West Central Development Corporation

Community advantage loan program - administer an outstanding loan portfolio consisting of 51 loans with outstanding principal balances of $2,577,513. During 2024, 4 loans totaling $640,900 were approved and funded. This program provides loans to small businesses for working capital, inventory, leasehold improvements, and other general business expenses. 84.5% of the loans were provided to small businesses within underserved markets, creating 545.5 jobs and providing 2,055.25 hours of technical support. The community advantage loan program adheres to the policies and procedures set forth by the u.s. Small business administration.

Regional 166 loan program - administer an outstanding loan portfolio consisting of 6 loans with outstanding principal balances of $2,052,858. During 2024, 3 loans totaling $2,000,000 were approved and 2 loans totaling $986,980 were funded. This program provides loans to ohio manufacturers for fixed asset purchases or improvements and 334 jobs have been created. The regional 166 loan program adheres to the policies and procedures set forth by the ohio department of administrative services.

Administer an outstanding loan portfolio consisting of 5 loans with outstanding principal balances of $3,119,989. During 2024, 1 loan totaling $2,110,000 was approved and funded. Other loan programs provide loans to targeted investment areas as defined by the cdfi fund and are supported by grant revenue to create innovative loan programs to support small businesses and economic growth. These programs have created 144 jobs and retained 142 jobs.