Hamilton County Announces New Down Payment Match Program to Support Small Business Ownership
Hamilton County Commissioners officially launch the Hamilton County Down Payment Match Program, a transformative initiative designed to boost commercial property ownership among small businesses. This new program offers financial support to small business owners who qualify for an SBA 504 Loan but struggle with down payment requirements. Eligible businesses can receive matching assistance of up to $50,000 to help overcome this common obstacle.
Eligibility for the Hamilton County Down Payment Match Program includes:
- First-time, owner-occupied, commercial property purchasers
- Businesses in operation for at least 24 months
- Property must be located in Hamilton County
- Commercial real estate property valued over $500,000
Commission President Alicia Reece secured funding for the program in the budget with the support of her colleagues on the Commission with the goal of expanding access to commercial property ownership: "The Hamilton County Down Payment Match Program helps turn business owners into commercial real estate investors. By addressing one of the most common barriers to property ownership, we are empowering small business owners to invest in their futures and make an impact to our community’s economy."
Commissioner Denise Driehaus highlighted the program’s impact: "This program is designed to provide the critical support needed to help small businesses thrive. By making it easier for them to overcome financial hurdles and secure their own commercial properties, we are fostering a stronger and more resilient economic landscape in Hamilton County."
In addition to offering financial assistance, the program aims to stimulate long-term economic growth by encouraging small businesses to invest in their own properties, leading to job creation and increased local investment.
Commissioner Stephanie Summerow Dumas praised the program's potential to support diverse business owners: "This initiative is a testament to our dedication to creating equitable opportunities for all. By providing down payment match assistance, we are not only helping small businesses succeed but also promoting economic inclusion within our community."
"The Hamilton County Down Payment Match Program is a crucial step in helping small businesses secure ownership of their commercial spaces. By reducing upfront costs, we're supporting local entrepreneurs and strengthening our community's economic foundation," said Patrick Longo, President & CEO of Alloy Development Co.
For more information on eligibility requirements and the application process, please visit the Hamilton County official website or contact the Hamilton County Economic Development Office.
Contact: Hamilton County Economic Development Office
[email protected], alloydev.org
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