REVOLVING LOAN FUND INFORMATION

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Revolving Loan Fund Brochure
Required Information - Required information and approval process
Business Plan Questionnaire
Revolving Loan Fund Recipients

Revolving Loan Fund

The Van Wert City Revolving Loan Fund is a flexible loan program aimed at the small to mid-size development project located within the City of Van Wert. Funds can be used for machinery and/or equipment, building acquisition, new construction, remodeling, inventory and working capital.

This program allows qualified applicants to borrow up to $25,000 for each new job created. The Loan requires financial participation by at least one private lender, adequate new or existing collateral as loan security, and the capability to implement project while repaying loan.

For more information on revolving loans, please call the Economic Development Office at 419-238-2999 or email dmyers@ag.osu.edu.

Microenterprise Loan Fund

A grant approved by the State Office of Housing and Urban Partnerships allows new micro-loans to be made available for small business in Van Wert County. Loans are available to assist microenterprises to grow and prosper, primarily in the villages and outlying areas of the county. Special attention will be given to encourage the startup of a new business that fills service, retail or construction gaps within the village economies. Examples of service areas that could be funded include:

• Business Services including bookkeeping, desktop publishing, typing services, transcriptions, commercial cleaning, etc.

• Computer services including programming, web design, and software education.

• Personal services including residential cleaning, alterations, wedding planners, childcare services, nanny-finders services, personal shoppers, etc.

Retail microenterprise is often the “mom and pop” shops that line our rural small town main streets. In microenterprise, successful retailers can include home-based operations or online businesses selling on E-Bay or Yahoo Stores.

Examples include:

• Consignment shops including apparel, furnishings, and antique shops.

• Network retailing such as Mary Kay, Cosmetics, Tupperware, and other product-based programs.

• Combinations of retail and service work such as dog grooming, hair salon or crafts and floral.

Construction is another emerging micoenterprise category. These are most likely sub-contractors that work with larger construction firms and include carpenters, painters, dry wall, lawn care, snow removal, etc. For more information on small business loans, please call the Economic Development Office at 419-238-2999 or email dmyers@ag.osu.edu.