The Effingham County Economic Development Advisory Board is still accepting applications for the Revolving Loan Fund Program. The program was implemented in mid 2013 as a way to assist existing and start up businesses in Effingham County.The loan proceeds can be used for both fixed asset and working capital purchases, with the idea being that the loans allow the retention and creation of employment opportunities.
Since the program started more than $100,000 in loan funds have been distributed through six loans to five businesses.
All of the programs initial money has been loaned out, with the current fund being from businesses paying back their loan. Around $2,000 goes back into the program’s fund each month.