Located within the Mentor Municipal Center, MEACO is a certified development company whose mission is to advance economic development opportunities within the City of Mentor. MEACO is authorized by the U.S. Small Business Administration to operate the 504 Loan Program and also manages the Mentor Small Business Loan Fund in cooperation with the City of Mentor. These programs have created more than 1,600 jobs and represent millions of dollars in investment.
Small Business Loan Fund
SBA 504 Loan Program
The 504 loan program is an economic development financing tool administered by the Mentor Economic Assistance Corporation that provides growing businesses with long-term, fixed-rate financing for major fixed assets, such as land, buildings, and heavy machinery. Loan program works with private sector lenders to help secure financing to small businesses. Key advantages are fixed-rates, long term (20-years), and only 10% down payment. For more information visit www.meacoweb.com or call the Mentor Economic Assistance Corporation at 440-974-5739.