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Portage Grow Link loan program: county ramps outreach as applications lag
Summary
Committee heard that Portage County’s Grow Link small‑business and homeowner loan program has seen limited applications despite outreach to all 18 townships; program offers loans up to $250,000 and reportedly has 'over a million' available, with county staff aiming for stronger demand in Q1–Q2 2025.
Portage County’s loan program, branded in discussion as Portage Grow Link, remains a focus for outreach after committee members reported limited application activity despite promotion in all 18 townships.
John Kennedy, who led the program briefing, said he promoted the program extensively and expects ‘‘a big uptick’’ in interest in the first and second quarters of 2025 if lower interest rates persist. He said the county has worked with local lenders but that demand has lagged as potential borrowers wait for clearer economic signals.
Program details recapped at the meeting: small businesses can borrow up to $250,000 for operating costs; the presenter said the program balance was ‘‘over a million’’ dollars available for lending. John also reported that Portage Community Bank’s chief lending officer, Eric Decker, told him the bank is seeing some inquiries but that several prospective borrowers did not meet credit standards.
Kennedy told the committee that local lenders are limited in how they can promote the county product directly on their websites, and he said the county’s own website could do more to publicize the loan program. Committee members encouraged continued outreach and agreed to revisit program uptake at the next meeting in March.
No formal action was taken on program changes during the meeting.
