Cincinnati, OH – HCDC, Inc., a Certified Development Company dedicated to helping small businesses succeed, has been ranked the top Small Business Administration (SBA) 504 Loan Program lender for the State of Ohio in FY 2016. HCDC approved 29 SBA 504 loans in FY 2016, for a total dollar amount of $23,326,000.
The SBA 504 Loan Program provides small and medium-size businesses with long-term, low, fixed-rate financing for owner-occupied commercial real estate and heavy machinery projects. The inspiration behind the SBA 504 loan is to promote business investment and job creation by providing access to low down payment financing, so that small businesses can preserve cash to operate their business.
“The SBA 504 Loan Program is one of the most effective economic development finance tools for owner-occupied real estate,” says David Main, HCDC President & CEO, “It has a low down payment and a fixed interest rate to really benefit small businesses in their efforts to grow.”
Some of HCDC’s financed projects include Envision Cinemas in Blue Ash, for which HCDC lent $4,327,000; Funky’s Catering in The Transept in downtown Cincinnati, for which HCDC lent $1,410,000; Wegman Construction in downtown Cincinnati, for which HCDC lent $930,000; and Einstein Bros Bagels in West Chester, for which HCDC lent $581,000.
About HCDC, Inc.
Established in 1983, HCDC, Inc., formerly Hamilton County Development Co. Inc., helps build businesses and promote job creation in three simple ways: Business Incubation, Business Lending, and Economic Development services. Born out of a need to create jobs to counter a shrinking manufacturing sector, HCDC has nurtured over 300 resident entrepreneurial companies, financed over $1 Billion in loans, assisted economic development projects with over $3.2 Billion in investment, and has helped retain, attract, and create more than 47,000 local jobs. For more information on HCDC, Inc., visit: hcdc.com.
Kacey King Redmond
Marketing & Communications Coordinator