Published on August 5, 2025 2:50 pm
Last Updated on August 5, 2025 2:50 pm
The Effingham County Economic Development Advisory Board Tuesday learned that almost all accounts are current and the one case that has been problematic has been settled in court with a method of re-paying the County provided.
Advisory Board Chairman David Campbell said the revolving loan fund has a balance of $21,118 and that the funds are available for loan to new and expanding businesses.
The program began more than a decade ago with a USDA Rural Development grant of $99,000. The provision was that the funds would be loaned to those who might not otherwise get financing, but were reliable borrowers.
Campbell said the initial $99,000 has been turned over to generate $360,000 since the program started in 2012.
Meanwhile, the Advisory Board has applied for a second similar-sized grant, with hopes the request will be approved soon.
