Committee task force recommends major changes to Vernon County Economic Development Loan Fund policy
A loan task force proposed changing interest-rate policy (to 60% of prime with 3% floor and 10% ceiling), tightening collateral and co-signer rules, narrowing nonprofit eligibility, and eliminating the Community Development Loan category; the committee asked for an updated draft in February.
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Members of the Economic Development Loan Fund task force presented proposed revisions to the policy manual and the committee directed the task force to return with an updated draft in February.
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