Grow Your Business With a Lower-Rate Loan

If your business qualifies, Buckeye Business Advantage could help you get a lower interest rate on your new First Federal Lakewood business loan.

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Program Highlights

  • Reduced interest rate on a qualifying business loan
  • Each qualifying entity can borrow up to $1,000,000, and a total of $5,000,000 in Program loans can be borrowed per sponsor/company owner under five separate LLCs
  • Discounted rate available for up to two years
  • Available for term loans and owner-occupied real estate loans
  • No Program fees charged to borrowers
  • Currently Available: Reapplication available after each two-year term

Eligibility Requirements

To qualify for Buckeye Business Advantage, your business must:

  • Be headquartered or domiciled in Ohio
  • Maintain at least 51% of its offices and operating facilities in Ohio
  • Employ fewer than 150 employees, with at least 51% residing in Ohio
  • Be organized for profit
  • Have no outstanding tax liabilities
  • Use the loan exclusively in Ohio to create or preserve jobs or support business growth

Franchise businesses may also qualify. Additional certification requirements may apply.

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Frequently Asked Questions

No. There are no Buckeye Business Advantage program fees charged to borrowers. Standard loan fees from First Federal Lakewood may still apply.

The Ohio Treasurer’s office sets program rates each quarter. If your application is approved, the discount is applied to your qualifying loan and remains fixed for the full two-year program term.

Yes. After your two-year term ends, your business may be eligible to reapply through First Federal Lakewood.

Term loans and owner-occupied real estate loans are eligible. Credit cards, investment real estate, and working capital lines of credit are not eligible.

Each qualifying entity can borrow up to $1,000,000, and a total of $5,000,000 in Program loans can be borrowed per sponsor/company owner under 5 separate LLCs.

Questions?

Have questions about Buckeye Business Advantage? Our team is here to help you understand the process, review eligibility, and explore whether this program is a fit for your business.

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