Who May Borrow?

A business that is a sole proprietorship, partnership or corporation may apply for financing. The business should be a for-profit business, although non-profit corporations with assets will be considered with exceptional circumstances.



How May the Loans Be Used?

Loan funds may be used to finance a wide variety of business needs, including acquisition of real estate, machinery, equipment and working capital.



What Are the Benefits of 503 Financing?

– Lower than current interest rates

– Low application fees

– Reasonable loan closing costs

– Simple application process

– Approved loans can usually close within 30 days of loan approval

– The 503 Corporation can subordinate collateral position to a bank participating in the project financing

Get in Touch

Contact the Ashtabula County 503 Corporation using the info below or our contact form.

Find us at the office

Ashtabula County 503 Corporation
The Economic Development Center
35 West Jefferson St.
Jefferson, OH 44047

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