Business Development Grant & Loan Programs

Information about these programs is provided by the Ohio Department of Development.
 
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Research & Development Investment Loan Fund
Research & Development Investment Loan Fund provides loan financing of between $1 million and $5 million for projects primarily engaging in research and development activity. Rates are fixed (at or below market rates) with terms similar to those of commercial bank financing. Companies receive a dollar-for-dollar, non-refundable Ohio commercial activity tax credit for all principal and interest payments during the year. Guidelines of this fund are available via PDF.


Ohio Enterprise Bond Fund
Ohio Enterprise Bond Fund provides revenue bond financing through this S&P AA- (double A-minus) rated fund, whereby proceeds from the sale of bonds is loaned to companies for fixed rate, long-term capital asset financing. Rates are fixed depending on the type of bond issued, with terms between seven to ten years for equipment and 15 to 20 years for real estate. Up to $10 million in financing is available through this program. Guidelines of this program are available via PDF.


Rural Industrial Park Loan
Rural Industrial Park Loan provides direct loans to rural, distressed local communities and applicants committed to creating well-planned industrial parks. The Rural Industrial Park Loan program was created to provide direct loans to local communities and applicants committed to creating well-planned industrial parks. Information about this program can be found by viewing the PDF.

Innovation Ohio Loan Fund
Rural Industrial Park Loan provides direct loans to rural, distressed local communities and applicants committed to creating well-planned industrial parks. The Rural Industrial Park Loan program was created to provide direct loans to local communities and applicants committed to creating well-planned industrial parks. For more information about this loan, visit the Ohio Department of Development website.

Columbia Gas of Ohio Jobs Growth Fund
The Columbia Gas of Ohio (COH) Jobs Growth Fund program is a $1.55 million grant program. The funds provide financial assistance to new and existing companies that create new jobs within COH’s service territory.  The grant awards range from $50,000 - $250,000.   COH will fund approximately 2 to 4 industry and regionally diverse projects per year.  The funds will be awarded through April 2012 or until funds are exhausted. To learn more information about this program, please view the PDF.

SBA 504 Loan Refinancing For Eligible Small Business Assets Under the Jobs Act
Under the Small Business Job Act, the SBA will implement a temporary program-authorized until Sept. 27, 2012-allowing small businesses to refinance eligible fixed assets in its 504 program without requirement of an expansion, as is the case with typical 504 loans.  This program will provide small businesses the opportunity to lock in long-term, stable financing, as well as protect jobs.  For more information about this loan, please view the PDF.

Other Loan Programs

166 Direct Loan Program.pdf  
DOE Federal Loan Guarantees.pdf


Grants

Rural Energy for America Program (REAP)
 
Rural Development is currently accepting applications for the Fiscal Year 2011 Rural Energy for  America Program. This program is designed to provide grants and loan guarantees to farmers and rural small for-profit businesses who wish to install energy efficiency improvements or to install renewable energy systems. Renewable energy systems can include solar electric, solar thermal, wind, geothermal, biomass and anaerobic digestion systems.  Energy efficiency improvement systems can include lighting improvements, insulation, electric motor replacements and other energy efficiency improvement projects as outlined in the energy audit.  If you would like to read the rest of this article, visit the PDF.
 
 
If you are interested in pursuing a grant or loan guarantee for the Rural Energy for America Program, please submit an application to the address listed below at your earliest opportunity. Grant requests received early in the fiscal year have generally fared better than other applications.
www.rurdev.usda.gov/or/reap.htm
 
Industrial Site Improvement Fund
Industrial Site Improvement Fund assists geographically and/or economically disadvantaged counties around Ohio in the expansion and modernization of buildings, remediation of environmentally contaminated property, and completion of other infrastructure improvements at sites used primarily for commercial or industrial activities. For more information about this program visit the Ohio Department of Development website.

Ohio Job Ready Sites Program
Ohio Job Ready Sites Program was created to bolster our state’s inventory of available facility locations served by utility and transportation infrastructure. Sites improved under the program are kept at and ready for future business prospects seeking locations for new or expanded operations. The State of Ohio will sell $150 million in bonds during a seven-year period to fund the availability of Job Ready Sites Program grant awards. The grants may be used to offset costs traditionally incurred in industrial and commercial site development, from acquisition of real property to utility upgrades to construction build-out of speculative facilities. For more information about this program visit the Ohio Deparment of Development website.  

Ohio Advanced Energy Fund
The Ohio Energy Office administers the Ohio Advanced Energy Fund to connect companies and communities with financial and technical resources to deploy energy efficiency and renewable energy technologies, and to support advanced energy economic development. For more information about this program visit the Ohio Deparment of Development website.

Alternative Fuel Transportation Grant
The Alternative Fuel Transportation Grant improves air quality through grants to businesses, nonprofit organizations, school systems or local governments for the purchase and installation of alternative fuel refueling, blending, or distribution facilities and terminals. Current incentives are focused on retail fuel distributors and school systems. For the guidelines of this program please view the PDF.

Rapid Outreach
Rapid Outreach funds are used for on- or off-site infrastructure improvements, including water, sewer, road, and rail improvements. These funds are given to companies primarily engaged in manufacturing, research and development, high technology, corporate headquarters, and distribution. Given the demand for limited grant funds, qualified projects must involve substantial job creation or retention, and all other public and private sources of financing must be considered before the availability of Rapid Outreach funding is determined. For more information about this program visit the Ohio Deparment of Development website.

Ohio Third Frontier
Ohio Third Frontier is a $1.6 billion initiative to expand Ohio’s high-tech research capabilities and promote innovation and company formation, which in turn will create high-paying jobs for generations to come. For more information on the programs offered by Ohio Third Frontier visit the Ohio Department of Development website.

Ohio’s Thomas Edison Program
Ohio’s Thomas Edison Program fosters the advancement of applied research and development with the long-term objective of increasing the competitiveness of existing Ohio companies and encouraging the start-up of new Ohio firms on the leading edge of technology. For information about the possiblities available through this program visit the Ohio Department of Development website.

Ohio Venture Capital Authority
Ohio Venture Capital Authority seeks to drive entrepreneurial growth, job creation, and economic prosperity in Ohio by creating a “fund of funds” portfolio of seed and early stage capital investments. The Ohio Venture Capital Authority includes 17 funds resulting in almost $100 million in investments to Ohio companies. For more information about this program visit the Ohio Deparment of Development website.

Other Grant Programs
National Science Foundation Phase 2.pdf
Dept of Energy SBIR Phase 2.pdf
3rd Frontier Fuel Cell Program 2009.pdf
Dept of Energy SBIR Phase 1.pdf
National Science Foundation Phase 1.pdf
ODOD - Manufacturing Energy Efficiency Incentives.pdf
ODOD Renewable Energy Program.pdf
ODOD Distributed Energy Resources.pdf
3rd Frontier Advanced Energy Program 2009.pdf
 
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