The Ohio Enterprise Bond Fund




The Ohio Enterprise Bond Fund (OEBF)

The Ohio Enterprise Bond Fund (OEBF) was created in 1988 in conjunction with the Ohio Department of Development (ODOD) in order to provide a source of low cost borrowing for Ohio businesses.  Since that time, OEBF has issued project bonds totaling over $500,140,000. These funds can purchase land, buildings and equipment that will create and retain jobs and further promote economic development throughout the State of Ohio.

How does the Ohio Enterprise Bond Fund work?

Once a borrower has been approved by ODOD, we issue OEBF bonds and the bond proceeds are lent to the borrower. Following the bond issuance, the borrower is responsible for repaying principal and interest on their loan.

Who Qualifies?

Eligible borrowers include corporations, partnerships, sole proprietorships, limited liability companies or limited liability partnerships engaged in the creation or retention of jobs in industrial, manufacturing, commerce, research and development or distribution ventures.

Eligible Projects

Eligible projects include, but are not limited to:

  • Purchase of land and existing buildings
  • New building construction or renovation
  • Purchase of machinery and equipment
  • Long-term leasehold improvements
  • Public improvement projects that directly benefit business development


Available Funding

The OEBF may provide financing up to 90% of the total eligible project costs that are directly related to the fixed-asset purchase. The minimum borrowing amount is $1.5 million and the maximum amount is $10 million.

Benefits of using the OEBF Program
 

  • Borrowers can utilize OEBF’s “AA-” S&P rating to achieve a low cost of funds.
  • Borrowers have access to the national capital markets without providing any further credit enhancement.
  • Pre-established legal documents and issuance process provides for an efficient and streamlined closing process.
  • Borrowers may receive favorable loan terms tailored to their needs such as fixed interest rates, longer repayment terms and fewer financial restrictions and requirements.


To request more information on the Ohio Enterprise Bond Fund please call 614-466-7752.