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Tips for a Successful SBA Loan Application for Food Industries: How to Secure Financing
In order to secure most small business loans, businesses have to provide three years of financial data to demonstrate that they can earn enough to make their monthly loan payment. However, for food industry businesses, the last few years may not be indicative of typical performance because of several pandemic-era relief programs and changes […]
Tips for a Successful SBA Loan Application for Manufacturing and Industrial Industries
Navigating the process of securing an SBA loan can be challenging, especially for businesses in the manufacturing and industrial sectors. However, with the right approach and preparation, you can enhance your chances of success. Here are some essential tips to help you secure an SBA loan for your manufacturing or industrial business, inspired by insights […]
OSDC Announces Mark Klettlinger as new Director of Lending
FOR IMMEDIATE RELEASE: July 31, 2024 Ohio Statewide Development Corporation Welcomes Mark Klettlinger as New Director of Lending COLUMBUS – The Ohio State Development Corporation (OSDC) is pleased to announce the appointment of Mark Klettlinger as the new Director of Lending. Most recently, Mark served at Heartland Bank as Vice President, Commercial […]
How to Find the Right Banker for Your Small Business
A common misconception is that a bank is just a place for your checking account. However, almost every bank has dedicated business bankers who can offer much more, especially for small businesses. These professionals help manage cash flow, assist with payroll, and provide strategic advice on taxes and debt management. They can even help […]
SBA Expands 504 Loan Program for Clean Energy Projects
The U.S. Small Business Administration has expanded the SBA 504 Loan Program to help clean energy projects access capital. This effort is part of a larger initiative by the Biden-Harris Administration to encourage investments in the clean energy economy. As of May 30, 2024, any project that qualifies for the SBA 504 program and has […]
New Program for Ohio Manufacturers to Save on Clean Energy Projects
The U.S. Department of Energy has announced a new tax credit program that can help manufacturers in qualified Ohio counties save money on energy efficiency upgrades and clean energy investments. The Qualifying Advanced Energy Project Credit Program (also known as the 48C Tax Credit) provides up to $6 billion to help manufacturers across the United […]
Navigating Interest Rates: What Small Businesses Need to Know
Interest rates play a crucial role in determining the cost of borrowing money for small businesses. As they fluctuate, small business owners face many financial decisions that can significantly impact their growth and stability. Understanding trends in interest rates can help businesses make informed choices about borrowing, investing, and managing cash flow. Monitoring Interest […]
Borrower Spotlight: Michael Byrne Manufacturing
Website: https://byrnegroup.com/ Location: Mansfield County: Richland Lending Partner: Park National Bank Michael Byrne Manufacturing is a women-owned family business that manufacturers auger boring machines, augers, cutting heads, and industrial gearboxes. It supplies utility contractors with equipment to drill horizontally underground to install water, sewer, gas, oil, and electric lines to provide energy to homes and businesses. The business started […]
Borrower Spotlight: The Book Loft of German Village
Website: https://www.bookloft.com/ Location: Columbus County: Franklin Lending Partner: Huntington National Bank The Book Loft is a well-known independent bookstore and destination in the German Village neighborhood of Columbus. One of the nation’s largest independent bookstores, The Book Loft stocks over 100,000 titles throughout the year and delights its customers with a layout comprised of 32 rooms full of books. […]
Borrower Spotlight: Costume Specialists
Website: https://costumespecialists.com/ Location: Columbus County: Franklin Lending Partner: KeyBank Founded in 1983, Costume Specialists is the world’s only custom mascot character production company that manufactures both foam and inflatable costumes. Under the leadership of Greg Manger, President and CEO, the company is dedicated to turning any character into a star, with creations that have reached […]