9/9/15 – 6:57 A.M.
Funds set aside to help develop businesses in Seneca County have sat dormant since 2013. The Review-Times reports the Seneca County Commissioners were given an update on the county’s revolving loan fund Tuesday. The account has a balance of around $52,000 in it, and it hasn’t been touched in nearly two years.
The money is used to help businesses finance projects that aren’t fully funded through other sources. Once the loans are repaid the money is used to help other businesses. The commissioners were told if the account doesn’t show activity, the money could be taken back by the federal government. It’s provided by Community Development Block Grant funding.
A reorganization meeting will be held soon to jump start the program. The account will be reviewed in the spring of 2016.
MORE: Review-TimesRead More →