The City of Wadsworth Revolving Loan Fund was created by a grant received from the State of Ohio's Community Development Block Grant program. The intent of the Revolving Loan Fund is to provide low interest loans for equipment purchases for industrial companies located in Wadsworth.
Revolving loan fund dollars may be used for business expansion or start-ups for industrial, manufacturing, commercial, retail, or service endeavors. The company may apply the money toward the acquisition of land or site improvements, building construction, rehabilitation or leasehold improvements, and/or machinery and equipment. These are below prime, fixed rate loans with a maximum of 15 years:
Machinery and equipment: 5 to 7 years
Real estate: 10 to 15 years
Email Harry Stark or contact him at 330-335-2707 for more information on this expansion incentive.