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Brown County creates business revolving loan fund, appoints review committee and sets 3.5% loan rate
Summary
The Brown County Board of County Commissioners unanimously established a Business Revolving Loan Fund under O.R.C. § 307.07, appointed a five-member review committee with staggered terms, and set a 3.5% annual interest rate for loans issued in 2026. The county department of economic and community development will administer the fund.
The Brown County Board of County Commissioners voted March 18 to create the Brown County Business Revolving Loan Fund to provide low-interest loans to eligible local businesses under authority of O.R.C. § 307.07. The fund will be administered by the Brown County Department of Economic and Community Development, and any loans or financial commitments from the fund require approval by the Board.
Commissioner Gordon Ellis moved to adopt Resolution No. 03182026-1, which the Board approved on a unanimous roll-call vote; Commissioner Barry Woodruff seconded. The resolution says the fund will use Community Development Block Grant (CDBG) guidelines and related program manuals to determine eligibility and loan terms and aims to address financing gaps and support business growth and job retention.
The Board also adopted Resolution No. 03182026-2 to appoint the review committee that will evaluate loan applications, perform due diligence, and make recommendations to the Board. The initial staggered terms are: Tony Applegate, one year (expiring March 18, 2027); Jeff Ratliff, two years (expiring March 18, 2028); Daniel Wickerham, two years (expiring March 18, 2028); Sarah Beath, three years (expiring March 18, 2029); and Brandon Fawley, three years (expiring March 18, 2029). The Board approved the appointments unanimously after a motion by Mr. Woodruff and a second by Mr. Ellis.
To ensure consistent loan pricing for the remainder of 2026, the Board adopted Resolution No. 03182026-3 setting the annual interest rate for loans issued through the fund at 3.5%. That resolution applies to loan agreements executed between March 18, 2026, and December 31, 2026, unless amended by later Board action.
The resolutions direct county staff to develop application materials, monitor compliance with applicable state and federal regulations, conduct loan renewals, and prepare loan recommendations for final Board approval. The fund is intended to leverage private investment and promote long-term countywide economic resilience.
The Board’s actions were procedural and unanimous; no public testimony about the loan fund was recorded in the meeting minutes.
