Growth
Jobs increased by 1,047 or 9.6 percent in Van Wert County over the last five years, beating the national growth rate. Continued growth is forecasted for the next five years.
Van Wert Area Economic Development supports local businesses through the Revolving Loan Fund
From startups to conventionally established companies, VWAEDC provides customized financial assistance to businesses in Van Wert County through its Revolving Loan Fund. The RLF supplies gap funding for new or existing companies pursuing land or building acquisition, construction, equipment purchases, and working capital based on job retention and creation. Borrowers may seek up to 50% of the total project cost, a maximum $35,000 per job created. The interest rate is fixed at 2%.
Creation or retention of jobs is a loan requirement, as is a commitment of new cash equity by the borrower. Terms of the loan are 5 to 7 years for the purchase of machinery and equipment and 15 to 20 years for real estate acquisition.