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RED Financing & incentives

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

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

Published in: Economy & Finance, Business

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