KERR-TAR COG

The Kerr-Tar COG established a Revolving Loan Fund (RLF) in 1986, with its counties that were designated as Long Term Economic Deterioration (LTED) counties by EDA. The purpose of the RLF was to assist in raising the standards of living through sound economic development policies, and use of innovative and creative business financing. Strict objectives were established to accomplish the goals; which included reducing unemployment, creating and retaining job opportunities, increase the area's tax base, re-develop vacant land, stimulate private sector capital formation and aid in small business development, etc. Then in 1987, EDA sent a formal invitation to the Kerr-Tar COG to submit an application to EDA for a revolving loan fund grant under the Long Term Economic Deterioration (LTED) Section of Title IX. The proposed grant project was for $500,000 in EDA funds that would be matched with $167,000 in local funds. As of today, the COG still runs two successful loan programs: the RLF..

Primary location: Henderson United States