RLF defers payments; some loans available

VW independent/submitted information

Since the first case of coronavirus in the U.S. was confirmed last month, residents and many businesses have been impacted. In anticipation of this impact, last week, the Revolving Loan Fund Board made a decision to offer loan payment deferrals for three months, without interest, for current loans, with the ability to reassess.  

The Van Wert Area Economic Development Corporation reached out to the Ohio Development Services Agency (ODSA) a week ago asking about revisions that would allow quick financial support to small businesses. 

On Friday, ODSA provided revised guidelines that allow flexible financing terms for new loans during the COVID-19 emergency. Although limited, the RLF currently has funds available. Effective immediately, the fund will accept pre-applications from local businesses for low-interest loans to be used for working capital.  

Those interested should provide their name, business name, phone number, and email to info@vanwerted.com or contact the Economic Development office at 419.238.2999.

The RLF is doing its part to respond as best it can during these challenging times to support businesses and the community.