Fulton County offers business loan program

Staff report

As businesses across Fulton County continue to reopen, the Fulton County Economic Development Corporation (FCEDC) and the Heart Radiothon have partnered to support small businesses through the Fulton County Mortgage, Rent and Utilities Business Loan Program.

More than $17,000 has been raised for this program and two loans have been made to support small businesses with cash flow necessary to sustain their operations.

Businesses may receive up to $2,500 within 48 hours of receipt of their application for an operating loan with a one percent interest rate paid back in an 18-month term. The first payment is deferred for 90 days. Any small business located in Fulton County interested in applying for this loan can find the one-page application and guidelines at www.fcedc-ohio.com.

As the loans are paid back, principal and interest will be contributed to the Fulton County Heart Radiothon, so that organization can purchase healthcare equipment and supplies for organizations in Fulton County. The FCEDC has decided not to charge any administrative fees for this process, so 100% of the funds are contributed to the Heart Radiothon. Any individual or business interested in donating to this program may send a donation to Heart Radiothon, 1493 N. Shoop Ave. Unit B, Wauseon, Ohio 43567. Donations are tax deductible.

“The COVID-19 pandemic has affected businesses and individuals in a variety of ways,” stated Matt Gilroy, FCEDC executive director. “Some people were challenged by working from home and supporting their childrens’ school work, while others were laid-off from their employer. Some employers experienced a sharp increase in sales, while others were completely shut down. As we work through this process, we encourage you to consider supporting your community by supporting efforts like this loan program.”

Gilroy said, in turn, the loan program will support the healthcare institutions county residents rely on to keep them safe and healthy.

Individuals and businesses that would like to donate to support the loan program may send a donation to the aforementioned address. Businesses that have questions about the loan or are seeking other information may contact the Fulton County Economic Development Corporation at 419- 337-9270 or [email protected]

Staff report