Staff report

STRUTHERS — The CASTLO Community Improvement Corp. has created a small business loan program for companies recovering from the viral outbreak.

The program — available to businesses in the CASTLO communities of Campbell, Lowellville, Struthers, Coitsville and Poland Township — would provide eligible businesses up to $15,000 from the improvement corporation.

It was created in partnership with Mahoning Valley Economic Development Corp.

The eligible borrower will have access to the loans at a fixed rate of 3 percent for up to 18 months. All payments will be deferred for six months; however, interest will continue to accrue over the period. A $50 borrower fee to cover the cost of loan preparation and administration will be attached for loans less than $5,000. Loans more than $5,000 will have a $100 borrower fee.

There are no prepayment penalties or collateral requirements.

A simple review process will make the loans available with a short turnaround period.

For additional information about the loan program or to apply for help,

contact Mario Nero at 330-759-3669 or mario@mvedc.com.

business@tribtoday.com