Other Lending Criteria: Typically, 5% to 10% of the total project costs must be furnished by the applicant company as equity injection. Additional equity may be required for a business start-up or special purpose project. Activities financed with the RFL must be located within Scioto County. At least one permanent full-time equivalent position must be created or retained for every $15,000 of RLF funds loaned. Job creation must take place within 18 months of the project completion. No more than 50% of the total project may be financed with Scioto County Funds. Personal guarantees are required of principal owners, defined as persons owning 20% or more of the company. All applicants must demonstrate through their financial projections, that the cash flow of the business is sufficient to cover the proposed debt service. At least 51% of all jobs being created or retained must be taken by or made available to persons from low to moderate income households. An environmental review is required for each project and is the financial obligation of the applicant. Where assistance is provided for construction, the project must meet the Davis-Bacon prevailing wage requirements. No applicant will be denied a loan on the basis of race, color, creed, national origin, religion, sex, handicap, age (applicants must be over the age of 18), family or marital status. 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.