The Northwest Ohio
Manufacturing Forum
Four Financing Programs
and Projects
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Fixed Interest Rate Bond Program
Stand-Alone Bonds
U.S. SBA 504 Loan Program
Ohio 166 Regional Loan Program

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305 projects
$1,108,447,464 direct financing
Nearly 16,000 jobs created and/or retained
Fixed Interest
Rate Bond Program
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Completed 56
$202 million+
$7 million maximum
BBB interest rates
Purpose of the Program

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Provide access to investment grade
financing for small to mid-size companies
Make long-term fixed rates available
Create jobs and investment in community
Eligible Borrowers
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Infrastructure projects;
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Tax Increment Projects (TIFs)
Special Assessment Projects
Non-profit or 501c(3) entities; and
Governmental borrowers
Eligible Projects
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Renovation & acquisition of existing
buildings
Construction of new buildings
Acquisition of land
Non-specialized equipment; and
Financing and other soft costs
Program Benefits and
Financing Terms

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Fixed rate (Up to 30 years for governmental,
infrastructure or non-profit borrowers; 20
years for industrial and commercial loans)
Construction and permanent financing
Close within 60-90 days
Requires prevailing wages for construction
projects
Partnerships

The Port Authority has partnered with the
OMA, First Energy, the Port of Cleveland and
the Summit County Port Authority in order to
help finance manufacturers.
Woodsage
Nagle Trucking
Stand-Alone Bonds
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Completed 41
$850 million
No maximum dollar limit
Anywhere in Ohio
Owens Corning
Crocker Park
Dana Technology Center
Levis Commons
General Motors
U.S. SBA 504 Loan
Program
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

Completed 106
$39 million
Fixed Assets only
U.S. SBA 504 Loan
Program

Typical Structure:

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50% bank or non-bank
40% SBA – 2nd position
10% equity
1 job created/retained for every $65,000 borrowed
U.S. SBA 504 Loan
Program

“Small” Business
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500 employees or less
Less than $15 million tangible net worth
Less than $3 million average net income over last 2
years
U.S. SBA 504 Loan
Program

Normal Maximum


$5 million
Manufacturing

$5.5 million
U.S. SBA 504 Loans
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Restaurants
Hotels
Convenience Stores
Realtors
Marina
Bowling Alley
Movie Theater
U.S. SBA 504 Loan
Program
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
10-year interest rate – 3.69%
20-year interest rate – 4.52%
Allshred
PizzaPapalis of Toledo
Ohio 166 Regional Loan
Program
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Completed 102
$17 million
Fixed Assets Only
Up to 40% of project costs
Maximum of $500,000
1job retained/created for every $50,000
Ohio 166 Regional Loan
Program
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Fixed Interest Rate
Term up to 15-years
Currently: 3.5%
DMC Technology, Inc.
Bollin Label
Bottom Line
Call the Port Authority!

Lisa Wagner
 Director

of Financing Programs
Laurie Cantrell
 Loan
Program Manager
419.243.8251