posted by admin on Jul 12
job creation commitments, timely loan repayments, commitment to R&D activities, etc. will be eligible for dollarfordollar credit against their Ohio tax liability, equal to the amount of principal and interest repaid on the loan. Rates TermsUp to 30 of total eligible fixed 350,000 1 million Twothirds of prime fixed rate for 515 years Equity minimum 10In distressed areas of the state, preferential rates and terms are available State Development Director authorize higher loan amount or modified rate and terms that address unique and demonstrated economic development need.
The R&D Fund provides assistance in the form of lowinterest loan, partnered with tax credit. Rate TermsThe maximum loan available is the lesser of 1 million dollars or 75 of total project costs. The maximum loan term available is years. During the first five years of the loan, the annual interest rate will be set at rate no greater than percent of the prime rate which shall be determined solely by the Director of the ODOD. Payment of the loan principal be deferred until revenues are generated from the project, up to maximum of five years.
Contact Phone NumberOffice of Financial Incentives614 4665420 or 800 8481300 Program Guidelines Click Here PDF Back to Top Urban Redevelopment LoanRemoves development barriers from urban core property so that private sector job opportunities can be created
BenefitsAvailability of newly constructed buildings and completed infrastructureto encourage business expansion in rural Ohio EligibilityNonprofit organizations that promote economic development in rural areas Local governmental units are eligible to apply for the financing of offsite public infrastructure improvements water, sewer, roads, etc.. Benefits Incentivizes Ohio companies to make new investments in Research and Development activities. Rates TermsWhile loan terms will be individually negotiated, interest rates will be prime as of proposal submission deadline 2 and the loan term will be in the range of 47 years.
Rate TermsUp to 40 of total eligible fixed 350,000 maximum Rate negotiable for 515 years Equity minimum 10 State Controlling
Benefits Rate, Term, and Availablility EligibilityMust show repayment and management capabilitiesMust create or retain job for every 35,000 received Ohio prevailing wage rate applies. Contact Phone NumberOffice of Financial Incentives 614 4665420 or 800 8481300. Rate TermsUp to 40 of total eligible fixed 350,000 maximum Rate negotiable for 515 years Equity minimum 10 State Controlling Board approval required. job creation commitments, timely loan repayments, commitment to R&D activities, etc. will be eligible for dollarfordollar credit against their Ohio tax liability, equal to the amount of principal and interest repaid on the loan.No tags for this post.