12200 Sprecher Avenue Cleveland, OH 44135
Zip Tool & Die is a small tool & die shop in Cleveland, Ohio that was founded in 1968. When the founding owner decided to retire, the company’s continued existence was uncertain. Through the assistance of Buckeye Community Bank and Ohio Statewide Development Corporation, a new owner was able to acquire the company’s assets and retain all 7 employees. Victor De Leon, the new owner of Zip Tool & Die, brings exciting new ideas and expertise to the company and is committed to creating 4 additional jobs.
Because the project involved both the acquisition of real estate and machinery & equipment, the Ohio Regional 166 Loan Program was able to offer Zip Tool a blended term of 12 years at a low, fixed rate.