The CROP Loan program was created and is aministrated by Lake Development Authority for the purpose of providing affordable short-term financing for Agro-Businesses in Lake County.
Short term operating needs such as inventory, supplies and payroll are eligible; typically, expenses for seasonal start-up or harvesting. The loan term is a maximum of one year and must be paid in full before reapplying.
SBA 504
LOANS
OHIO 166 LOAN PROGRAM
The U.S. Small Business Administration 504 Loan program conserves working capital by requiring only a 10% borrower contribution. If you don’t qualify for conventional financing, this may be a solution. The program offers below market fixed interest rates for the life of the loan. Lake Development Authority staff can direct you to the local program administrators (CDCs).
The Ohio 166 Loan Program is a State-funded loan pool that can finance up to 40% of the total cost of a business capital investment project at fixed, below market interest rates with a lower down payment. The Ohio Statewide Development Corporation (OSDC) offers this loan program to businesses (except retail) in all Ohio Counties.
