Toledo, OH – July 28, 2010 – The Toledo-Lucas County Port Authority recently provided WeFulFillIT.com a U.S. Small Business Administration 504 Loan in the amount of $369,000 to purchase a new building and equipment. This company has 12 employees, five of which are new positions and will be creating at least five more new positions within the next year.

The Port Authority will join employees of WeFulFillIT.com for a grand opening event.

WeFulFillIT.com Ribbon Cutting and Grand Opening Event
Thursday July 29, 2010

Wrap n' Ship Facility
5055 Enterprise Blvd. - Toledo, Ohio
Ribbon Cutting – Noon

The Grand Opening event will be held from noon to 6 p.m. with a barbeque lunch provided from noon to 2 p.m. The #11 FedEx NASCAR will be on display for photo opportunities and will be providing prizes and NASCAR memorabilia for purchase. WeFulFillIt.com will be awarding prizes to those in attendance including two 22" widescreen LCD HDTV's and Igloo Cool Fusion 40 Icy Tune coolers with built-in speakers.

The Toledo-Lucas County Port Authority administers the U.S. Small Business Administration (SBA) 504 Loan Program throughout Ohio. The SBA 504 Loan Program provides fixed asset funding to for-profit businesses with a net worth not exceeding $8 million and net after-tax profit of not more than $3 million. A typical transaction consists of 50% bank financing; 40% SBA 504 Loan and 10% equity. The SBA 504 Loan Program takes a second collateral position. The funding can include up to 40% of project costs for any for-profit business. The maximum loan amount is typically $1.5 million. Loans are also available for up to $2 million if the project meets public policy goals or up to $4 million for manufacturers. Loan terms are either 10 or 20 years and only a 10% equity injection into the project is required. Long-term fixed interest rates are available.

It is the mission of the Toledo-Lucas County Port Authority to continuously leverage our strategic geographic position, resources and economic development proficiency to provide increased business opportunities—built upon and around our innovative transportation and logistics expertise—while promoting our community and region within the global marketplace. We will accomplish this through unmatched speed and efficiency of service, collaborative and strategic partnerships, community stewardship and the continued generation and execution of new ideas and innovations.