Town Center Loan Program

Securing capital necessary to start a new business or expand an existing facility in today's economic climate has become increasingly difficult. In response to that need the City has established a Town Center Loan Program (TCLP) through the Community Capital Development Corp (CCDC). 

  • The program is designed to stimulate job creation and revitalize under-utilized properties within a targeted area. 

For more information call 614-277-3004 or email

Application Process

  • Applicants may contact the City, Community Capital Development Corp (CCDC), or one of the TCLP partner banks to discuss the project
  • Applicants submit Application Checklist items to CCDC
  • CCDC underwrites the loan request and reviews the recommendation with the Loan Review Committee (LRC)
  • CCDC prepares a modified credit memo with LRC recommendations for City Council
  • If approved by City Council, the commitment letter is issued by CCDC on behalf of the City. If the application is denied by City Council there will be no appeal process
  • CCDC prepares the closing documents for review by the City and submits a request for loan funds
  • Once the loan documents are approved and funds are transferred to CCDC, a closing date is set, the loan is closed by CCDC, and funds are disbursed to the Borrower. Funds may be disbursed in increments based on a number of factors such as performance, construction schedules, etc.
  • CCDC sets up a payment process through the Automated Clearing House (ACH)
  • CCDC sets up a servicing file and begins servicing the loan

Application Checklist

  • Grove City Town Center Loan Application (PDF)
  • History and description of the business
  • Specific use of loan proceeds and source of funds
  • Written cost estimates
  • Three years of financial statements from the business (balance sheet and income statement)
  • Current financial statements (less than 90 days old)
  • Three years of business tax returns
  • Three years of personal tax returns
  • Two years of projected income statements
  • Personal financial statements and tax returns of owners with 20% or greater ownership
  • Bank commitment letter (if applicable)
  • Qualified appraisal (if applicable)
  • Environmental Questionnaire and Formal Assessment, if required
  • Resumes of key management
  • Lease or purchase agreements
  • A formal business plan is not required but is preferred. In the absence of a formal business plan, a series of questions are developed to provide sufficient background on the business, its owners, financial stability, and prospects
  • Information or other personal assets of principal officers may be requested

Direct loan to for-profit, non-profit, or not-for-profit businesses.