REYNOLDSBURG - Business owners now can apply for their share of $2 million in low-interest loans funded by Ohio Department of Agriculture through a newly created Agriculture Revolving Loan Fund.
The department is partnering with Ohio
State University and Buckeye Hills-Hocking Valley Regional Development District to facilitate the loan process, which is to use state funds made available through the U.S. Department of Agriculture.
The fund is to make loans available for the creation and expansion of businesses and industries that support agriculture and rural Ohio and that focus on aquaculture, food processing and biofuels in
Other projects also are to be considered.
For more information, visit www.agri.
Loans are to range from $10,000-$100,000, and the revolving loan fund is to finance up to 90 percent of total project cost.
Funds could be used for activities such as acquisition and improvement of land, buildings, plant facilities and equipment, as well as new construction or renovation of existing facilities, modernization, demolition and site preparation.
Eligible applicants include private, for-profit businesses and industries. Applicants must be U.S. citizens and at least 18 years old.