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SUCCESS STORY:

Coyne Printing, Inc.Coyne Printing, Inc., established in 1974, is a full-service commercial printing and finishing operation located in Mount Vernon, Ohio.

In recent years the company has focused on increasing its "graphic finisher" capabilities that includes die cutting, mounting, laminating, folding, padding, eyeletting, grommeting, and shrink wrapping. Coyne’s customers are commercial printers whose end users include Wendy’s, Bath & Body Works, the Limited, Bob Evans, Kroger, Sears, and Donatos.

Coyne Printing utilized the Ohio 166 program to purchase a die-cutting press, allowing them to pursue large-sized work such as life-sized people cutouts used in point-of-sale retail displays.

 

Program Details:


State of Ohio 166 Program:

Loan Type: Direct loan to business
Eligible
Business:
Primarily manufacturing and distribution businesses
Use: Land, building, and/or equipment
Maximum: $350,000 or 40 percent of total project cost
Term: Same as bank term; maximum term 15 years
Rates: Two thirds of prime, fixed
Equity: 10% cash equity
Job Creation: One job for each $35,000 of 166 financing
Bank Loan: 50% of project cost; fixed or floating rate
Area: Anywhere in Ohio
Fees: Application fee: $500
Processing: 1.5% (at closing)
Annual: .25% servicing fee
Closing: $500 - $2,000 

Financing for Growing, Small Manufacturing and Distribution Businesses

CCDC's long-term, fixed-rate loans, with their 10 percent down payments, require less cash investment than traditional bank loans. This lets you preserve your capital for day-to-day operations and future investments.

These loans are available primarily to existing businesses and for the acquisition of equipment and/or real estate, can be made in amounts up to $350,000, and can lend up to 7 years on equipment and 15 years on real estate.

Important Links:


Central Ohio:  614/645-6171  |  Dayton: 937/665-0581  |  State of Ohio:  888/756-CCDC (2232)  |  © 2005 CCDC