OVRDC Revolving Loan Fund (RLF)
OVRDC offers assistance to businesses looking to expand or start up in our region through our gap funding program. If your business meets the following criteria, we may be able to help with low interest financing:
- You own a private-for-profit business in Adams, Brown, Clermont, Fayette, Gallia, Highland, Jackson, Lawrence, Pike, Ross, Scioto, or Vinton County or plan to start a new one
- Your project would create or retain jobs
- You have a bank or private lending company loan approval but they are not willing to do the entire project and you must find GAP financing.
If your project meets these requirements, call us to discuss this opportunity in detail at (740) 947-2853.
RLF Plan Highlights
- $300,000 maximum loan size
- 10% Owner Equity required
- Eligible uses: fixed asset loans, working capital loans
- Term: Fixed asset loans 5 to 20 years; working capital loans 3 to 5 years
- Interest: Fixed rate for term of loan, rate varies
- $500.00 non-refundable application fee
- Jobs/Investment: One created or retained Full Time Equivalent job/per $35,000 loan amount requested.