State of Ohio 166 Regional Loan Program
Cascade Capital is authorized by the Ohio Department of Development to provide the Ohio 166 Regional Loan Program throughout Ohio. The objective of this loan program is to provide below-market, fixed interest financing options to area small businesses, thereby encouraging their investment in equipment and real property as well as new job opportunities for the local area. Please refer to the following key questions and answers providing important Ohio 166 Regional Loan Program information to both potential Program users and prospective commercial lending partners.

What are the primary advantages of using the Ohio 166 Regional Loan Program for major fixed asset acquisition and/or expansion projects?

  • Up to 90% project financing is provided.
  • Lower borrower down payment – usually only 10% is required.
  • Program interest rates are set below prime and fixed for the life of the loan.
  • Loan terms up to 15 years on real estate
  • Loan terms up to 10 years on equipment
  • Fast loan approval

Are there any circumstances in which a borrower down payment exceeds 10%?

Start-up businesses must contribute 20% direct equity.

What is the typical financing structure on projects featuring Ohio 166 Regional program financing?

  • 45-50% is funded by a commercial bank.
  • 40-45% is funded by Cascade Capital through the Ohio 166 program.
  • 10% is required as down payment (equity) by the borrower.
  • 100% Total Project Costs

What is the minimum loan term a bank lending partner must commit to when co-funding a project with an Ohio 166 Regional Loan?

The bank lending partner’s loan term must be at least as long as Cascade Capital’s Ohio 166 loan term.

What are the Ohio 166 Regional Loan Program security (collateral) requirements?

In most cases, the program requires a pro rata shared first lien or mortgage position on project assets with the participating bank lending partner; borrower must pay on additional 1% Fee if bank requires sole first security position. Personal guarantees of anyone owning at least 20% of the borrowing entity and/or operating company are required.

What is the dollar range of Ohio 166 Regional Loan Program participation?

$50,000 - $500,000

What types of businesses are eligible for Ohio 166 Regional Loan Program funding?

Preference is given to manufacturing, distribution, research and development; however, service-related companies creating permanent, quality jobs are also eligible. Retail businesses are not eligible for Ohio 166 Regional Loan Program assistance.

What are the Ohio 166 Regional Loan Program job creation/retention requirements?

One job per $50,000 of program financing is required over the first three years of the project. For projects creating new jobs that are at least four times the current federal minimum wage, one job per $75,000 is permitted.

What is the timeframe for Ohio 166 Regional Loan approval?

Upon receipt of a completed Ohio 166 Regional Loan package, Cascade Capital expedites your approval in 2-4 weeks.

What happens after Ohio 166 Regional Loan approval?

The borrower receives a commitment letter from Cascade Capital and upon return of a signed commitment letter, interim funding for 90% of the project total is provided by the bank lending partner. Upon completion of the project, Cascade Capital is notified and Ohio 166 Regional Loan closing begins.

How do I get started?

  • Down Load Cascade Capital Corporation Ohio 166 loan program from and provide requested materials from the Ohio 166 Regional loan program check list.
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Phone: 330 379-3160 Fax: 330 761-0307
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