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Aldermen renew revolving loan agreement with Heritage Family Credit Union for buy-up loans
Summary
The Board approved a new five-year BIAP (Business Incentive Assistance Program) revolving loan fund agreement with Heritage Family Credit Union covering 07/01/2025–06/30/2030 and authorized the mayor to sign; aldermen discussed interest-rate review language and staff said HFCU had already approved the draft.
Rutland City aldermen on July 7 voted to let the mayor sign a five-year renewal of the city’s Business Incentive Assistance Program (BIAP) revolving loan agreement with Heritage Family Credit Union (HFCU) covering July 1, 2025 through June 30, 2030.
The contract renews the city’s secured-loan relationship with HFCU for buy-up and small business assistance loans. City staff said the only edits in the latest draft…
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