What is "Gap Financing"?

In cooperation with your commercial lender, MDC helps you fill the "gap" between what your lender can lend and the total cost of your project. For example, maybe your bank will lend you 60% of your total need. With your contribution of 10% equity, MDC may be able to finance the gap, or remaining 30%. 

 

 

What can MDC do for you?

MDC can provide financing assistance for business development and community development projects in Morrow County. Our financing products are designed to fill the gap that often exists between traditional bank financing and your equity. 

 

MDC believes that gap financing is essential for the survival and growth of our local businesses, and is the primary means for MDC to promote and assist the development of Morrow County and its economy. Here are just a few of the projects that can be funded through MDC. 

 

• Purchase and development of land, easements, rights-of-way, buildings, facilities, and materials. 

• Purchase of equipment, supplies, leasehold improvements and machinery. 

• Pollution control and abatement. 

• Transportation services. 

• Startup operating costs and permanent working capital. 

• Debt refinance.

 

 

Board Members

• Jerry Healy

• Karen Pettigrew

• John Moffit

• Lisa Mittelsdorf

• Shane Lazinka