Rep. Clyde Announces State Loan For Kent-area Small Business
Funding will allow local company to expand and create jobs in Portage County
October 19, 2015
[ Kathleen Clyde Home | Kathleen Clyde Press ]

State Rep. Kathleen Clyde (D-Kent) today announced $460,000 in state loan funding to finance the purchase of land and to construct facilities for Capstone Equity Partners in Kent, Ohio.

“Helping small businesses create and expand jobs helps bolster the long term health of industries here in Portage County,” said Rep. Clyde. “Allocating state loan dollars to small businesses is a critical support tool for driving our economy forward.” 

Funding for this project comes from a Development Service Agency loan program, established to provide low interest loans for land and building acquisition, construction, expansion or renovation and equipment purchases for eligible businesses. The program is administered through local economic development agencies. 

Capstone Equity Partners plans to purchase 1.235 acres of land on State Route 59 in Kent to construct a new 7,200 square foot headquarters. Capstone, a distributor of industrial and commercial generators, plans to retain 20 jobs and create 10 additional jobs as a result of this state loan. 

Rep. Clyde represents the 75th Ohio House District, serving Kent, Ravenna, Streetsboro, and central and southern Portage County.

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