Front Royal EDA meets to address small business concerns
The Front Royal-Warren County Economic Development Authority met virtually yesterday with plans to address local small business concerns. The board of directors hammered out details of a loan application packet for the USDA Small Business Loan. The board wants the loan application process to be robust and have high accountability and creditworthiness, in order to filter through the best candidates who will have a successful impact on the local economy.
Additionally, current EDA small business loan clients who are current on their payments as of March are reminded that they can request their loan payments be deferred through the month of August. Regular monthly payments will resume starting in September. Deferred months will be added to the end of their loan commitment. Clients who wish to participate in this program may contact the EDA office to make a request.
The meeting covered a few other items as well. The board welcomed new director, Melissa Gordon, who will serve on the EDA Finance and Asset Management committees. The board also announced a sales contract for the purchase of 514 E. Main St. for $127,500. Selling the property has been a priority for the agency, and will allow it to focus efforts elsewhere.
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