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  RESOURCE DIRECTORY FOR RECYCLING ENTERPRISES
    LOANS AND LOAN GUARANTEES  
  INTRODUCTION
  FINANCIAL RESOURCES
  BUSINESS RESOURCES
  RECYCLING RESOURCES
  APPENDIX
Cleveland Department of Economic Development
601 Lakeside Ave. #210
Cleveland, OH 44114
PH: 216.664.2406
Small Business Revolving Loan Fund
Discounted interest rate loans for the acquisition of fixed assets and for construction by Cleveland businesses that create or retain jobs. Loans up to $500,000 are available but cannot exceed 40% of total project costs. Must create one new job for every $15,000 borrowed. Loan rates equal 75% of prime. Loan terms up to 20 years or the useful life of the pledged asset.
Cuyahoga County
Department of Development
112 Hamilton Ave. 4th FL.
Cleveland, OH 44114
PH: 216.443.7260
Economic Development Loan Program
Below market, fixed rate loans and loan guarantees ranging from $35,000 to $350,000 to support large and small business expansion resulting in increased employment. To be eligible, a company must be located in one of the 46 suburban communities participating in the County's Community Development Block grant program (excluding Cleveland). Must create one new job per $35,000 borrowed.
Cuyahoga County
Department of Development
112 Hamilton Ave. 4th Floor
Cleveland, OH 44114
PH: 216.443.7260
Strategic Initiatives Fund
Below market fixed rate loans up to $1.5 million to support larger development projects which create or retain significant employment within the county.
Greater Cleveland Growth Association
200 Tower City Center
50 Public Square
Cleveland, OH 44113-2291
PH: 216.621.3300
http://www.clevelandgrowth.com
Pollution Prevention Loan Program
Low interest capital improvement loans to purchase equipment and for construction to complete pollution prevention activities. Loans can finance up to 80% of the project. Small and medium size companies with certified pollution prevention projects that will create or retain jobs are eligible to apply. Preferential interest rates for companies located in "distressed areas". This is a State of Ohio loan program administered by the Growth Association.
Greater Cleveland Growth Association
200 Tower City Center
50 Public Square
Cleveland, OH 44113-2291
PH: 216.621.3300
http://www.clevelandgrowth.com
SBA 504 Loan Program
Long term, fixed rate financing to assist small businesses with expanding or modernizing. Loans can finance up to 40% of a project's cost from $50,000 to $1 million. Applicants must be a for-profit business whose net worth is less than $6 million. One new job must be created for each $35,000 of funding. This is a U.S. SBA loan program administered by the Greater Cleveland Growth Association.
Greater Cleveland Growth Association
200 Tower City Center
50 Public Square
Cleveland, OH 44113-2291
PH: 216.621.3300
http://www.clevelandgrowth.com
166 Regional Loan Program
Below market fixed rate loans for smaller industrial projects (under $1 million) to support land and building acquisition, renovation, and manufacturing equipment purchase. Loans up to $350,000 are available but cannot exceed 40% of projects costs. One new job must be created for every $35,000 borrowed. Retail business are not eligible. This is a State of Ohio loan program administered locally by the Cleveland Area Development Finance Corporation of the Growth Association.
Ohio Department of Development
77 S. High St.
Columbus, OH 43216-1001
PH: 614.466.4551
http://www.odod.ohio.gov
Scrap Tire Loan and Grant Program
Loans and grants for fixed asset expansion for scrap tire recyclers who locate or expand in Ohio and who demonstrate they will create new products from Ohio's scrap tires. Preferential rates for qualifying companies locating or expanding in "distressed" areas. This is "take out" financing whereby a business must complete its project using interim financing from a conventional lender as equity. State funds are then disbursed upon completion of the project.
Ohio Department of Development
Regional Office
615 W. Superior Ave, 12th FL.
Cleveland, OH 44113
PH: 216.787.3240
http://www.odod.ohio.gov
Direct Loan Program (166 Loan)
Long term, below market fixed rate loans for large industrial projects over $1 million to support land and building acquisition and manufacturing equipment purchase. Loans up to 30% of total eligible fixed cost from $350,000 to $1 million. Equity minimum 10%, bank minimum 25%. Company must demonstrate repayment and management capabilities and create one job for every $15,000 borrowed. Three years of financial history must be provided.
Ohio Department of Development
Regional Office
615 W. Superior Ave., 12th FL.
Cleveland, OH 44113
PH: 216.787.3240
http://www.odod.ohio.gov
Ohio Mini Loan Program
Loan guarantees for fixed assets and equipment for start-up or existing businesses with fewer than 25 employees. Funds for equipment costs of $100,000 or less. Small business entrepreneurs are eligible. Targeted allocation to minority and women owned businesses. Continuation of this program is subject to reauthorization by the State Legislature in 1999.
Ohio Office of the Treasurer
30 E. Broad St., 9th FL.
Columbus, OH 43215
PH: 800.228.1102
http://www.state.oh.us/treasurer
Linked Deposit Program
Short term (2-year) below market rate loans up to $1 million for working capital, fixed asset purchases and refinanced-debt for small businesses who create or retain jobs. Application must be made to a state depository bank.
U.S. Small Business Administration (SBA)
Cleveland District Office
1111 Superior Ave. E, #630
Cleveland, OH 44114-2507
PH: 216.522.4180
http://www.sba.gov
SBA 7(a) Loan Guarantee Program
Loan guarantees for small businesses that cannot borrow on reasonable terms from conventional lenders. Can be used to obtain financing for fixed assets and for working capital for expansions, or start-ups. Lenders approve and service the loans and request SBA guarantees. The SBA can guarantee up to $750,000 of loans but not more than 75% of the total loan.
Note: there are a number of loan programs under the 7a Program that address specific needs. Contact the SBA Cleveland Office for more information.
U.S. Small Business Administration (SBA)
Cleveland District Office
1111 Superior Ave., #630
Cleveland, OH 44114
PH: 216.522.4180
http://www.sba.gov
7(m) MicroLoan Program
Provides short-term loans from under $100 to $25,000 for small scale financing purposes such as inventory, supplies, and working capital. Loans are provided by SBA certified micro lenders. Contact the SBA Cleveland District Office to obtain a list of micro lenders.
 
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Solid Waste District

323 Lakeside Ave W, Suite 400
Cleveland, Ohio 44113-1009
Tel: 216-443-3749
Fax: 216-443-3737
[email protected]