!

Lisa Wagner

Director of Financing Programs

Laurie Cantrell

Loan Program Manager

419.243.8251


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