Effingham, IL-(Effingham Radio)- The Economic Development Advisory Board met Tuesday and discussed the state of the USDA Rural Development grant application.
The Board learned that they have been approved for a grant of $99k, which will be added to the revolving loan fund. This, on top of the $11.4k still in the fund, puts the total amount over $110k. This will likely be finalized by the end of August.
With this money on the way, the Board will be able to look at new application requests through the Revolving Loan Fund. Once the money hits, board members will begin sifting through new applications.
Dave Campbell also gave updates from current borrowers, and the Board discussed job retention practices. Board members also approved the minutes from the last meeting.
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