The Revolving Loan Fund is primarily a “gap” financier designed to participate in conjunction with a private lender(s) for either start up or expansion of business entities located with in the confines of Hancock County, Ohio.

Proceeds from the Hancock County and City of Findlay RLF can be used for fixed asset projects such as building and land acquisition, new construction, renovation and expansion of an existing facility, demolition and site preparation, or new or used machinery and equipment acquisition. Each loan should produce at least one new permanent full-time equivalent job for every $25,000 loaned. At a minimum, 51% of the permanent full-time equivalent employment opportunities created must be made available to persons from low/moderate income households. In most cases, job creation attributable to the Revolving Loan Fund must take place within 36 months of project completion. Ohio prevailing wage rate applies to all new construction, renovation, and installation of machinery and equipment in which CDBG funds participate.

The Microenterprise Loan program was been established to meet the same goals as the RLF Loan program. The microenterprise loan program targets small loan amounts, under $35,000, typically used for working capital or business startup expenses. The Microenterprise Loan program has extra flexibility in working with applicants that the standard RLF does not.