Revolving Loan Fund
It is anticipated the launch of the Revolving Loan Fund will take place in the second quarter of 2021. More information will be posted here as it becomes available.
The U.S. Department of Commerce’s Economic Development Administration (EDA) announced on February 18, 2021, the award of a $2.4 million CARES Act Recovery Assistance Grant to the Toledo-Lucas County Port Authority to create a Revolving Loan Fund for businesses in Northwest Ohio. The EDA grant will be matched with $600,000 in local investment in establishing a $3 million loan fund.
Leveraging its experience in managing various financing programs throughout the state, the Port Authority will create the Revolving Loan Fund for eligible businesses throughout Lucas, Ottawa and Wood Counties in Ohio. The Revolving Loan Fund would help to address a regional weakness in access to capital and support the overall goals of the Comprehensive Economic Development Strategy (CEDS) for the region.
For more information on the implementation of this program, including timing and process for applying, please contact Craig Teamer at 419.243.8251.