Fairfield County’s Revolving Loan Fund

Small businesses are challenged by a lack of access to capital. To address this need, the Fairfield County Revolving Loan Fund (RLF) was created to provide gap financing to provide low-interest loans to small-size and medium-size businesses in Fairfield County, OH.

In 2020, Fairfield County received funding from the U.S. Economic Development Administration to capitalize the CARES Act Recovery Assistance Revolving Loan Fund. This fund provides support to local businesses to help retain employees, create new jobs, and assist in economic recovery from the COVID-19 pandemic.

Contact Vince Carpico, vince.carpico@fairfieldcountyohio.gov for more information or to set up an initial call to discuss your business’s qualifications.
Funding Sources:
Original RLF (Application) (More Information)
CARES Act Recovery Assistance Revolving Loan Fund (Application) (More Information)
Eligible Borrowers:
Private-for-Profit, Non-profit businesses (startups or expansions) within Fairfield County (less than 200 employees)
Use of Proceeds:
Acquisition of buildings, machinery, equipment and other fixed assets; limited working capital; construction, repair and renovation of facilities (prevailing wage applies to all construction activities).
Rate:
0-6% as determined by the Loan Review Committee.
Term:
  • Useful life of machinery and equipment
  • Up to 20 years for real estate
  • 5 years limited use working capital
  • Fixed rate
Collateral:
Collateral value should be sufficient to cover the private lender financing and the RLF financing. If necessary, the RLF may request additional collateral. Smaller COVID-19 relief loans may not require collateral.
RLF Participation:
Startups will need to provide a minimum owner equity contribution totaling 10% of the project cost whereas businesses that have been in operation for more than two years will be subject to a 5% equity requirement.

CARES-RLF may not require any equity contribution from owner.
Application Fee:
Waived through 2021
Additional Information:
One full-time equivalent job must be created or retained for every $25,000 of Revolving Loan Fund financing.
Testimonials
The Fairfield County Revolving Loan Fund  has been essential in our business development. Integral in providing much needed financing for our business startup 4 years ago and now a vital resource in our growth, and the RLF committee has been nothing but supportive in helping us reach our goals as a company. The process from start to finish was straightforward and I would recommend this resource to any business owner in Fairfield County.
– Keith Jackson, Combustion Brewery


We are grateful for the Fairfield County Revolving Loan Fund. This program helped subsidize the purchase of our new location offering us a lower interest loan and less cash out of pocket than a conventional bank loan.  The program helped us secure the property and keep cash available for other startup costs.  Everyone from the county was very easy to work with, and the process went smoothly.  I would encourage others to look to Fairfield County as a place to start their new business and take advantage of the programs available.
- Tim Smith, Maverick Environmental Equipment