Eligible Businesses: Manufacturing Industrial Service Commercial Wholesale Retail Other businesses that may help a community improve its development potential Ineligible Businesses: Not-for-profit organizations Other restrictions according to funding guidelines Eligible Uses: Acquisition and/or renovation of land and building New facility construction Purchase of machinery and equipment Purchase of inventory and supplies Purchase of furniture and fixtures Site preparation and construction costs Working capital Ineligible Uses: Refinancing or consolidation of existing debt Training costs Expenditures prior to loan approval Residential building construction or reconstruction Speculative activities, projects or buildings Financing of a project that involves the relocation of an industry or business from one area of the State of Ohio to another (without approval from the State of Ohio) Project that violates EPA regulations Lines of credit Interest Rates: The interest rate for each particular applicant will depend on the company's financial condition and its ability to service the debt. Interest rates are fixed and generally range from 6% to 8%. Terms: The terms of the loan are flexible, but will not be more than the useful life of the asset being pledged for security (collateral). Collateral: The Scioto County RLF will seek to have the best collateral position possible to ensure that the RLF loans are adequately secured. The RLF is generally willing to take a subordinate position if it is justified in the loan proposal. Economic Development | Info & Statistics | Events & Attractions Our County & Communities | News | Contacts | Home Free JavaScripts provided by The JavaScript Source © 1998-02 Scioto County Government. All rights reserved.