NEWS AND UPDATES

Tips for a Successful SBA Loan Application for Food Industries: How to Secure Financing

September 18, 2024

  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 […]

Borrower Spotlight: Buckeye Metal Finishing

September 18, 2024

Website: https://www.buckeyemetalfinishing.com/ Location: Dayton County: Montgomery Lending Partner: Wright-Patt Credit Union Buckeye Metal Finishing is a veteran-owned business in Dayton, Ohio serving the aerospace and defense industries. Established in 2013, they are accredited by the National Aerospace and Defense Contractors Accreditation Program (NADCAP) to provide specialty metal painting and finishing services for projects related to commercial aviation, military use, […]

Tips for a Successful SBA Loan Application for Manufacturing and Industrial Industries 

August 15, 2024

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

July 31, 2024

  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 […]

Borrower Spotlight: JLD Contruction

July 18, 2024

Website: https://www.jld-construction.com/ Location: Columbus County: Franklin Lending Partner: Buckeye State Bank JLD Construction is a heavy construction equipment company based in Columbus, Ohio working primarily on highway, airport, and commercial projects. They are a veteran-owned and minority-owned small business focused on bringing expanded diversity and experience to modernize Ohio’s construction industry.  OSDC worked with Buckeye State Bank to secure […]

How to Find the Right Banker for Your Small Business

June 18, 2024

  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

June 3, 2024

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

May 29, 2024

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

May 21, 2024

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

May 1, 2024

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 […]