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MVEDC to Administer SBA 504 loans in 3 Pa. Counties
LIBERTY Township, Ohio -- The Mahoning Valley Economic Development Corporation is now offering U.S. Small Business Administration section 504 loans to businesses located in Beaver, Lawrence and Mercer counties in Pennsylvania.Small businesses can access long-term, fixed-rate financing through MVEDC for the purchase of real estate, construction of buildings and equipment acquisition. The SBA loan program, known as 504, offers borrowers a low down payment, competitive fixed interest rates and a long term.Since 1981, MVEDC has assisted 123 companies to obtain $34 million through the SBA program. These companies are located throughout the Mahoning Valley, as well as in Ashtabula, Columbiana and Geauga counties."Offering businesses in Beaver, Lawrence and Mercer counties the SBA 504 loan program will encourage further economic development in the local economic area," said Donald L. French, MVEDC executive director.MVEDC is celebrating its 25th anniversary of economic development. Through its various loan and economic development programs, the agency has directly assisted more than 1,300 companies that collectively have invested more than $650 million and created and preserved 13,000 jobs.For more information, contact MVEDC at 330-759-3668."