5 Toledo businesses fail to repay the city their loans [Video]

TOLEDO, Ohio — Five businesses – three restaurants, one that never materialized and a clothing store once located in the Uptown district – collectively owe the city of Toledo more than $210,000. And after repeated requests for comment, WTOL 11 has learned that at least one of these businesses is facing legal action as the city seeks to recoup this money owed.  

WTOL 11 made a public records request with the City of Toledo’s Law Department. We received documentation showing all five in question were part of the city’s Enterprise Development Loan (EDL) program. 

The EDL program is “intended to encourage private lenders to provide credit to firms that have difficulty securing reasonable financing that promotes growth while preserving working capital,” according to the City of Toledo’s website. The description goes on to read, “the EDL …