Since 1983, MEACO (Mentor Economic Assistance Corporation) has been helping businesses with long term, fixed rate financing. MEACO was originally established as a tool to stimulate small business growth in Mentor, Ohio. Today, MEACO assists small businesses throughout the tri-county area. Numerous businesses, as well as local communities, have benefited from economic expansion projects financed through MEACO. Since its inception, MEACO has helped new and existing businesses obtain financing for building construction, expansions or new equipment purchases. This work has resulted in the retention and creation of more than 1,500 jobs.
SBA 504 Loan Program
- Fixed rate, SBA-backed loans
- Financing for expansion or renovation
- Financing for new equipment
- Financing for acquiring land and building
- 10 or 20 year loan terms
- Low down payments -- as little as 10%!
City Of Mentor Small Business Loan Fund
- Fixed for 5 years at prime rate
- $5,000 minimum, $25,000 maximum
- Financing available for building expansion or renovation
- Financing for new machinery & equipment, office equipment and fixtures
- Available to manufacturing, commercial enterprises, retailing and warehousing and distribution businesses
- Bank participation required