YNDC Expands Small Business Loan Program

YOUNGSTOWN, Ohio – The Youngstown Neighborhood Development Corp. is offering loans to small-business owners in Mahoning County to help them expand their companies.

Loans are available to business owners who both live and work in Mahoning County. Funding for the program comes from the Ohio Community Development Corp. Association and the Burton D. Morgan Foundation.

YNDC’s loan program has been in place since 2014. “However, we are now accepting applications from all of Mahoning County, not just the city of Youngstown,” said Liberty Merrill, YNDC’s land reuse director.

Loan amounts range from $1,000 to $10,000 and are available with a 2% interest rate through the end of the year. One-on-one meetings with YNDC financial counselors and financial classes are also available as part of the programs.

“This loan program was started to help entrepreneurs who may not have access to credit through traditional banks start or expand their business,” YNDC said in a release.

For more information, contact Merrill at 330 480 0423 or lmerrill@yndc.org.

Copyright 2024 The Business Journal, Youngstown, Ohio.