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County approves $588,000 bond‑fee package to launch small‑business revolving loan fund and training partnership
Summary
The Board approved using $588,000 in bond‑related fee revenue to create a revolving loan program (targeting micro‑enterprises), a Grow America training partnership, and outreach; commissioners increased loan caps to consider up to $20,000 and asked staff to design a modest participant fee for training.
Palm Beach County commissioners voted unanimously to direct $588,000 in industrial‑bond approval fees toward three initiatives aimed at small and micro businesses: a revolving loan pool, a training and technical assistance program with Grow America (formerly National Development Council), and marketing/outreach.
The board-approved proposal allocates the funding as presented by county staff: $400,000 toward a small‑business revolving loan program, $140,000 for a Grow America training and technical assistance contract, and $48,000 for outreach and marketing. Staff described the loan program as targeting micro‑enterprises (typically five or fewer employees) with flexible, collateralized loans, and said the loans would be structured for repayment to keep the pool revolving.
Context: The fee revenue was generated when the county approved tax‑exempt industrial…
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