Hamilton County Development Company (HCDC) approved more money in SBA loans to small businesses in Hamilton County and Northern Kentucky than any other lending entity in fiscal year 2013. In Hamilton County, HCDC loaned 14 small businesses a total of $11,382,000 in SBA 504 Loans- $400,000 more than any bank.
“Our job is not to compete with the banks, it is to partner with the banks so that the small business comes out on top,” says David Main, President of HCDC. “These are not just numbers, these are jobs.”
Since SBA 504 loans have an economic development component, 115 jobs will be created in Hamilton County and another 212 jobs retained from the loans made in FY 2013.
In Northern Kentucky, HCDC came out on top by financing a total of $3,465,000 in the 5 county region (Boone, Bracken, Campbell, Grant and Kenton). That’s $1M more than then the runner-up. As far as jobs, HCDC’s loan portfolio shows 36 jobs will be created in Northern Kentucky and 82 jobs were retained with the SBA 504 loan program.
The SBA 504 Loan Program funds owner-occupied commercial real estate projects and heavy machinery. By partnering with area banks, HCDC helps businesses gain access to stable, long-term financing that creates jobs and improves the local economy. HCDC serves companies that are located in the State of Ohio, Commonwealth of Kentucky and Southeastern Indiana.
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