Lake County program lends $3.6 million to 10 Northeast Ohio businesses
The Lake County Small Business Assistance Program recently completed $3 million in loans to 10 Northeast Ohio businesses, News-Herald reports. A nonprofit corporation managed by the Lake County Port Authority, the program is one of 250 development companies in operation that are certified by the U.S. Small Business Administration to provide long-term SBA 504 loans at a fixed rate. These loans are intended to promote job growth and economic development by financing up to 90 percent of the small businesses's project, the article said. For more, including a list of the 10 businesses, read the full story.
