CDBG Microenterprise Program
CAA administers the CDBG Microenterprise program for the Columbiana County Commissioners. This program provides loan funds to those interested in starting or expanding a small business in Columbiana County.
Loan Amount
- The minimum loan amount is $2,000
- The maximum loan amount from the Microenterprise Program and County Revolving Loan Fund is $15,000 (Contingent upon funding availability)
Repayment Terms
- Payments must be made on a monthly basis
- You may have up to five years to repay the loan
Interest Rates
- The interest rate on the loan is fixed for the period of the loan.
- Rates will normally not exceed Prime Rate and will be set by the loan committee.
Use of Funds
The following are examples of eligible uses of funds:- To purchase Machinery, equipment, or supplies
- Assist with the purchase of land or building
- To fund rehab of an existing building
- Working capital for start up of a new business
- Involve land banking or construction for speculative purposes
- Historically uncompetitive or unsuccessful ventures
- Businesses that do not conform to civil rights legislation and have been or likely to be involved in unfair labor practices
Training
- Must complete an Internet based training course and develop a business plan.
- All participants are required to purchase the training textbook.
Additional requirements
- Must attend personal development/ budgeting sessions
- Ability to make loan repayment
- Have an acceptable business plan
- Ability to provide cash collateral or in-kind to secure the loan, if required by the loan review committee
If you have be deemed eligible under the program, please link to:
Contact CAA for additional requirements at 330-424-4013