Areas Served: Ashtabula, Geauga, Portage, Trumbull, Mahoning, Columbiana, Mercer and Lawrence county
Mahoning Valley Economic Development Corporation offers several loan programs for businesses in Mahoning or Trumbull Counties in Ohio.
Revolving Loan Funds Eligible Businesses – Industrial, commercial, service, distribution.
Maximum Loan – Up to 45 percent of project cost or $150,000. Interest Rate – Fixed and based on prime rate.
Loan term – Up to 10 years for equipment – Up to 15 years for real estate Job Requirement – Typically one job for each $15,000 of RLF funds.
166 Small Projects Fund Eligible Businesses – Primarily manufacturing, wholesale, industrial, distribution.
Maximum Loan – Up to 45 percent of project cost or $350,000. Interest Rate – Fixed at 2/3 of prime rate, but no less than 4 percent.
Loan term – Up to 10 years for equipment – Up to 12 years for real estate Job Requirement – One job for each $35,000 of “166” funds
Contact InformationMahoning Valley Economic Development Corporation
Address: 4319 Belmont Avenue
City: Youngstown
State: Ohio
Website:
http://www.growbizfund.com/
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