County Loan Money ‘Gone With The Wind’

By Fred Arnold Telescope Publisher
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It took less than a week.

On March 23 Republic County Commissioners announced that local businesses struggling due to the COVID-19 pandemic may be eligible for up to $20,000 in no-interest loans. By April 1 the money available for a loan was completely exhausted, according to Luke Mahin, Republic County Economic Development director.

In all, there was slightly more than $400,000 in the coffers amiable to assist county businesses. The loan amounts were limited to no more than $20,000 per qualifying business. But in little more than seven days, 100% of the available funds had been doled out.

According to Mikel Hadachek of the Republic County Development board, the group wanted to keep the process simple for funds that have been traditionally difficult to qualify for a loan.

“We’ve always worried that the state might ask for these funds to be returned,” Hadachek said. “If we can help 20 businesses in the county, won’t that be awesome?”

Mahin said that even though the pool of money to be lent is exhausted RCD still has programs available to assist local businesses.

“Many loan programs have changed and are adapting to address immediate business needs, from the Republic County Revolving Loan CDBG funding pool to the Small Business Administration programs,” Mahin said. “

Contact Mahin at 785- 374-3047 for more information.

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