COLUMBUS, Ohio (October 23, 2024) The Ohio State Development Corporation (OSDC) is pleased to announce it is the first lender in Ohio to utilize the U.S. Small Business Administration’s (SBA) 504 Green Energy Loan Program under its expanded rules.

OSDC helped a minority-owned small business in the Columbus, Ohio region invest in energy efficiency upgrades for two aging hotel properties. Because the owner had already met their SBA lending limit through various SBA 7(a) business loans, the SBA 504 Green Energy Loan Program made it possible to purchase these properties, make necessary upgrades, and reduce their energy footprint by over 15%.

“We are proud to support the small businesses of Ohio through the SBA 504 Green Energy Loan Program,” said Katie Kramer, OSDC Executive Director. “The flexibility of SBA’s expanded program gives local businesses even more low-cost financing options to invest in energy efficiency.”

Altogether, these investments will preserve approximately 20 jobs in the region and help the City of Columbus meet its Climate Action Plan goals of carbon neutrality by 2050 and 45% reduction by 2030. Further, they are a commitment to delivering on the nation’s clean energy policies with expanded access to capital made available by the SBA.

“The Biden-Harris Administration’s Invest in America agenda is powering Ohio’s economic transition to a clean energy future by supporting America’s small businesses,” said Geri Aglipay, Regional Administrator for the U.S. Small Business Administration. “Small businesses and homes account for more than one-third of U.S. emissions, so it is vital that entrepreneurs are part of the solution. Under SBA Administrator Guzman’s leadership, the SBA is doubling down on ensuring that small businesses and community lenders can actively participate in the green sectors toward a more prosperous economy for all.”

To learn more about OSDC financing and the SBA 504 Green Energy Loan Program, visit www.osdc.net.

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About OSDC:
The Ohio State Development Corporation (OSDC) fosters economic development and supports small businesses through innovative lending solutions and partnerships. With a commitment to excellence and a focus on community impact, OSDC offers a range of programs designed to help businesses grow and succeed. 

Media Contact
Katie Kramer| Ohio Statewide Development Corporation
614-481-3214 |kkramer@osdc.net