News

Ravalli County modifies revolving loan program

August 13, 2010 /

MATR Sponsor (view all)

"For small to medium to national organizations, for events and fundraisers of any size, in any format – live, virtual or hybrid – the platform is built for scale."

Currently, the county’s $700,000 revolving loan fund administered by county commissioners and the economic development authority is meant for Ravalli County businesses only.

But what if, for example, a meat processing plant was proposed for Lolo – and Bitterroot ranchers were to be the main supplier?

County commissioners on Thursday modified rules to the revolving loan fund so that they meet new statutory requirements. The county is in a certified regional development corporation with Missoula County and now each county can make loans to businesses in the other.

As before, all loans must be approved by the county commission. Currently, the $700,000 available for loans is all in use.

"This means that we are loaning as a region for the regional benefit," Julie Foster, director of the Ravalli County Economic Development Authority, told commissioners.

By JEFF SCHMERKER

Full Story: http://www.ravallirepublic.com/news/local/govt-and-politics/article_6ef0fe8c-a67e-11df-9209-001cc4c002e0.html