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Whitehall Works - City of Whitehall (OH) EPISODE 7, 4th November 2020
Financing
00:00:00 00:21:32

Financing

When we say financing, there are a lot of different direction to go.

As Economic Development professionals, there are various ways that we may have a hand in financing, depending on the type of organization you are.

From the local government perspective, our main focus is helping our businesses with finding resources to bridge financing gaps or assist in ventures where social and economic benefits outweigh the risk of financing.

In this episode, we focus on how we assist businesses with finding resources to bridge their financing gaps.

Depending if you are a local government or non-profit economic development organization, you may offer programs assisting businesses in their financing gaps in a number of ways.

When it comes to local financing assistance, it's typically used in conjunction with private sector funding that has been secured by the company independently.

Private sector lending institutions provide debt financing and equity financing.

We cover the number of reasons businesses need financing. It's not limited to just starting a business.

There are a number of resources on financing through local, state, and federal programs.

The City of Whitehall is working on financing. One specific example is the newly developed Reboot Whitehall Program.

Our guest, Kevin Goehring is our guest on this episode. He is a loan officer at the Ohio Statewide Development Corporation, a local partner that helps small businesses fill that financial gap.

The OSDC's mission is "to promote business investment and job creation by providing SBA 504 and Ohio 166 loans to small businesses for buildings and equipment. Sometimes that means lending directly to businesses, other times it means partnering with their existing lender. But the end result is the same: we help small businesses across Ohio secure the financing they need to grow."

We cover what is the SBA, when might an SBA loan be a good fit for a business, basic eligibilities, and much more.

Join Jenna and Zach monthly as they have representatives from Franklin County (OH), as well as special guests from government and other organizations, to talk about different topics that are important throughout the Central Ohio region. 

That's part of the reason we named this podcast Whitehall Works. The City of Whitehall (OH) is working with a lot of different partners on transportation, affordable housing and workforce development. These are just some of the important topics that not only the City of Whitehall (OH) is working on, but everyone needs to work on.

www.whitehall-oh.us

www.whitehallmeansbusiness.com