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The Northwest Ohio Manufacturing Forum

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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  1. The Northwest OhioManufacturing Forum

  2. 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

  3. Fixed Interest Rate Bond Program Completed 56 $202 million+ $7 million maximum BBB interest rates

  4. 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

  5. Eligible Borrowers Infrastructure projects; Tax Increment Projects (TIFs) Special Assessment Projects Non-profit or 501c(3) entities; and Governmental borrowers

  6. Eligible Projects Renovation & acquisition of existing buildings Construction of new buildings Acquisition of land Non-specialized equipment; and Financing and other soft costs

  7. 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

  8. 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.

  9. Woodsage

  10. Nagle Trucking

  11. Stand-Alone Bonds Completed 41 $850 million No maximum dollar limit Anywhere in Ohio

  12. Owens Corning

  13. Crocker Park

  14. Dana Technology Center

  15. Levis Commons

  16. General Motors

  17. U.S. SBA 504 Loan Program Completed 106 $39 million Fixed Assets only

  18. 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

  19. 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

  20. U.S. SBA 504 Loan Program Normal Maximum $5 million Manufacturing $5.5 million

  21. U.S. SBA 504 Loans Restaurants Hotels Convenience Stores Realtors Marina Bowling Alley Movie Theater

  22. U.S. SBA 504 Loan Program 10-year interest rate – 3.69% 20-year interest rate – 4.52%

  23. Allshred

  24. PizzaPapalis of Toledo

  25. 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

  26. Ohio 166 Regional Loan Program Fixed Interest Rate Term up to 15-years Currently: 3.5%

  27. DMC Technology, Inc.

  28. Bollin Label

  29. Bottom Line Call the Port Authority! Lisa Wagner Director of Financing Programs Laurie Cantrell Loan Program Manager 419.243.8251

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