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The Sentinel
report
The U.S.
Rural Development Agency has passed along $50,000 to loan to small businesses
in Fulton County.
Applications for the low-interest loan program are now accepted by Fulton
Economic Development Corp., which is administering the program.
Loans are revolving. As they are repaid with interest, the fund is to grow
and be turned around into new loans.
Business loans can be made at a reduced interest rate to start-ups and
existing businesses which employ fewer than 50 people and have less than $1
million in annual gross sales.
A loan committee comprised of local businesspeople will review applications.
Applications will be evaluated in the order they are received.
The loaned money may be used for a variety of needs, including new business
ventures, inventory, working capital, signage, sidewalks, computers or
software.
Fulton County had a similar program
in the past. Announced in May 2002, it was administered by the Area V Agency
on Aging and Community Services in Cass County and included an
additional $8,000 of technical assistance to businesses
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