OVRDC Revolving Loan Funds
OVRDC offers assistance to businesses looking to expand operations or start up in our region through our gap financing program. Gap financing is used when the amount the lender agrees to lend is less than the amount the borrower needs to complete the project. This is where the OVRDC Revolving Loan Fund can help. If you have a financing gap in your project and you qualify for our program, we may be able to help.
Gap funding is available from several federal programs, including Appalachian Regional Commission (ARC) and Economic Development Administration (EDA). 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, contact us to discuss this opportunity in detail.
In addition to the existing Revolving Loan Fund Programs available, the EDA CARES Act established another funding program, the Business Sustainability Loan Program for small businesses and sole proprietors to assist with day-to-day expenses and operating costs during the COVID pandemic. The funding for this program has been used up and is no longer available.