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RED Financing & incentives

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Overview of financing and incentives avaialble through RED in Wheeling, West Virginia.

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RED Financing & incentives

  1. 1. Financing & Incentives <ul><li>Loan Programs </li></ul><ul><li>State Micro-Loan: </li></ul><ul><ul><li>OVIBDC received a $180,000 grant from the SBDC </li></ul></ul><ul><ul><li>Available to: Brooke, Hancock, Ohio, Marshall, Wetzel, Tyler </li></ul></ul><ul><ul><li>Up to $15,000 loan to eligible companies </li></ul></ul><ul><li>SBA 504 Loan Program: </li></ul><ul><ul><li>Up to $2 million per project </li></ul></ul><ul><ul><li>Manufacturing up to $4 million per project </li></ul></ul><ul><ul><li>SBA will finance up to 40% of the total project </li></ul></ul><ul><ul><ul><li>2 nd position behind other lender </li></ul></ul></ul><ul><ul><ul><li>Take-out financing </li></ul></ul></ul><ul><ul><li>Available throughout WV </li></ul></ul><ul><ul><ul><li>In conjunction with the 14 West Virginia Small Business Development Centers and the West Virginia Development Office </li></ul></ul></ul>
  2. 2. Financing & Incentives <ul><li>Loan Programs (cont.) </li></ul><ul><li>Revolving Loan Fund (RLF): </li></ul><ul><ul><li>Serving Ohio and Marshall Counties </li></ul></ul><ul><ul><li>Up to $165,000 per loan </li></ul></ul><ul><ul><li>Shared first lien position </li></ul></ul><ul><ul><li>$35,000 per job created </li></ul></ul><ul><ul><li>Manufacturing companies eligible </li></ul></ul>

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