Economic Development

YNDC to Offer Business Startup Classes, Small Loans

YOUNGSTOWN, Ohio — Youngstown Neighborhood Development Corp. will offer a free, intensive business-planning course geared to assist those starting all types of small businesses in the city.

Classes will be held at Iron Roots Urban Farm, in the YNDC Demonstration Kitchen at 822 Billingsgate Ave.,  from 6 to 9 p.m. beginning March 17 and continuing through April 28. Participants will leave the class with a business plan outline as well as resources to refine business plans and apply for financing if necessary, YNDC says. Financial and credit counseling is also available and “highly recommended.”

While the classes are free, participants should commit to attending the entire series. Prospective students are asked to contact YNDC to fill out an application.

In addition to classes, YNDC has loan funds available for startup or existing businesses with five or fewer full-time employees (one of whom is the owner). Loans may range from $1,000 up to $10,000 with favorable and flexible repayment terms.

The owner of the proposed business owner must reside in Youngstown and the business must operate in the city. There are income guidelines for this program, and the business owner must complete credit counseling before applying for a loan.

The mission of the program is to promote self-employment, small-scale business creation and economic independence in city neighborhoods.

Program partners include The Ohio State University Extension-Mahoning County, Ohio Small Business Development Center at Youngstown State University, the city of Youngstown and Mahoning Valley Economic Development Corporation. Funding support comes from the Ohio Community Development Corporation Association.

For more information, Liberty Merrill at YNDC by phone at 330 480 0423 or via email. A one-on-one meeting can be arranged to discuss YNDC programs and services and details of both business classes and the loan program, and to fill out application materials.

SOURCE: Youngstown Neighborhood Development Corp.

Published by The Business Journal, Youngstown, Ohio.