Seneca County Revolving Loan Fund (RLF)

Low-Interest Loans to Help Local Businesses Grow and Create Jobs

What Is the Revolving Loan Fund?

The Seneca County Revolving Loan Fund (RLF) is a program that helps businesses in Seneca County get low-interest loans to grow, expand, or improve their operations. These loans can be used to pay for big-ticket items like buildings, equipment, or land. These, and other fixed-assets, are the things your business owns and uses over time.

This program is not a replacement for a bank loan. In fact, most businesses that use the RLF are already working with a bank; however, the bank won’t cover the full cost. If a bank won’t cover your full project cost, the RLF can step in to fill the gap as a funder of last resort — giving you the funding you need to move forward.

To qualify for this loan, your business must plan to create or keep jobs, and at least half of those jobs must be filled by low-to-moderate income (LMI) individuals, based on income ranges set by the government. We’ll help you understand what that means and whether your business qualifies.

The RLF is funded by the Ohio Department of Development using money from the federal government under Community Development Block Grant (CDBG) program and is managed locally by the Tiffin-Seneca Economic Partnership (TSEP). Interest paid as part of your loan remains in the local RLF and helps fund other projects in Seneca County.

What Can the Loan Be Used For?

  • Buying land or buildings

  • Renovating or expanding a space for your business

  • Purchasing large equipment or machinery

  • Other big costs that help your business grow (not everyday expenses)

Note: The project must happen in Seneca County, and you cannot start work or spend money until your loan is fully approved. The full approval process typically takes 2 to 3 months.

How Does the Process Work?

The loan process includes several steps, with reviews at both the local and state levels. Here’s what to expect from start to finish:

  1. You fill out an Expression of Interest Form here so we can see if your project is a good match.

  2. Once you complete the Expression of Interest Form, Adam Gillmor from our team will reach out to you directly to talk through your project and explain the next steps.

  3. You submit a pre-application that can be downloaded here with your project information, costs, and job creation plans.

  4. The RLF Loan Committee reviews the pre-application to make sure it meets program rules.

  5. The Seneca County Commissioners also review and approve the project.

  6. We complete an environmental review, which is required by federal law.

  7. We submit the full application to the state for final approval.

  8. If approved, you sign loan documents and the project can begin.

  9. You complete the project — which may include construction, purchasing, and hiring.

  10. After your loan is approved, we’ll check in occasionally to make sure the project is moving forward and the jobs are being created as planned.

Who’s Involved?

The RLF is guided by a local board made up of professionals in banking, law, economic development, and small business. These are the people who review loan requests and help make decisions:

  • Chair: David Shelton — Vice President, US Bank
  • Administrator: Adam Gillmor — Economic & Workforce Development Manager, Tiffin-Seneca Economic Partnership
  • Barbara Dibble — Assistant Prosecutor, City of Fostoria
  • Nikki Distel — Development Director, United Way of North Central Ohio
  • Andy Faber — Professor, Tiffin University
  • Andy Lucius — Financial Advisor, Tiell Financial Group
  • Bryce Riggs — President & CEO, Seneca Regional Chamber of Commerce & Tiffin-Seneca Economic Partnership
  • Renee Smith — President, Fostoria Economic Development
  • Chip VanDette — Chief Lending Officer, Croghan Colonial Bank

Ready to Get Started?

If you think this program might be right for your business, fill out the Expression of Interest Form. Adam Gillmor will reach out to talk more about your project and help you decide if it’s a good fit.

Have Questions?

Not sure if your project qualifies? Want help figuring out if the RLF is right for you? We’re happy to talk it through.

Contact:
Adam Gillmor
Economic & Workforce Development Manager
Tiffin-Seneca Economic Partnership
Phone: 419-447-3831
Email: gillmor@tiffinseneca.org

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