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Business Startup/Expansion Guide |
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CITY OF FOSTORIA
FOSTORIA ECONOMIC DEVELOPMENT CORPORATION
FOSTORIA AREA CHAMBER OF COMMERCE
BUSINESS STARTUP/EXPANSION GUIDE
We’re glad you are thinking of opening a business or expanding your present business in Fostoria. You will find Fostoria is a great place to do business. Please use this guide to help cover all aspects of opening/expanding your business. The guide covers regulatory agencies, support services and business financing. If you have any questions please don’t hesitate to contact the Fostoria Economic Development Corp. (FEDC) at (419) 435-7789. www.fostoriaed.org FEDC can also assist with locating property and buildings. We’ll be happy to work with you.
START UP BASICS
* Business Plans: One of the first things you should have is a good business plan. If you don’t already have one, you will discover that a well written business plan will keep you on track while building your business and will be an important piece when working to obtain financing. The Small Business Development Center (SBDC) offers free assistance in preparing a business plan. Contact Mr. Bill Auxter toll free at (800) 826-2431. The SBDC also provides a wealth of other business startup and expansion information. The Fostoria Area Chamber of Commerce (419) 435-0486 hosts’ quarterly free business startup seminars quarterly conducted by the SBDC. Call the Chamber for more upcoming seminar dates or visit the Chamber’s website calendar at www.fostoriachamber.org
Your accountant can also be a valuable resource in creating your business plan.
Free online business plan tools are offered by Service Corps of Retired Executives (SCORE) www.score.org, under “business toolbox.” The Wall Street Journal also offers a free business plan tool www.StartupJournal.com
* State of Ohio requirements: Information with the registrations required by the State of Ohio can be obtained at http://www.odod.state.oh.us/onestop/index.cfm
REGULATIONS AND PERMITS
* City of Fostoria: If you are planning on building or remodeling in the City of Fostoria you will be required to submit a detailed site plan to the City Planning Commission for review. This process takes approximately one month. Once the Planning Commission approves the site plan a permit is issued by the zoning department need a permit from the City of Fostoria’s Zoning Department with your permit number. This permit number is needed by the Wood County Building Inspector (419) 354-9190, for the review of the construction plans for your building. Wood County Building Inspection covers all of Fostoria. You will also want to make sure the site you have chosen to locate your business meets the local zoning code. Taking care of these matters early can save you time, aggravation and money. Contact the City of Fostoria Zoning Office (419) 435-8243 or (419) 435-9775 for applications and information.
* Commercial/industrial buildings should also be inspected by the Fostoria Fire Department (419) 435-3206.
* Businesses planning on new construction or exterior renovations on buildings in the downtown area need to make sure their plans conform to the downtown building code. Contact City Hall (419) 435-8282 for more information
* Businesses hiring in Fostoria, including contractors need to register with the City of Fostoria Income Tax Office (419) 435-6449 for more information.
* Utilities may have to be connected or in some cases disconnected for construction and remodeling. Fostoria is served by three electric utilities. The Fostoria Chamber of Commerce or the Fostoria Engineer can assist you in locating the correct utility.
American Electric Power 877-237-2886.
AEP Underground line locator 800-362-2764
North Central Electric Cooperative 800-445-4840
North Central Electric Cooperative 800-426-3072
Columbia Gas New Construction/Conversions 800-440-6111.
Columbia Gas Call Before You Dig 1-800-362-2764
FINANCING
A good place to start is to talk to your banker. Banks offer commercial loans at attractive rates. Your bank will also have loan officers that specialize in business loans.
Fifth Third Bank (419) 435-1825
First Federal Bank (419) 436-1310
Key Bank (419) 435-8105
Old Fort Bank (419) 436-1425
Sky Bank (419) 435-2410
A variety of low interest financing programs exist to assist businesses in starting up or expanding. FEDC can help you in working through these programs and selecting the one that is right for your business.
* WSOS: www.wsos.org Offers 3 types of small business loans to companies in Seneca and Wood Counties. Loans generally are up to $25,000. Contact Angela McConnell 1-800- 775-9767
* Ohio Link Deposit: This program provides low interest loans for small business startups and expansions. Funds are tied to job creation. Contact Public Affairs Office, Treasurer of State (614) 466-8855 or 1-800-228-1102 (in Ohio).
* Fostoria Revolving Loan Fund: Offers low interest loans for gap financing to Fostoria area businesses primarily for industrial expansion. Funds are tied to job creation/retention. Contact FEDC at 419-435-7789.
* Ohio Department of Development offers a variety of loan programs for business development. http://www.odod.state.oh.us/EDD/Loans_Grants.htm FEDC will assist you in accessing these programs.
* United States Department of Agriculture www.rurdev.usda.gov/oh offers a loan guarantee program for businesses in rural communities. This program can make it easier to obtain conventional financing. FEDC can assist you with the USDA program or you may contact them directly at (614) 255-2500.
* Seneca Co. Revolving Loan Fund: Contact: 419-419-447-4696 For Seneca Co. residents and businesses locating in Seneca Co. only.
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