Department of Community and Economic Development

Contact Information

Gina Hofstetter
(440) 279-1794

Tina Breunig
Office Coordinator
(440) 279-1790

Elaine Malkamaki
Program Coordinator
(440) 279-1791

Community and Economic Development
12611 Ravenwood Drive
Suite 370
Chardon, Ohio 44024

Fax:  (440) 285-7761

Geauga Revolving Loan Fund

Financial Assistance Program for Geauga Businesses


Business RLF Application

Affidavit in Compliance with Section 3517.13 of the Ohio Revised Code

DMA Form:  Government Business and Funding Contracts

Form W9:  Request for Taxpayer Identification Number and Certification


Check out the Geauga County Revolving Loan Fund publication which recognizes the 25th Aniversary of this program. Many accomplishments are noted with some valuable information about our services. Discover the "AWE" in Geauga!

The Geauga County Revolving Loan Fund is a program created to provide Gap Financing to qualified businesses, and is administered by the Geauga County Department of Community & Economic Development.

The Revolving Loan Fund provides direct loans at below prime interest rates on a portion of a project to enable companies to acquire conventional financing or other financing on the remainder of the project.

The RLF program will consider all projects of merit which create long-term, permanent jobs. The RLF Program can be used for new businesses and expansions. The loan term cannot exceed terms of the primary lending source. The Revolving Loan Fund program can be used in combination with the SBA 504 program and the State "166" program to fill the gap created by insufficient owner equity and private financing.

A major purpose of the Revolving Loan Program is to create jobs in the community. For each $25,000.00 loaned, one job must be created for a Geauga County resident within two years of project completion.

Priority is given to companies that create more long-term, permanent jobs. Under special circumstances, companies moving into the county that retain jobs will also be considered for a Revolving Loan.

A majority (51%) of the jobs created or retained must be taken by or made available to low and moderate-income County households. The types of jobs suited to the target population include semi-skilled or unskilled, manufacturing, industrial or commercial requiring minimal education and prior work experience. The RLF is not meant to be the primary lending source. All RLF projects must leverage a minimum ratio of one private sector dollar to one RLF dollar. The RLF portion shall not exceed 50% of the total project cost. A minimum of 10% owner equity is required for each expansion project and up to 25% for a business start-up.

The Revolving Loan Fund began in 1983. To date, over 80 loans have been made, the smallest being $3,000.00 and the largest $500,000.00.

The RLF has loaned to a variety of businesses:

  • Barber salon
  • Diamond cutter
  • Restaurants
  • Hardware store
  • Cheese maker
  • Cabinet maker
  • Landscapers
  • Auto parts manufacturer
  • Manufacturers
  • Veterinary clinic
  • Medical facility
  • Livestock facility
  • Various plastics/rubber/polymer companies

The maximum loan is dependent upon the amount of RLF dollars available. Mortgages may be prepaid without penalty.

The loan must be secured by a mortgage, and/or a purchase money security interest, a Participation Agreement, a Security Agreement and Personal Guaranty.

Information Needed for Review

  1. Three years historical financial information
  2. Three years projected financial information
  3. Interim financial information
  4. Personal financial statements
  5. Resumes
  6. Description of business and project
  7. Cost estimates for project
  8. Letter of commitment from participating bank

Depending on the project, other information may be required.

  • Newbury Township industry.
    Newbury Township Industry
  • Kinetico in Newbury.
    Kinetico in Newbury