Medina County commissioners approved two revolving loan fund (RLF) applications and corresponding loans to support building renovation and expansion projects in the county.
Brandon Gibson of Economic Development asked the board to approve RLF applications to the State of Ohio and to authorize loans from the county's revolving loan fund. The first loan approved was $250,000 over 10 years to Sue Incorporation, doing business as House of Union on the square, to finance interior improvements. The second was a $500,000, 15‑year loan to Yassu LLC (Great Oaks Tavern in Wadsworth) to fund renovations, a patio and equipment to support business expansion.
Gibson said the county must request state assistance because the local RLF balance did not have the full $750,000 needed. "We don't have $750,000 in the revolving loan fund right now. So we have to ask the state of Ohio to top up that fund so we can give it out to companies in Medina County," he said. Commissioners voted to approve both the state applications and the loans.
Both loans were approved by roll call. The loans are contingent on state approval of the RLF top-up and will be administered through the county's economic development office.