MCEDA Loans

The Miami County Economic Development Authority , formerly The Grissom Redevelopment Authority, is authorized by statute, to make loans. However, the Miami County Economic Development Authority, being an entity created by county government, does not wish to compete with local financial institutions. Therefore, the Miami County Economic Development Authority will only make loans in extraordinary or unusual circumstances.

The Miami County Economic Development Authority reserves the right to refuse any loan request and any renewal or extension of any existing loan. All loan applicants must agree to authorize the Miami County Economic Development Authority to obtain personal background and credit information. The Miami County Economic Development Authority may decline any loan request, without explanation or cause.

All loan applications must be signed and complete. All loan applications must be accompanied by all documents requested or required by MCEDA . No loan will be made unless it meets three out of the following five criteria:

  • The applicant must be providing goods or services related to redevelopment goals
  • The applicant must be a "start-up" or new business entity
  • The applicant must demonstrate a bonafide need for short term, gap financing
  • Applicant must demonstrate the ability to repay said loan
  • Applicant must demonstrate that it will create new jobs and/or new business investment

In the event a loan application is approved, the term of the loan may not exceed five years; the loan should be secured by collateral or personal guaranty; and the amount of the loan may be limited by the amount budgeted annually by the MCEDA for such loans.

The Miami County Economic Development Authority reserves the right to modify, alter, or repeal this Loan Policy.

Please contact the Miami County Economic Development Authority for further details and to obtain an application.