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Columbia Economic Development reports $5.86M in loans over decade, broadband and housing efforts; supervisors approve $460,000 support
Summary
Columbia Economic Development officials told county supervisors that over the last decade the organization issued $5.86 million in small‑business loans, is advancing broadband and housing projects, and asked the county to continue $460,000 in annual support.
Columbia Economic Development (CEDC) officials reviewed 2024 activity with county supervisors, highlighting a decade of small-business lending, ongoing broadband work and housing initiatives, and asking the supervisors to continue the county contract at the same funding level.
A CEDC representative summarized the organization’s small-business loan work over the last 10 years: the organization has provided $5,860,000 in loans to 244 businesses and supplied technical‑assistance grants totaling about $1,400,000, according to the presentation. "When you add them together, I could do that. I didn't bring enough. $12,000,000," the presenter said when describing combined grant totals across programs; later he summarized the loan portfolio as about $3,500,000 on the books with interest earnings reinvested.
CEDC staff described…
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