ENVIRONMENTAL PROJECT FINANCING INFORMATION
LOAN, BOND AND SIMILAR PROGRAMS
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This part of the Linked Deposit Program focuses on agriculture: permanent working capital/revolving line credit/livestock/crops.
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Contact the Ohio Department of Development : Economic Development Division,
Office of Business Development (614) 466-4551 or (800) 848-1300.
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Offers loans to public water system owners at below-market rates for water treatment and water distribution system improvements. Eligible systems must be publicly or privately owned community water systems or non-profit, non-community water systems.
Contact: Ohio EPA, Division of Drinking and Ground Waters, (614) 644-2752.
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Drinking Water Emergency Loan Fund
The Drinking Water Emergency Loan Fund provides loans to owners or operators of public drinking water systems for emergency remediation of a threat of contamination which prevents the system from supplying adequate quantities of safe, drinkable water to its users. To be eligible, the system must have a valid license to operate and document the threat of contamination.
Contact: Ohio EPA, Division of Drinking and Ground Waters, (614) 644-2752.
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This program is designed to help grassroots environmental organizations diversify, stabilize and increase their long-term funding base. Only local, state and regional 501(c)3 organizations working to protect the environment may apply. Loans, ranging from $10,000 to $50,000, are made for membership development, mission-related entrepreneurial efforts, donor base expansion, special events, workplace giving and other long-term income product projects.
Contact: Pam Macedonia, Environmental Support Center 4420 Connecticut Avenue, NW, Washington D.C. 20008-2301 (202) 966-9834.
Land and building acquisition, expansion or renovation, equipment purchase, and new construction projects preferred.
Contact: Bruce Langner, Office of Financial Incentives, Ohio Department of Development, (614) 466-5420 or 1-800-848-1300.
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The Linked Deposit Program offers reduced rate financing to eligible small businesses in Ohio. Fixed assets, working capital and refinanced-debt for small businesses creating or retaining jobs.
Contact: Sue Hamilton, Public Affairs Office, Treasurer of the State, 30 East Broad Street, Columbus, Ohio 43266-0421 (614) 466-6546 or 1-800-228-1102.
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Linked Deposit Program for Petroleum Underground Storage Tanks
This program was designed to assist small petroleum retailers with the upgrade/replacement of existing petroleum underground storage tanks (USTs); also applies to other small businesses/farms with petroleum USTs.
Contact: Starr Richmond, Chief Accountant, Petroleum Underground Storage Tank Release Compensation Fund (614) 752-8963.
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The Ohio Air Quality Development Authority issues bonds with attractive terms, providing substantial benefits for companies seeking financing for air pollution control and pollution prevention equipment. Certain projects financed through the Authority may qualify for state and local tax savings as well.
Contact: Mark Shanahan, Small Business Ombudsman, 1901 LeVeque Tower, 50 West Broad Street, Columbus, Ohio 43215 (614) 728-3540.
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The following loan or low-interest bond programs are available through the Ohio Department of Development.
- Ohio Enterprise Bond Fund
Provides funding for land and building acquisition, construction, expansion or renovation, and equipment purchases for commercial or industrial projects between $1.5 million and $10 million in size. Contact the Office of Business Development for more information at (614) 466-4551 or (800) 848-1300.
- Ohio Qualified Small-Issue Bond Program
Provides low-interest financing for small manufacturing facilities locating or expanding in Ohio that have or can obtain allocations of volume cap. Contact the Office of Tax Incentives for More information at (614) 466-2317 or (800) 848-1300.
- Volume Cap Program
Provides authority to issue tax-exempt bonds for select private activities. Awarded pursuant to Sections 122-4-01 to 122-4-08, OAC. Contact the Office of Tax Incentives for More information at (614) 466-2317 or (800) 848-1300.
- 166 Direct Loan
Provides loans for land and building acquisition, expansion or renovation, and equipment purchase. Contact the Office of Business Development for more information at (614) 466-4551 or (800) 848-1300.
- 166 Regional Loan
Provides loans for land and building acquisition, expansion or renovation, and equipment purchase. Twelve local economic development agencies administer the program. Contact the Office of Business Development for more information at (614) 466-4551 or (800) 848-1300.
- Pioneer Rural Loan
Provides direct loans for businesses locating or expanding in Ohio's rural areas. Businesses must demonstrate that they will create new jobs for Ohio citizens in rural areas. Loan may be used for acquisition of land and buildings, new construction, renovation and expansion of existing buildings and acquisition of machinery and equipment. Contact the Office of Business Development for more information at (614) 466-4551 or (800) 848-1300.
- Capital Access Program
Encourages lending by establishing a unique loan "guarantee" reserve pool at the lending institution. The State, the lender and the borrower each make a small contribution into the pool. The reserve pool is available to the lender for recovery of any losses they may have for any loan that is enrolled in the Capital Access Program. Contact the Office of Minority Business Financial Incentives for more information at (614) 644-7708 or (800) 848-1300.
- Minority Direct Loan
Provides loans for the purchase or improvement of fixed assets for state-certified minority-owned businesses. Contact the Office of Minority Business Financial Incentives for more information at (614) 644-7708 or (800) 848-1300.
- Ohio Mini-Loan Guarantee Program
Provides loan guarantees for fixed assets for small business (start-up or existing business expansion) for projects of $100,000 or less. Contact the Office of Minority Business Financial Incentives for more information at (614) 644-7708 or (800) 848-1300.
- Rural Industrial Park Loan
Provides direct loans and loan guarantees to rural, distressed local communities and other eligible applicants committed to creating well-planned industrial parks. Contact the Office of Business Development for more information at (614) 466-4551 or (800) 848-1300.
- Urban Redevelopment Loan
Removes development barriers from urban core property so that private sector job opportunities can be created. Contact the Office of Business Development for more information at (614) 466-4551 or (800) 848-1300.
- Urban and Rural Initiative
Provides assistance to municipalities and nonprofit economic development organizations in distressed areas for land acquisition, infrastructure improvements, renovation of existing buildings and Brownfield site remediation (project must participate in the Voluntary Action Program). The project must result in economic reuse or the creation of industrial parks. Contact the Office of Business Development for more information at (614) 466-4551 or (800) 848-1300.
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Ohio Water Pollution Control Loan Fund
Ohio's Water Pollution Control Loan Fund offers communities below-maket interest rates for municipal wastewater treatment improvements and non-point source pollution control and pollution prevention projects.
Contact: Tracy Bruny-Harrision, Division of Environmental and Financial Assurance, Ohio EPA P.O. Box 1049, Columbus, Ohio 43216-1049 (614) 644-2798.
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The Certified Development Company (CDC)/504 loan program is a long-term financing tool for economic development within a community. The 504 Program provides growing businesses with long-term, fixed-rate financing for major fixed assets, such as land and buildings. Check the web page for a list of CDCs.
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The Village Capital Improvement Fund aids Ohio villages with loans for financing preliminary and detailed engineering plans, feasibility studies and legal costs associated with planning phases of wastewater and/or drinking water facilities. Application must be made prior to the preparation of the plans, study or design for which funds are requested. Eligible villages include those who by ordinance or resolution of their legislative authority have determined it is necessary to construct or improve wastewater or public drinking water facilities.
Contact: Ohio EPA, Division of Environmental and Financial Assistance, (614) 644-3637.
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The Water Pollution Control Loan Fund offers communities below-market interest rates for municipal wastewater treatment improvements and non-point source pollution control projects. Among the projects eligible for assistance are: wastewater treatment facilities; septage receiving facilities; landfills; urban storm water runoff; forestry best management practices; agricultural runoff control and brownfield/contaminated site remediation.
Contact: Tracy Bruny-Harrision, Division of Environmental and Financial Assistance
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The linked deposit program is a mechanism for financing certain Water Pollution Control Loan Fund (WPCLF) projects. Instead of borrowing directly from the Fund, a linked deposit loan is made to the applicant by a private lending institution. The below-market interest rate for the loan is supported by a WPCLF-funded certificate of deposit with the lender. The Ohio WPCLF was the first SRF program in the nation to use linked deposits.
Contact: Tracy Bruny-Harrision, Division of Environmental and Financial Assistance, Ohio EPA P.O. Box 1049, Columbus, Ohio 43216-1049 (614) 644-2798.
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Office of Compliance Assistance and Pollution Prevention
Ohio Environmental Protection Agency
P.O. Box 1049
Columbus, Ohio 43216-1049
Phone (614) 644-3469
Fax (614) 644-2807
Toll Free (800) 329-7518
E-Mail: p2mail@epa.state.oh.us
page last updated: October 10, 2007
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