Solomon Islands Finance

Aug 31 2017

Business Bonds, Grants, Loans, and Tax Credits #grants #and #loans #for #small #business


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Business | Business Grants, Loans and Tax Credits

The Ohio Minority Business Direct Loan Program provides fixed, low-interest rate loans to certified minority-owned businesses that are purchasing or improving fixed assets and creating or retaining jobs. The loans can be used to finance up to 40 percent of the project value and require participation by another lender.

The Ohio New Markets Tax Credit Program helps to finance business investments in low-income communities by providing investors with state tax credits in exchange for delivering below-market-rate investment options to Ohio businesses. Investors receive a 39% tax credit spread over seven years if they make an investment in a qualified low-income community business. Community Development Entities (CDEs) apply to the program for allocation authority, and work with investors to make qualified low-income community investments. The attractiveness of the tax credit helps to spark revitalization in communities of all types and sizes.

The Ohio Training Grant servicing function of the Ohio Development Services Agency provides assistance to businesses that have been previously awarded a grant by the State of Ohio. These services include: drafting grant agreements and any subsequent amendments, processing grant payment requests, reviewing annual reports, and providing technical support to existing grantees. Any questions with respect to an existing grant agreement should be directed to the Office of Strategic Business Investments, Grants Section, at (614) 466-2317.

New applications for this program are not being accepted.

The Ohio Capital Fund. a fund of funds, was established by the State of Ohio to help increase private investment in Ohio companies in the seed or early stage of business development. The Ohio Capital Fund is actively making commitments to venture capital funds and through these commitments, the Ohio Capital Fund acts as a catalyst to promote venture capital investment in promising Ohio companies.

The Ohio Capital Fund is administered by the three-member Ohio Venture Capital Authority. Legislatively, the Authority is comprised of three members appointed by the Governor and is responsible for the oversight of the Ohio Capital Fund and its related infrastructure.

The Ohio Workforce Guarantee Grant servicing function of the Ohio Development Services Agency provides assistance to businesses that have been previously awarded a grant by the State of Ohio. These services include: drafting grant agreements and any subsequent amendments, processing grant payment requests, reviewing annual reports, and providing technical support to existing grantees. Any questions with respect to an existing grant agreement should be directed to the Office of Strategic Business Investments, Grants Section, at (614) 466-2317.

New applications for this program are not being accepted.

The Regional 166 Direct Loan provides low-interest loans to businesses creating new jobs or retaining existing employment opportunities at the project site in Ohio. The program promotes economic development, business expansion, job creation and/or job retention by providing low-interest loans to businesses who may have limited access to adequate capital from private sources of financing.

The 166 Direct Loan servicing function of the Ohio Development Services Agency provides assistance to businesses that have been previously approved for a loan by the State of Ohio Controlling Board. Any questions with respect to an existing loan agreement should be directed to the Office of Loan Administration, Finance and Internal Services Division at (614) 466-5420.

Roadwork Development (629) funds are available for public roadway improvements, including engineering and design costs. Funds are available for projects primarily involving manufacturing, research and development, high technology, corporate headquarters, and distribution activity. Projects must typically create or retain jobs. Grants are usually provided to a local jurisdiction and require local participation.

The Research and Development Investment Loan Fund servicing function of the Ohio Development Services Agency provides assistance to businesses that have been previously approved for a loan by the State of Ohio Controlling Board. Any questions with respect to an existing loan agreement should be directed to the Office of Loan Administration, Finance and Internal Services Division at (614) 466-5420.

The Research and Development Investment Tax Credit provides a nonrefundable tax credit against the Commercial Activity Tax (CAT) and is designed to encourage Ohio’s corporations to invest in increased research and development activities.

The Research and Development Sales Tax Exemption provides an exemption from the usual state and county sales tax for companies that purchase equipment for research and development activities.

The Ohio Development Services Agency received more than $55 million from the U.S. Department of Treasury for the State Small Business Credit Initiative (SSBCI) to encourage lending to small businesses. The Ohio Development Services Agency administers the following state-run financing programs utilizing SSBCI funds to help finance small businesses and manufacturers that are creditworthy, but are not receiving the financing they need from the private sector to expand and create jobs.

The Ohio Development Services Agency is the recipient of federal funding through the annual State Energy Program(SEP). which is formula-based funding provided by the United States Department of Energy. Each state is allocated grant funding to address energy priorities such as adopting emerging renewable energy and energy efficiency technologies. For more information on this federal program, please click here.

The Ohio Development Services Agency issues competitive solicitations that direct grant funding to education, outreach, technical assistance, and other services. The goals are to increase jobs, reduce energy use, and/or reduce greenhouse gas emissions through the increased adoption of renewable energy and energy efficiency technologies across Ohio.

When new bid opportunities are available, they will be posted here. Please check back often for updates on available State Energy Program opportunities.

Tax Increment Financing (TIF) is an economic development mechanism available to local governments in Ohio to finance public infrastructure improvements and, in certain circumstances, residential rehabilitation. A TIF works by locking in the taxable worth of real property at the value it holds at the time the authorizing legislation was approved. Payments derived from the increased assessed value of any improvement to real property beyond that amount are directed towards a separate fund to finance the construction of public infrastructure defined within the TIF legislation.

A TIF is created administered by the county, municipality or township where it is located.

Volume Cap is federally authorized and refers to the maximum amount of tax-exempt private activity bonds that can be issued annually in each state. Annually, each state receives an allocation of Volume Cap that is referred to as the state ceiling. This ceiling is based upon an IRS Inflation Adjustment and IRS Calendar Year Resident Population Estimates.

The Qualified Energy Project Tax Exemption promotes the deployment of alternative energy sources in Ohio by exempting the public utility tangible personal property tax and the real property tax for energy facilities in favor of an affordable, fixed annual payment in lieu of taxes for the life of the facility. Owners of large energy facilities must repair roadways damaged in the construction of the facility, train and equip emergency personnel, develop relationships with members of the university system of Ohio to promote education in alternative energy, and remain in compliance with all applicable federal, state, and local regulations.


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