YNDC to Offer Equipment Loans for Small City Businesses

Tuesday, September 2, 2014

YNDC is pleased to announce the availability of equipment loans for startup or existing businesses with 5 or fewer full-time employees (one of whom is the owner).

The business owner must reside in Youngstown and the business must operate in the city. The mission of the program is to promote self-employment, small-scale business creation and economic independence in city neighborhoods. Loans may range from $1,000 to a maximum of $10,000 with favorable and flexible repayment terms (2% annual interest). Some income limits for either business owners or hires will apply during the application process (please see application for details). Loan application materials can be obtained from the YNDC office, located at 820 Canfield Road on the south side of Youngstown. Electronic copies can be obtained by emailing Liberty Merrill, YNDC Land Reuse Director, at lmerrill@yndc.org.

A limited amount of loan funds are available. Loan applications for 2014 are due to the YNDC office by 5pm on or before October 15th, 2014, and will be approved in early November. Please contact Liberty Merrill at YNDC by phone at (330)480-0423 or via email at lmerrill@yndc.org with any questions. A one-on-one meeting can be arranged to discuss YNDC programs and services and details of the loan program.