Financing Options include:

• Fixed Interest Rate Revenue Bonds
• Off-Balance Sheet Transactions
• Infrastructure Financing
• Conduit Revenue Bonds
• Ohio 166 Regional Loan Program
• Small Business Administration 504 Loan Program

Click here to download the Initial Project Information Form.

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Fixed Interest Rate Revenue Bonds provide small and medium sized companies access to the national capital market as if they were BBB+ Investment Grade companies. It may provide:

• Financing for projects from $1 million to $8 million
• Fixed interest rates for full term of the bonds
• Typically 90% financing and 10% equity
• 20-year financing for land and buildings
• 7- or 10-year financing for equipment
• Tax exempt bonds for manufacturing, non-profit 501(c) 3, and governmental operations
• Taxable bonds for all other projects

Off-Balance Sheet Transactions provide large, publicly traded companies and certain non-profit organizations with significant benefits. Neither the asset nor the liability associated with the project appears on their balance sheet. The Port Authority owns the facility and leases it. The Financial Accounting Standards Board has strengthened the conditions needed to be met to keep a lease off-balance sheet, and Port Authority transactions are structured to meet those new requirements. The Port Authority has completed 16 off-balance sheet transactions for companies such as BAX Global, Owens Corning, HCR Manor Care, and Brush Wellman. Such transactions remain a viable option for certain entities. Other benefits include:

• Possible 100% financing
• Lower cost of construction
• Flexible options to purchase or extend lease
• Governmental, Operating, and Financing Leases available

Infrastructure Financing helps developers, governmental entities and other organizations finance public infrastructure such as streets, utilities, and public parking facilities. Mixed-use developments can tap tax increment financing or special assessments to provide debt service payments. The Port Authority has provided $75 million in tax exempt bond financing for infrastructure for Crocker Park, a mixed use facility in Westlake, Ohio. Other benefits include:

• Possibility of 100% financing
• Lower cost of construction
• Fixed interest rate, tax exempt financing
• Terms of up to 32 years

Conduit Revenue Bond financing offers a company the option of variable interest rates. Depending upon the borrower, these bonds may be backed 100% by a Letter of Credit. The Port Authority acts as a “conduit” for the issuance of such bonds. Past conduit transactions include the Toledo Museum of Art, Cargill, Inc., DaimlerChrysler Corp., and St. Francis de Sales High School.

Revenue Bond Territory is any county in the State of Ohio.

Ohio 166 Regional Loan Program provides a low interest rate program for financing land, building, and equipment for projects in Lucas, Wood, Fulton, Henry, Ottawa, Sandusky, Williams, Defiance, Seneca, and Erie Counties.
It offers:

• Up to 40% of project costs for manufacturing, manufacturing-related, distribution, and research and development businesses
• Loans of up to $350,000, based on about $35,000 for each job created or retained.
• A term of five to 15 years
• Current fixed interest rate of 4%.

Small Business Administration 504 Loan Program may provide fixed asset funding for a for-profit business with a net worth of not more than $7 million and net after-tax profit of not more than $2.5 million. A typical transaction consists of 50% bank financing; 40% SBA; and 10% equity. The SBA takes a second collateral position. This program is available from the Port Authority throughout Ohio. Benefits include:

• Up to 40% of project costs for any manufacturing, distribution, or commercial operation.
• Maximum loan of $1,500,000; up to $1,300,000 if the projects meets certain specific federal government policy objectives
• Term of either 10-years or 20-years
• Fixed interest rate at or slightly below market rate.

Initial Project Information form needed to determine whether a project meets the requirements of any of the Port Authority development financing programs is available on-line. If all of the information requested is provided, a preliminary determination usually can be made within five business days.

Additional Information is available by calling the Port Authority (419/243-8251). Ask for Lisa Wagner, or Laurie Cantrell.