EDC Loan

The EDC Loan incentive is used to promote new or expanded business development. This loan is given to businesses who are in need of new equipment to help increase their overall sales and sales tax. The EDC Loan must be paid back on a monthly basis including interest.

The EDC Loan incentive must be approved by the EDC Board of Directors. All amounts over $10,000 must then go before the City Council for final approval. This incentive is paid in full after a promissory note and security note are signed by all parties.

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