In addition, soft costs related directly to the fixed asset expenditure may be included. Environmental Improvement Companies must be able to demonstrate measurable environmental improvements through pollution prevention to be eligible for the Pollution Prevention Loan Program. Eligibility Eligible borrowers include any operating non-retail business entity that demonstrates that its fixed asset expansion will retain jobs for Ohio citizens, is located in the State of Ohio, generates pollution or waste, and meets the definition of a small or medium sized business. This description will be made publicly available. The Pollution Prevention Loan Program may lend funds to businesses engaged in commerce, manufacturing, research and development or distribution.
Preference is given to industrial and manufacturing companies retaining high-paying jobs.
The term on a loan cannot exceed five years for machinery or equipment financing. The loan term cannot exceed the term of the bank loan. Project Completion Period Pollution prevention projects must be completed within a two year period after receiving the loan. The State requires that both the conventional lender and the business itself participate in the project to the maximum extent possible. Preference will be given to projects which maximize these sources.