Areas Served: Columbiana County
CAA administers the CDBG Microenterprise program which provides loan funds to those interested in starting or expanding a small business in Columbiana County, Ohio.
Loan Amount – The minimum loan amount is $2,000 – The maximum loan amount from the Microenterprise Program and County Revolving Loan Fund is $15,000 (Contingent upon funding availability) Repayment Terms – Payments must be made on a monthly basis – You may have up to five years to repay the loan Interest Rates – The interest rate on the loan is fixed for the period of the loan.
– Rates will normally not exceed Prime Rate and will be set by the loan committee.
Use of Funds The following are examples of eligible uses of funds: – To purchase Machinery, equipment, or supplies – Assist with the purchase of land or building – To fund rehab of an existing building – Working capital for start up of a new business Ineligible uses include: – Involve land banking or construction for speculative purposes – Historically uncompetitive or unsuccessful ventures – Businesses that do not conform to civil rights legislation and have been or likely to be involved in unfair labor practices
Contact InformationCommunity Action Agency of Columbiana County
Address: 7880 Lincole Place
City: Lisbon
State: Ohio
Website:
http://www.caaofcc.org/microenterprise.htm
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