Quick Reference  |  Summary

Regional 166 Loan Servicing

Purpose

The Regional 166 Direct Loan Program promotes economic development, business expansion and job creation by providing financial assistance for allowable costs of eligible projects in Ohio. Eligible projects cost may include land and building acquisition, construction, expansion or renovation, and equipment purchases.

Program

The Ohio Development Services Agency's (ODSA) Regional 166 Direct Loan provides low-interest loans to businesses creating new jobs or preserving existing employment opportunities in Ohio.

For Whom

Eligible projects include those related to industry, commerce, distribution or research activities. Retail projects are ineligible for the Regional 166 Direct Loan.

Program Contact

Companies interested in finding out more about the program or discussing a potential project that may qualify for the Regional 166 Direct Loan Program must contact the designated regional agency for their area.

The approved loans are managed by the Ohio Development Services Agency. Responsibilities include: involvement in the loan closing process, drafting loan agreement amendments, disbursement of funds, collection of repayments, upholding the terms and conditions of the loan agreement, reviewing annual jobs reports and providing technical support to existing borrowers.

Existing Regional 166 Loan Support Inquiries: Keena Ridley (614) 466-4273

How Much

The Regional 166 Direct Loan may finance up to 40 percent of allowable project costs with loans up to $350,000.

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