Revolving Loan Fund opportunity available

Seneca Regional CommissionThe Seneca Regional Planning Commission is offering a Revolving Loan Fund & Economic Development Program for 2016.

The Revolving Loan Fund provides funds to units of local government to provide gap financing for local business development. The goal of the program is to create and retain permanent, private sector job opportunities, principally for low- and moderate-income persons, through the expansion and retention of business and industry in Seneca County.

The RLF is intended to be a tender of last resort. Other sources, such as private lenders, should be consulted first. Also, be prepared for loan application, review, and processing to take two or three months or more. This is unavoidable in most cases, due to environmental review procedures, which require public comment periods, and due to additional required procedures, including a meeting of the RLF Administrative Board, subsequent review by the Ohio Development Services Agency, and Seneca County Commissioners’ approval. It is best to maintain close contact with the RLF Administrator during the application and review process.

Program guidelines and application can be found online. If you have any questions, contact Tanya Hemmer at 419.447.4550 ext. 101.

Hannah Taulbee – Heidelberg Student and SIEDC Intern

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