Franklin County Job Creation Loan Program

Grow your business by attracting talented staff

Would expanding your team help boost your business' revenue and growth? Franklin County and ECDI want to help you make it happen!

The Franklin County Loan fund was established to help entrepreneurs create jobs and spur growth in the region. We're offering small business loans at only 1% interest on the first $20,000 – and competitive rates up to $500,000.

Address of business or applying business owner must be in Franklin County, outside of Columbus city limits. (Learn more, and determine if your business qualifies.)

If access to this highly affordable loan funding would help you grow your business, fill out a loan inquiry form today:

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Funding made possible by:

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About ​Franklin County Job Creation Loans

The Basics

The Franklin County loan program was designed to incentivize and support sustainable job growth in region.

The Details

Loan details 

Low interest rate of 1% on qualifying loans, up to $20,000

  • Need more? Borrowers can request a total of up to $500,000. Competitive interest rates offered for remaining amount above $20,000.

Loan can be used for

Any purpose that will facilitate creation of one or more jobs for low- to moderate-income*(LMI) employees in Franklin County (outside of the city of Columbus):

  • Business expansion – including equipment, inventory, etc.

  • Working capital – including payroll, employee training, etc.

  • Attracting new employees – including competitive wages, benefits, etc.

  • New business start-up – includes business founder as one employee for job creation measures (if founder qualifies as LMI)

The Requirements

Businesses must:

  • Create at least one new job for a LMI individual (business owner counts as one employee for new businesses, if owner meets LMI measures)

  • EITHER be located in OR be owned by a person residing in Franklin County, outside the city limits of Columbus

  • Be a for-profit business

  • Meet the SBA's definition of a small business (typically, fewer than 1,500 employees and less than $38.5 million in annual revenue)

  • Be ineligible for other traditional financing options

  • Invest some of your own time and money into the business (required equity depending on the size of the total loan requested) 

  • Be able to show an ability to repay the loan

  • Not have previously defaulted on any government-guaranteed loan

The Benefits

  • Great for businesses that are just starting up, or that need funds to grow

  • Ideal if having funding to grow your staff would enable you to grow your business revenue

  • Attainable for business owners with low to average credit or ones who have been denied traditional financing

  • Ideal for women-owned, minority-owned or veteran-owned businesses

  • Can be used for most valid business needs

  • Low interest rates

Get started by simply clicking this button:

 
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