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Board approves $10,000 revolving loan to Divine Hair, Skin & Nails; one abstention
Summary
The board approved a $10,000 revolving-loan disbursement to Divine Hair, Skin & Nails, using revolving loan funds; applicant requested $20,000 but only $10,000 was available. Dave Campbell abstained due to a personal rental relationship.
The Effingham County board approved a $10,000 revolving-loan disbursement to Divine Hair, Skin & Nails, with one board member abstaining because of a personal relationship with the applicant.
The revolving-loan application asked for $20,000 but staff said only $10,000 was available from the revolving loan fund. Kara, the business applicant, was present and the board discussed completing loan paperwork; staff said the applicant was prepared to sign if the corrected $10,000 figure was approved.
Dave Campbell disclosed he rents property to the applicant and abstained from the vote. Board member Chris Keller moved to approve the $10,000 disbursement; Sandy Rich seconded. The board approved the loan on a roll-call vote with a recorded abstention from Dave Campbell. The loan terms discussed in the meeting were a five-year repayment term at 3 percent interest.
Board members and staff noted the revolving loan fund is intended to support local small-business starts and expansions and that the county has procedures to avoid conflict-of-interest in voting.
