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Financing Programs

Below are descriptions of several financing programs available to companies that relocate to or expand in the City of Forest Park. Others may be available. For more information or assistance with the application process, contact the Economic Development Office at (513) 595-5207.

SBA 504
This program helps with fixed asset financing (land, building, and fixed equipment) to eligible borrowers. Typically, bank participation is 50% of the project cost, and owner equity is at least 10% of the project cost. SBA 504 will cover the remaining 40% of project costs up to $75,000 (SBA requirement: $35,000 per job). Terms are 10 years for equipment and 20 years on real estate. The interest rate is fixed at approximately 2% above US Treasury bond rates.
 
SBA 7(a) Loan Guarantee
This program helps small businesses obtain financing for working capital or fixed assets. The bank providing the financing determines the loan rate and terms. SBA guarantees the bank's investment. Owner equity ranges between 10-30%,
 
SBA Microloan
This program provides short-term financing for working capital (inventory, receivables and operating capital) to new and existing businesses. Owner equity is 10% or more.
 
Ohio 166 Regional or 166 Direct
These programs help primarily manufacturers acquire land, building, machinery and equipment. The loan covers 40% of eligible fixed costs up to $350,000 ; 30% above $350,000 to $1 million maximum. Terms are 5-15 years. The rate is 2/3 of Prime, fixed. Owner equity is 10% of project cost. Ohio prevailing wage rate applies.
 
Ohio Linked Deposit Program
This program provides financing for fixed assets, working capital and refinanced-debt for small businesses. The rate is 3% below current lending rates fixed for two years (with possible two-year extension). The company must have an Ohio headquarters and create one job for every $25,000 received in the project. Other conditions apply.
 
Ohio Mini-Loan Program
This program provides loan guarantees for fixed assets and equipment for small businesses (fewer than 25 employees), start-ups and existing business expansions for projects of $100,000 or less. The interest rate is currently 5.5%, and the maximum term for the guarantee is 10 years. Targets women and minority-owned businesses.
 
Tax Increment Financing (TIF)
Tax increment financing allows local communities to apply the incremental increase in property tax revenue that results from the development of a specific property toward public improvements to facilitate the project in question.
*The Hamilton County Development Company administers the SBA 504, SBA 7(a), SBA Microloan and Ohio 166 regional programs. The State of Ohio administers the Ohio 166 Direct, Ohio Linked Deposits and Ohio Mini-Loan programs.


Contact the City

1201 West Kemper Road
Forest Park, OH 45240-1697
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  • Phone: 513-595-5200
  • Fax: 513-595-5285
  • Staff Directory