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County approves 'Guilford Gains' capital access program, establishing $400,000 reserve for loan defaults
Guilford County Board of Commissioners · November 21, 2024
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Summary
The board approved an economic-development capital access program to provide working-capital loans to small businesses that contract with the county; the county will establish a $400,000 reserve for defaults and pay an administrator fee, with quarterly board reporting.
Guilford County commissioners approved a county-backed capital access program intended to expand small-business access to working capital.
Economic-development staff described 'Guilford Gains' as a public–private nonprofit partnership that will offer low-cost loans to county contractors and subcontractors. Under…
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