Small business loans available at CountyCorp


CountyCorp Development’s small business lending program, BizCap, has financing available for companies needing capital to invest in real estate and equipment to retain or grow jobs.

“It comes down to whether a business feels comfortable pulling that trigger on investment,” CountyCorp President Steve Naas said. “We have the ability to help.”

CountyCorp is a private, non-profit development corporation providing housing and economic development programs. Naas said CountyCorp’s average small business loan is $500,000. A small business may have up to 500 employees.

“Banks are limited to lending 75 to 80 percent of a project’s cost. The amount of cash a business has in pocket is limited,” Naas said. “Small businesses are able to finance a larger portion of their project cost by working with us.”

A typical financing structure includes 50 percent from a private lender, a 40 percent BizCap loan and 10 percent investment by the small business, Naas said.

BizCap offers three financing options:

  • Small Business Administration 504 loans — available to Ohio businesses — may be used to purchase land, buildings, machinery and equipment, or fund new construction. The maximum loan is $5 million or up to $5.5 million for manufacturers. In most cases, one job must be created within two years for every $65,000 loaned.
  • State of Ohio 166 loans — available to Ohio and eastern Indiana businesses — help small, growing manufacturing and distribution companies finance up to $500,000 for land, buildings and equipment. One job must be created within three years for every $50,000 borrowed.
  • The Community Development Block Grant revolving loan fund offers real estate, equipment and in some cases working capital funding for smaller businesses. Businesses in Montgomery County, but outside the city of Dayton, may apply. The maximum loan is $100,000. One job must be created within three years for every $35,000 loaned.

“By bringing us in as a partner, a small business is able to reduce its interest costs overall,” Naas said. “We’re at all time low interest rates for all of our programs.”

When Tony Fairchild, president of Adapt-A-Pak, Inc., in Bethel Twp., decided to expand his corrugated packaging business to a second location, his banker suggested he contact CountyCorp. A $337,000 state of Ohio 166 loan through BizCap enabled him to open a reusable packaging manufacturing operation in New Carlisle.

“I got a fixed rate loan with a lower interest rate than I could get from the bank,” Fairchild said. “I would have done it one way or another. CountyCorp helped out from a long-term cost standpoint.”

To learn more about BizCap, contact CountyCorp’s business loan officers Scott Woods at 937-531-7034, or Gary Fischer, 937-531-7038.



Reader Comments ...


Next Up in Business

Unemployment rates worsen in Clark, Champaign counties
Unemployment rates worsen in Clark, Champaign counties

Unemployment rates crept up in Clark and Champaign counties in July, according to information released Tuesday from the Ohio Department of Job and Family Services. MORE: Imaging center closes in Springfield Clark County’s unemployment rate was 5.7 percent in July, up from 5.2 percent the previous month. The county’s unemployment...
New local pollution fee could make local manufacturing more expensive
New local pollution fee could make local manufacturing more expensive

A proposal that could increase air pollution control fees paid by more than 600 companies in the region by several thousands of dollars is gaining opposition by business owners. Public Health — Dayton and Montgomery County is considering the new fees for local manufacturers and utilities its Regional Air Pollution Control Agency oversee in six...
Miamisburg company creates technology to enhance college recruitment
Miamisburg company creates technology to enhance college recruitment

Miamisburg company Think Patented is expanding to add a new division focused on the higher education marketplace. The graphic communication and printing company has established a new division called Quanta, which will be an automated communications platform developed for admissions recruitment and alumni fundraising and event promotion. Quanta&rsquo...
5 things you need to know about Walmart’s new partnership with Uber
5 things you need to know about Walmart’s new partnership with Uber

Walmart and ride-sharing powerhouse Uber are teaming up to bring customers a new kind of grocery home delivery service. Walmart began testing grocery delivery through crowd-sourced services like Uber last year. Now, the chain retailer is expanding its grocery delivery pilot in two more markets — Orlando, Fla. and Dallas, Texas. Here’s what...
Regulators weigh new air pollution fees for Dayton-area companies
Regulators weigh new air pollution fees for Dayton-area companies

Public health and clean-air regulars are considering new fees for local manufacturers and utilities they oversee. One proposed fee would impose up to a total of $27,250 in new annual charges to Dayton Power and Light, according to numbers provided by Public Health-Dayton and Montgomery County. This summer, the Public Health department began notifying...
More Stories