Making Local Funds Work for You

This past Monday night, Ord City Council approved some significant changes to our sales tax loan program for economic development for the benefit of the community at large. First, we lowered our floor on interest rates to 2%. That means you can borrow funds for business development projects at a fixed 2% (we can finance up to 50% of total project costs). Second, specific changes were made to make the program more flexible for business transition projects. More flexible debt structuring is a specific example, as are changes to terms for transition project equipment and fixture acquisitions to name a few others.

You can have a look at the updated program guidelines here. You can see a complete picture of our Business Incentives here. We’re excited about these changes and expect the impact to be immediate. Drop us a line if you have any questions: (308) 728-7875.



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