Ohio County approves two OCED revolving loans to local businesses totaling $145,450

Ohio County Fiscal Court on June 23 approved two loans from the county’s OCED revolving loan fund: a $100,000, seven-year loan at 4% to an HVAC/air-filter supply and manufacturing business and a $45,450, seven-year loan at 4% to Rosa Maria’s Ice Cream (part of Copa Cafe in Beaver Dam). Court materials noted collateral in excess of the loan amounts for the HVAC business and that the house associated with the Rosa Maria loan would secure the smaller loan.

Jason Deal presented both applications, describing collateral and terms: the larger loan listed $124,000 in securities plus equipment and newly acquired machinery that would be first lien collateral; the Rosa Maria loan listed the business address at 419 State Route 269 in Beaver Dam and used the borrower's house as first mortgage collateral. Deal told the court that about $315,000 remained available in the revolving loan fund after these approvals.

Both loans were moved, seconded and approved by roll call. The court also moved to authorize the Treasurer to write and sign checks for OCED loans; that administrative authorization passed so loan funding can be processed.

Speakers emphasized that both loans were vetted and secured. The court did not discuss in detail borrower identities beyond the business names and collateral listed in the packet; full loan documents will be completed by staff and recorded by the county clerk.

Actions recorded at the meeting ensure disbursement steps can proceed and keep the revolving fund available for future small-business lending.