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Main Street Lancaster: Downtown Loan Program
Main Street
Lancaster and the Downtown Lancaster Special
Improvement District are proud to partner
with four local banks that have earmarked $2
million in loans for downtown property
owners and businesses.
Standing Stone National Bank, Fairfield
National Bank, People’s Bank, and The
Community Bank have each offered $500,000
toward this program.
Specifics Include:
• $2 million
in earmarked loans for downtown businesses
to improve facades and/or the interior of
the business
• $70,000 cap per project ($5,000 cap for
signage)
• 5 year terms at 5.25% fixed interest
• Must meet the banks current
underwriting guidelines to qualify
• Contact any one of the banks participating
for more information, or call David at
740-653-8251
Revolving Loan Fund
Fairfield
County is a Main Street Lancaster/Special
Improvement District strategic community
partner. Small businesses should also
consider the Fairfield County Revolving Loan
Fund when they are searching for financing.
The
Fairfield County Revolving Loan Fund was
created in 1992 using grants from two
separate agencies: the United States
Economic Development Administration (EDA)
and the Ohio Department of Development (ODOD),
Office of Housing and Community
Partnerships. Since its creation, the
program has provided funding for nearly 60
projects with loans totaling $2.9 million.
The purpose of the Revolving Loan Fund is to
assist new or existing small businesses
achieve their goals and create jobs in
Fairfield County.
Go to:
http://www.co.fairfield.oh.us/dev/faifield_co_revolving_loan_fund.htm
for more information.
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