Representatives from the U.S. Small Business Administration Great Lakes Region and U.S. Department of Agriculture will co-host a free webinar about access to capital and resources for small businesses in rural Ohio 10-11 a.m. Friday, Oct. 16.
This event is a must for entrepreneurs and small business owners in the agriculture industry in search of information about SBA and USDA lending and small business growth programs.
The goal of this free event is to help improve access to capital for rural small businesses and increase investment opportunities in rural areas.
Robert Scott, SBA – Robert Scott serves as the Regional Administrator for SBA’s Great Lakes Region, overseeing the delivery of the agency’s financial assistance, technical assistance and government contracting activities throughout Illinois, Indiana, Michigan, Minnesota, Ohio and Wisconsin.
David L. Hall, State Director for USDA Ohio Rural Development – David L. Hall is the State Director for USDA Ohio Rural Development. Appointed by the Trump Administration in November 2017, Hall brings more than two decades of expertise to the position, with work encompassing private, quasi-governmental, and public-sector service.
Leonard Hubert, State Executive Director, USDA FSA – Leonard Hubert was appointed by the Trump Administration to serve as the state executive director of the Ohio USDA Farm Service Agency in November 2017. Before relocating to Ohio, Hubert spent 15 years working for the Commonwealth of Pennsylvania in the Bureau of Animal Industry, as chief of the Agriculture Marketing Service Division, and in the Pennsylvania Office of the Attorney General.
Additional presentations by:
Mark Van Hoose, FSA Ohio Farm Facility Loan Program
Randy Monhemius, USDA Ohio Business and Industry Program
Jerome Jones, SBA Columbus District Lender Relations Specialist
Rural Development can provide loan guarantees to expand business operations; purchase and improve real estate; purchase machinery & equipment; and refinance outstanding debt. The loan guarantee program is used to provide better rates and terms to the businesses while reducing lender risk. In addition to reducing lender risk, the issuance of the loan guarantee can generate additional fee income for the lender through the sale of the guaranteed portion on the secondary market. Additional information can be found at the following website:
New this year, and available for a limited time, is the B&I CARES Act program providing funds to help meet the working capital needs of rural businesses and agricultural producers. This program has the flexibility of offering up to 12 months of principal & interest deferment with an additional 24 months interest only if necessary. Reduced guarantee fees and increased loan guarantee percentages are available through the B&I CARES Act. Additional information regarding the B&I CARES Act can be found at the following website:
TIFFIN – Heidelberg University is proud to announce the United States Department of Agriculture (USDA) has awarded a $36.5 million low-interest Rural Development loan to support a variety of campus initiatives directed at improving the student experience. The loan is designed to refinance existing debt to better position Heidelberg for long-term economic expansion and improve student housing, student learning facilities and student recruitment operations. Construction will begin soon on the restoration and renovation of historic France Residence Hall to integrate a living and learning community for approximately 70 female students and faculty. Several classroom spaces will also be improved to support new and existing academic programs.
President Rob Huntington states the USDA award is critical for success, “This loan assists our effort to make Heidelberg more financially stable, address student learning needs and greatly enhance student living and engaging spaces.” He adds, “Nearly $20 million dollars will be invested to drive our Academic Strategic Plan, support a living and learning community and create a unique greeting for the Office of Admission that will set the tone for an exceptional and persuasive visit experience for prospective students and their families. We are tremendously grateful to all elected officials in the city of Tiffin and Seneca County who continue to help us process this USDA loan. The loan helps us to restructure our debt and to renovate living and learning spaces on campus to better position Heidelberg in the very competitive higher education marketplace.”
The addition and upgrades to over 300 residential units is a major element in Heidelberg’s Residential Living Plan Vision. Chris Abrams, Dean of Student Affairs, states, “New student townhouse apartments will offer housing options and lifestyle flexibility for upper-class students. The improvements to France Hall and Miller Hall will provide students with modern amenities to help integrate living and learning opportunities.”
The Student & Community Welcome Center will create a “front door” at the East Market Street entrance to the campus. This 10,000-square-foot, two-story facility will house the Office of Admission and become home for the new Town Gown Bookstore. As part of Heidelberg’s Strategic Action Plan, which focuses on transformation, improvement and growth, the University aspires to not only maintain the current undergraduate population but to grow beyond it. The new bookstore will be open and inviting to the entire Tiffin community. Simultaneously, Heidelberg will move the Owen Academic and Career Support Center to the location of the current bookstore to create a larger and more accessible space to support student success.
Kathy Geier, Heidelberg University’s Board Chair agrees, “As Heidelberg University continues to grow, this loan positions us to provide quality facilities and programs for students and faculty. Refinancing, with a better interest rate on our debt, will result in savings. President Huntington and his team did an outstanding job over the course of the last 18 months to secure this loan and Heidelberg’s future.”
Additionally, a new leadership and entrepreneurial center will be created. The new center will focus on area businesses, manufacturers, health care providers and their employees that want to advance to supervisory positions and need leadership training. The center will be the first of its kind for community colleges in Ohio and will possibly open early next year.
Other updates to the building will be the addition of charging stations and computers for internet/email access in the atrium, new furniture for all rooms and teleconferencing capabilities.
Terra State Community College is a two-year accredited, state-supported, commuter college located in Fremont, Ohio. Terra State has a long history of service to the community and providing students with an education that is both accessible and affordable. Terra State offers twenty-two Applied Degrees and Certificates to students.
More recent news about Terra State Community College campus, programs, and community partnerships:
The USDA is seeking new technology and/or creative product ideas from grass roots innovators! Got a great idea? The USDA may be interested in funding the research and development of your concept! Ohio State Extension is partnering with the USDA to promote the accessibility and availability of Small Business Innovation Research (SBIR) grants. OSU Extension will be offering two (2) workshops, one in Northeast Ohio (Lorain County Community College on June 19) and one in Southwest Ohio (OSU Lima Campus) to orient interested innovators, researchers, and practitioners to this grant opportunity and the grant application process. Registration is open!
OSU will support innovators with coaching and mentoring through the grant writing process. The USDA Request for Applications (RFA’s) are focused on select topic areas, so interested candidates are encouraged to visit the website (see below) to learn more. If selected for a Phase I USDA SBIR grant, the recipient will receive $100,000 to develop a concept – no strings attached except to report back the results of the research and development. If the initial phase is successful, additional funding (up to $600,000) is made available to complete the research and bring the solution to the market. This is not a loan. Innovators own the intellectual property they create and maintain the ownership of their company. Small businesses (between 1 and 500 employees), including small and mid-sized farms are eligible!
On Wednesday, August 10 from 9 am – 4 pm, leaders in engineering, manufacturing and technology are invited to attend “Partnering with Federal Labs,” a workshop sponsored by CIFT and MAGNET on behalf of the Ohio Manufacturing Extension Partnership (Ohio MEP). The workshop is designed to introduce business leaders to the Federal labs research centers that help push technology to the private marketplace. The meeting will highlight how federal agencies’ expertise and technologies can assist Ohio firms.
USDA-Agricultural Research Service has already formed over 120 formal partnerships this year with companies of all sizes for the development and commercialization of technologies. As of 2015, more than 800 businesses, universities, governments and non-profit groups partnered with either Oak Ridge National Lab or the National Renewable Energy Laboratory. Through 2016, the Department of Energy is providing up to $20 million in vouchers so that small businesses can request technical assistance from national labs to help bring the next generation of clean technologies to market.
The workshop is designed to introduce business leaders to the Federal labs research centers that help push technology to the private marketplace. The meeting will highlight how federal agencies’ expertise and technologies can assist Ohio firms. Speakers include representatives from:
Federal Lab Consortium (FLC)
The FLC is the formally chartered, nationwide network of more than 300 federal laboratories, agencies, and research centers that fosters commercialization best practice strategies and opportunities for accelerating federal technologies from out of the labs and into the marketplace.
NASA John H. Glenn Research Center drives research, technology, and systems to advance aviation, advance space missions and aeronautics by leveraging core competencies to deliver from concept through applications. Examples include air breathing propulsion, cryogenic fluids management, communications technology, energy storage and conversion, and materials for extreme environments.
U.S. Army Natick Soldier Systems Center
USDA – Agricultural Research Service (ARS)
The ARS conducts research to develop and transfer solutions to agricultural problems of high national priority and provide information access and dissemination. The ARS research agenda is broad, with about 750 research projects organized under four major program areas: Nutrition, Food Safety and Quality; Animal Production and Protection; Natural Resources and Sustainable Agricultural Systems; and Crop Production and Protection.
Department of Energy, ORNL & NREL
The Department of Energy (DOE) has aligned resources to invest in technology research and development, new innovation models, technical assistance, and the shared technical facilities that help transition scientific innovations into new manufacturing capabilities. The National Renewable Energy Laboratory and Oak Ridge National Laboratory have capabilities that include facilities and expertise in: solar, wind, water power, geothermal, bioenergy, buildings, fuel cells, batteries, vehicle technology, advanced manufacturing, and next generation materials.
National Institute of Standards and Technology (NIST)
The Department of Commerce, NIST, promotes U.S. innovation and industrial competitiveness by advancing measurement science, standards, and technology in ways that enhance economic security and improve our quality of life. Laboratory capabilities include facilities and expertise in: Bioscience and Health, Building/Fire Research, Physics, Electronics/Telecommunications, Energy, Environment/Climate, Information Technology/Cyber, Manufacturing, Materials Science, Quality/Transportation, and more.
For more information, contact CIFT at 419-535-6000 or email@example.com, or register here.
The US Department of Agriculture not only assists with loan and grant programs for businesses in rural communities, but also provides programs for home repair and ownership. Listed below are some of those programs:
Home Repair Loan Program provides up to $20,000 in loan financing to help very low income applicants in rural areas improve their living conditions and assist with needed home repairs. Terms include 1% interest and can extend up to 20 years. Loans less than $7,500 do not require a mortgage. Loans may be made for repairs to improve or modernize homes, or to remove health and safety hazards. The dwelling to be repaired must be located in a rural area eligible for Rural Development programs. Applicants must own and occupy the home to be repaired.
Home Repair Grant Program applicants must be at least 62 years of age and lack repayment ability for a 504 loan. Loan/grant combinations are possible when the applicant has repayment ability for a portion of the financial assistance needed. .There is a lifetime grant limit of $7,500. Grants must be used to correct health and safety conditions, not used to make cosmetic or convenience changes to the home.
Once your eligibility is confirmed and the application is complete, a representative from Rural Development will visit your property to further assess.
Home Ownership Direct Loans provide financing for individuals and families who cannot obtain credit from other sources to purchase homes in rural areas. All applicants must meet eligibility requirements. Applications are received at the Rural Development office serving the area where the house will be located. Funds may be used to purchase suitable existing homes, new site built homes, approved modular units, and new manufactured units from an approved dealer/contractor. Funds may also be used to repair or remodel homes, or to make the home accessible and usable for the disabled. Loans may be made for up to 100% of the appraised value of the site and the home. The maximum repayment period is 33 years. Based on household income, payment assistance can further reduce your mortgage payment.
For more information on any of the above programs, contact the Findlay Area Office at 419-422-0242 or SFHD.Findlay@oh.usda.gov or www.rd.usda.gov.
Guaranteed Rural Housing Program includes 100% financing, no downpayment, affordable mortgage insurance, 30 years fixed interest rate, flexible credit and qualifying guidelines, no maximum purchase price, and closing costs, legal fees, and other eligible costs may be rolled into the loan. Applicants must have a steady and dependable income, demonstrate a reliable credit history with the ability and willingness to repay debts when they are due, and meet Rural Development’s “Adjusted” income limits for the county in which they are purchasing.
The US Department of Agriculture offers many grant and loan programs for rural communities, like those in Seneca County. Listed below are several of those programs:
USDA Rural Energy for America Program (REAP) Grants are intended to promote energy efficiency and renewable energy development for rural small for-profit businesses and agricultural producers. The grant will not exceed 25% of the total eligible project costs. Priority consideration will be given for requests of less than $20,000. Combined guaranteed loan and grant packages cannot exceed 75% of the total project costs. Applications for 2016 will be considered bi-annually; submissions accepted year-round.
REAP Loan Guarantee applications will be received on a continuous cycle basis and funded on the first business day of each month.
For more information, contact Christie Hooks at 614-255-2397 or firstname.lastname@example.org
Rural Business Development Grants
USDA Rural Business Development Grants are competitive grants designed to support targeted technical assistance, training and other activities leading to the development or expansion of small and emerging private businesses in rural areas that have fewer than 50 employees and less than $1 million in gross revenues. Local governments and nonprofits may apply. Grants range from $10,000 to $500,000. There are a variety of eligible activities: training and technical assistance, acquisition of land, pollution control, capitalization of revolving loan funds, distance adult learning, and other uses. Program activities are separated into enterprise or opportunity grant activities.
For more information, contact Cindy Musshel at 614-255-2427 or email@example.com
Water and Wastewater Disposal Loans and Grants
Water and Wastewater Disposal Loans/Grants are direct loans and grants to build or improve essential public use facilities such as water and sewer facilities, storm sewers and solid waste facilities. Loans can be used for construction and non-construction costs including land, equipment, engineer services, legal services, capitalized interest, and initial operating funds.
Community Facility Loans and Grants
Community Facility (CF) Loans/Grants are administered through a USDA Rural Development program to develop community facilities for public use in rural areas and towns with populations of up to 20,000. Funds may not be used to construct, enlarge or improve facilities which provide essential services to rural residents and for non-construction costs including land, equipment, architectural services, legal services, capitalized interest and initial operating funds. Funds may not be used for commercial enterprises or recreational facilities.
For more information, contact Christopher Spellmire at 419-422-0242 or firstname.lastname@example.org