Central Ohio Bond Fund

Eligible Projects

Financing from the program can be used to:

  • Fund public infrastructure
  • Acquire and/or renovate existing buildings
  • Construct new buildings

The Finance Authority typically looks for borrowers who are owner-users with an operating history of at least three to five years. Also, the asset being financed should be significant to the company’s overall operation.

Why Apply?

The Bond Fund comes with a couple key advantages that organizations should consider:

  • LONGER LOAN TERMS: Terms can extend up to 30 years based upon useful life of the assets financed, such as public infrastructure. Industrial and commercial loans are expected to have final maturities of no more than 15 to 20 years
  • FIXED INTEREST RATES: The interest rate will be fixed for the term of the issue based upon tax-exempt or taxable bond rates at the time the bonds are sold

Bond Fund Facts

Here are some of the factors potential clients should consider before applying:

  • Certain qualified projects can be financed with tax-exempt bonds. These can include capital investments from the private, non-profit and public sectors. All other projects will be financed with taxable bonds.
  • Generally, the Fund will not finance investment real estate, such as hotels, restaurants, multi-tenant office buildings, shopping centers or special purpose buildings (except for public improvements related to such projects). The Fund will also not finance working capital or start-up companies

 

 

  • The average principal amount of each Bond issued is around $3,000,000, and projects generally range between $2,000,000 and $6,000,000
  • These considerations are part of our underwriting criteria, which takes into consideration all aspects of each project. If you have additional questions, please contact us for more information about our underwriting criteria