Loan Programs and Financial Advice
To assist our clients in obtaining financing, SBDC, Inc administers a number of loan programs. In the event you require funding for the purchase of real estate, machinery, equipment, or even to acquire working capital, perhaps we can help. Our loan programs are designed to encourage economic growth through capital formation and job creation and retention.
The following loan programs, when combined with private sector financing, may provide up to 90% of the financing for eligible small business projects:
City of Springfield Revolving Loan Program
- Direct loans to for-profit manufacturers, retailers or service businesses located in Springfield
- Flexible rates and terms
City of Springfield Micro-Loan Program
- Direct loans of up to $5,000 for micro enterprises (less than five employees) located in Springfield.
- Typically new and start-up businesses
Clark County Revolving Loan Program
- Direct loans to for-profit manufacturers, retailers or service businesses located in Clark County.
- Flexible rates and terms
Child Care Micro-Enterprise Loan Program
- Loans to provide assistance to established and new child day care providers
- Loans are available to those businesses located in Champaign, Clark, Green and other surrounding counties
SBA 504 Loan Program
- Direct loans to established businesses in Ohio for land and building acquisition, expansion, renovation and equipment purchases
- Participation with financial institutions on projects costing $125,000 or more
- Fixed rate financing for 10 or 20 years
How to prepare for a business loan
Whether you are applying for one of our loans or choose to work with another lender of your choice, document requirements may vary. For this reason, we suggest you contact your chosen lender to acquire the exact information required. Common information by lenders include:
- Purpose(s) of your loan request
- History of your business and the industry
- Financial statements for the past three years
- Schedule of term debts (existing businesses)
- Aging of accounts receivable and payable (existing businesses)
- Projected opening day balance sheet (new businesses)
- Projected income, expenses and cash flow
- Building lease or purchase details
- Amount you plan to invest in the business venture
- Signed personal financial statement
- Personal resumes of owners and key staff personnel
- Past three years personal or acquisition business tax returns
Mark Keating
Loan Program Manager
937.322.8685