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PORT CLINTON – As Governor Mike DeWine takes further action to slow the rise of the coronavirus, Ottawa County officials are reminding small business owners of the possibilities for relief.
The Ottawa County Regional Planning Commission, or RLF, revolving loan fund has a balance of about $ 428,000 that it seeks to lend to businesses.
Mark Messa, regional planning director, said that although a few RFL loan applications are pending, even after these have been processed as planned, he will still remain in the neighborhood between $ 300,000 and $ 325,000.
Messa described the fund as being “stable” over the past year.
Following:Foundation helps Port Clinton launch ‘revolving loan fund’
Another local revolving loan fund established this year amid the pandemic is the city of Port Clinton, which recently saw its first applicant run out.
According to Dina Shenker, chief legal officer for Port Clinton, the city’s revolving credit fund board reviewed the application and plan submitted by the business owner and came to a common consensus to submit it to the board. municipal, which is responsible for the allocation of funds, for final authorization. .
The plan includes improvements to the exterior of a building, Shenker said.
Following:Local businesses abiding by the rules, strive to avoid a second stop
The Ottawa County Small Business Assistance Grant program is one source of funding that has seen sustained activity.
According to Ottawa County Commissioner Mark Coppeler, last week the program awarded 41 grants totaling $ 197,600.
The money for this program was allocated from the Ottawa County share of federal funds made available through the CARES Act, which have since been distributed by state legislators.
According to Coppeler, the county primarily gives grants to local businesses affected by the March and April closures.
“We were happy to be able to do it,” Coppeler said. “I hope that, to a small extent, we have helped some of these businesses. “
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