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Valley County Business Corridor Micro-Loan Pool

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20070629_ord_091We noted awhile back that Valley County was awarded $25,000 in JOBS grant funding from the Federal Home Loan Bank of Topeka.  Those $25,000 will be leveraged with $25,000 of local sales tax loan funds to create a micro-lending pool of $50,00o for any and all Valley County communities seeking to improve their primary business corridor.

First National Bank in Ord served as the grant applicant (thanks guys!). These funds are available as 4% interest (or ½ of prime interest rate) loans to develop viable infill economic development sites and/or make cosmetic improvements to any and all business corridors in Valley County. The maximum loan amount is $10,000 per project and applicants will need to provide a 25% cash match. Applicants will be subject to meeting credit analysis and lending terms with maximum loan repayment schedule of 10 years.

We’ll have more information and an application on this new pool of funds for Valley County very soon.  If you know of anyone interested in this program please pass them along my way: calebpollard@frontiernet.net


Written by Caleb

July 31, 2009 at 12:00 pm

One Response

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  1. […] Valley County Economic Development Board has been granted $25,000 in JOBS funding from the Federal Home Loan Bank of Topeka. The $25,000 has been leveraged with […]

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