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Program Details
 
 

Community Loan Fund

Category: Community Development

Overview


The Community Loan Fund provides loans for facility improvements, which includes but is not limited to: the development and rehabilitation of infrastructure (water, wastewater, and storm water), parks, buildings, etc. The goal is to stimulate and sustain community development and increase access to capital for low income areas. The intent of the fund is to provide gap financing after other available sources are researched and/or obtained or to finance projects that require a smaller amount of capital.

Benefits


  • Technical Assistance (at no cost) is available in preparing the application
  • Provides financing to meet community facility needs

Uses include: design, planning, equipment, construction, and working capital

  • Planning/Design loans—4% for up to 5 years
  • Construction/Equipment loans—4% for up to 10 years
  • 1% origination fee
  • No prepayment penalties


Eligibility Requirements


  • Ohio - statewide.
  • Infrastructure loans available to Public Organizations, Public & Private Non-profits, and Private for profits are eligible
  • Service area population must be 25,000 or less
  • Collateral is required and is determined on a case by case basis


Eligible Counties


All Ohio counties


Contact Information


Kristin Woodall (Community Development Assistant Director)
Brady Building
219 South Front St.
Fremont, OH 43420
(419) 334-8911
1-800-775-9767
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