Fairfield County’s Revolving Loan Fund

Low-interest gap financing for small and medium-size businesses in Fairfield County, Ohio.

In short

What the RLF offers

Small businesses are challenged by a lack of access to capital. To address this need, the Fairfield County Revolving Loan Fund (RLF) was created to provide gap financing to provide low-interest loans to small-size and medium-size businesses in Fairfield County, OH.

Rates run 0–6%, terms reach 20 years for real estate, and the application fee is $250. Businesses with fewer than 200 employees — startups included — are eligible.

Loan terms at a glance

Funding sources
Original RLF (Application) (More Information)
Eligible borrowers
Private-for-Profit, Non-profit businesses (startups or expansions) within Fairfield County (less than 200 employees)
Use of proceeds
Acquisition of buildings, machinery, equipment and other fixed assets; limited working capital; construction, repair and renovation of facilities (prevailing wage applies to all construction activities).
Rate
0-6% as determined by the Loan Review Committee.
Term
  • Useful life of machinery and equipment
  • Up to 20 years for real estate
  • 5 years limited use working capital
  • Fixed rate
Collateral
Collateral value should be sufficient to cover the private lender financing and the RLF financing. If necessary, the RLF may request additional collateral.
RLF participation
Startups will need to provide a minimum owner equity contribution totaling 10% of the project cost whereas businesses that have been in operation for more than two years will be subject to a 5% equity requirement.
Application fee
$250.00
Additional information
One full-time equivalent job (approx. 35 hrs./ week) must be created or retained for every $25,000 of Revolving Loan Fund financing.

Testimonials

The Fairfield County Revolving Loan Fund has been essential in our business development. Integral in providing much needed financing for our business startup 4 years ago and now a vital resource in our growth, and the RLF committee has been nothing but supportive in helping us reach our goals as a company. The process from start to finish was straightforward and I would recommend this resource to any business owner in Fairfield County.

– Keith Jackson, Combustion Brewery

We are grateful for the Fairfield County Revolving Loan Fund. This program helped subsidize the purchase of our new location offering us a lower interest loan and less cash out of pocket than a conventional bank loan. The program helped us secure the property and keep cash available for other startup costs. Everyone from the county was very easy to work with, and the process went smoothly. I would encourage others to look to Fairfield County as a place to start their new business and take advantage of the programs available.

- Tim Smith, Maverick Environmental Equipment
How to apply

Start with a call

Contact Vince Carpico, vince.carpico@fairfieldcountyohio.gov for more information or to set up an initial call to discuss your business’s qualifications.

P: 740-652-7163

RLF loan application