Low-interest Loans
There are a number of low-interest loans available for economic development projects of all sizes. These include those offered by the county, the Ohio Department of Development, and the Small Business Administration. The following are the most commonly used programs and additional information is available through downloadable PDFs.

The SBA 504 Loan Program provides economic development financing designed to encourage private-sector investment in fixed assets, the results of which increase productivity and create new jobs. The program provides long-term, low down payment, reasonably priced fixed-rate financing to healthy and expanding businesses that have the probability of creating new jobs. To be eligible for a SBA 504 Business Loan, a small business applicant must be: an operating business; be organized for profit; be located in the United States; have a tangible net worth less than $7 million, and have an average net income after federal income taxes of less than $2.5 million for the preceding two years; and, be able to demonstrate a need for the desired credit. The City of Middletown works with the Certified Development Corporation of Butler County on this program.

Download a PDF document about this program.

The Ohio Capital Access Loan Program encourages lending by establishing a unique loan “guarantee” reserve pool at the lending institution. The State, the lender and the borrower each make a small contribution into the pool. The reserve pool is available to the lender for recovery of any losses they may have for any loan that is enrolled in the Capital Access Program. Borrower must be a small business with annual sales of less than $10 million and have its principal place of business in Ohio.

Download a PDF document about this program.

The Regional 166 Loan Program provides loans for land and building acquisition and equipment purchase. The typical loan structure involves a third-party lender loan at 50 percent of the total project cost, a loan from Horizons Certified Development Corporation at 40 percent of the total project cost, and a 10 percent equity contribution from the business being helped. The interest rate is fixed at not more than 2/3 of the Prime Rate. The Program offers up to a 15 year term on fixed asset financing, depending on the useful life of the assets financed up to 40% of total eligible fixed cost (up to $350,000).

Download a PDF document about this program.

More information about these and other incentive programs is available by contacting the City of Middletown’s Economic Development Department at (513) 425-7847 or via .