All the allowance poured in to beautifying a middle businessdistrict will not reanimate that residents if plywood coversvacant storefronts, according to Montgomery County trade andeconomic growth Director Ken Klothen.
With that in mind, the county is kicking off a new smallbusiness financial assistance program.
?Our considering at the back this is that you have outlayed a lot of moneyon streetscaping and other modernizations of middle businessdistricts but, in this mercantile climate, there are a lot of smallbusinesses that do not have access to capital,? mentioned Klothen.
?We wish to ensure that you are not spending allowance to beautifycentral business districts that are having stepping up vacancies,?Klothen added.
Under the program, businesses in middle business districts thatare having burden getting funds for enlargement or renovationscan request for a loan or, possibly, even a give to assist them infurthering their plans, mentioned Klothen.
There will be no loan cap, he said.
?We?re considering they will be flattering small, in the 5 figurerange,? mentioned Klothen. ?We do not wish to obtain sealed in to any hardand swift manners about that because, if a plan comes along that isreally critical for a middle business neighborhood and creates jobs,we wish to be able to encouragement it.?
Quizzed by Commissioner Joseph M. Hoeffel III as to whetherthese loans will have established work origination mandate such asregulations ruling incomparable mercantile growth loans and grants,Klothen responded that many of the businesses the module istargeting are not as big sell and service businesses.
The county does not wish to request the same work origination criteriaused for incomparable businesses, Klothen said.
County Deputy Chief Operating Officer Steven L. Nelson mentioned jobcreation will not be the tip criteria, but if 4 equalapplications advance in and a creates jobs, that focus will begiven aloft priority.
The projected $500,000 appropriation is to fledgling module willcome from formerly granted funds is to county?s economicdevelopment module and its residents revitalization program.
The commissioners will have to pointer off on all loans andgrants.
Klothen mentioned he will be on vacation local chambers of trade toexplain the program. Also, other business organizations that might beinterested in the module can meeting the county at 610-278-3589 toarrange for Klothen to encounter with their memberships.
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