About Us

The 503 Corporation was formed in 1983 as a private, non-profit corporation with the mission of promoting job creation and economic development in Ashtabula County.

To accomplish this mission, the 503 Corporation administers a Revolving Load Fund. The fund has been capitalized over the years with monies from State and Federal resources. These funds are loaned to businesses in Ashtabula County, usually below market rates. As the loans are repaid, with interest, the Load Fund money becomes available to lend th the next business in need of financing.

In addition to managing the Ashtabula County Revolving Load Fund, the 503 Corporation serves as the manager and administrator of the Revolving Loan Funds for the cities of Conneaut and Geneva. The 503 Corporation serves as the local contact agency for the Small Business Administration (SBA) 504 and State of Ohio Regional 166 loan programs.
The Ashtabula County 503 Corporation and the U.S. Department of Agriculture (USDA) prohibits discrimination in all its programs and activities in the basis of race, color, national origin, gender, religion, age, disability, political beliefs, sexual orientation, and marital or family status. (Not all prohibitive bases apply to all programs.) Persons with disabilities who require alternative means for communication of program information (Braille, large print, audiotape, etc.) should contact USDA's TARGET Center at (202) 720-2600 (voice and TDD).

To file a complaint of discrimination write USDA, Director, Office of Civil Rights, Room 326-W, Whitten Building, 14th and Independence Avenue, SW, Washington, DC 20250-9410 or call (202) 720-5695 (voice or TDD).