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Committee directs staff to further explore a revolving loan fund for Richland County small businesses
Summary
Committee members asked staff to evaluate revolving loan fund options — including EDA capitalization, Mecklenburg and Charlotte models, and third‑party servicers to limit county liability — and approved a motion for staff follow‑up and comparative materials.
The Richland County Office of Small Business Ad Hoc Committee voted on March 17, 2026, to direct staff to further explore options for establishing a revolving loan fund (RLF) to support small businesses, after a staff presentation and subsequent discussion about capitalization sources and risk mitigation.
Director Green summarized examples included in the committee packet (pages 16–18) and described three models: Miami‑Dade as a large county example, Mecklenburg County’s in‑house $2,750,000 fund with $75,000 caps serving…
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