County Economic Development Committee Discusses How to Help

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Published on December 7 2016 10:22 am
Last Updated on December 7 2016 10:22 am
Written by Greg Sapp

Members of the Effingham County Economic Development Advisory Board Tuesday discussed how they could help with expertise, as well as with funds.

The discussion was prompted by a conversation between Advisory Board Chairman Dave Campbell and Dan Woods of Woods Advisors. Woods is working with the Effingham County Chamber of Commerce to provide expertise with those wanting to startup businesses. Woods asked Campbell whether he might have some ideas of people willing to help, so Campbell passed that message to others on the Board.

The Board also discussed whether to institute a late fee for those who have borrowed funds from the Advisory Board and are then slow in repaying the funds. One borrower is six months late on repayment, while others are two or three months behind. It was suggested that if there is no late fee as an incentive to repay in a timely manner, the County will likely be the last to be repaid.

The late fee would not be assessed against those who've already signed a loan agreement, but could be instituted against future applicants.