The re-start-up of Iroquois County’s revolving loan program again generated discussion by the Iroquois County Board Tuesday.
The county’s Economic Development Association is pushing for support to keep start-up monies available for businesses showing interest in Iroquois County. But the revolving loan has also resulted in those who benefit not following thru with pay-back responsibilities. That -- finds some board members questioning whether the local government should be in the banking business ?
The Executive Director of IDA, Ken Barragree, points out, the county would control the fund, as it always has in the past. He also said any money in the fund is transferable, should the county find need.
A committee of county board members and professionals in the community would review applications before such loans would be approved.
County Board Chairman John Shure said more work needs to be done before the matter comes back to the finance committee.