Commissioners sign sub-recipient agreement for micro-loan program

MARSHALL COUNTY – Greg Hildebrand from the Marshall County Economic Development Corporation (MCEDC) came before the County Commissioners during Monday’s meeting with a sub-recipient agreement for the Micro-loan Program.

In August, commissioners approved a request to apply for funding from the CARES Act and the Indiana Office of Community and Rural Affairs (OCRA) to form the program. The Marshall County Council also approved the request around the same time that month. Public hearings were held the next month.

The program would look to provide small businesses with up to $7,500 for business relief. The exact amount would be on a case-by-case basis. The total amount of the funds from OCRA was $250,000.

At Monday’s meeting, Hildebrand stated that he was there to seek the commissioner’s approval of the agreement.

“We’re busy getting applications. We’ve approved, tenta

tively approved, 24 applications Friday. I’ve received two just today,” Hildebrand said.

Commissioner Kevin Overmyer asked Hildebrand if there were additional funds once the original $250,000 was used. Hildebrand responded that later that day, OCRA would announce Phase Three of that program.

The commissioners approved a motion to have the President of the Board (Overmyer) sign the agreement.

County Attorney Jim Clevenger informed the commissioners that since the county is associated with this agreement and since the MCEDC is approving loans to businesses, the MCEDC will be making quarterly reports to the commissioners on the status of this program.

Hildebrand also informed the commissioners that the newly hired MCEDC president and CEO, Dax Norton, will be starting shortly before Christmas.

“We’re looking forward at having him,” Hildebrand said.

According to OCRA’S website, Lt. Governor Suzanne Crouch and OCRA announced a third phase of the COVID19 Response Program and that it is now open for applications.

“For this round, eligible applicants include non-entitlement and entitlement local units of government and can apply for up to $250,000,” states the website.

Those eligible activities include: mental health services, childcare services, public Wifi locations, food pantry or bank services, subsistence payment programs, or grants or loans to businesses to retain low-to moderate (LMI) jobs.

The website states that communities that received an award in either prior phase may apply again. Deadline to submit proposals is until 11:59 p.m., Friday, Jan. 29, 2021.