Feds set up new bond financing program - WALB.com, South Georgia News, Weather, Sports

Feds set up new bond financing program

By Karen Cohilas - bio | email

ALBANY, GA (WALB) - With many banks still hesitant to lend money, small businesses in Dougherty County may soon have a new option. 

The Department of Community Affairs set aside $2.3 Million for Dougherty County to provide cheaper financing options for businesses.

Pretty much any business can qualify. They'll have to provide security for the debt and have to pay the money back so taxpayers won't be on the hook for the dept.

It's another tool for the county to bring new jobs to the area.

"If a business person had to borrow money whether it be two, three, four million, they can go in and this will be part of their package and would reduce their interest rates," said County Commission Chairman Jeff Sinyard. "Consequently, increase their cash flow and making the project much more viable and hopefully hire more folks and give us a better shot at putting them in Dougherty County."

There is a possibility the county could get even more bond money after other local governments decide how much money they plan to use.

 

©2009 WALB News. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.  Feedback

  • More WALB News10 HeadlinesMore News HeadlinesMore>>

  • Mosquito prevention starts now

    Mosquito prevention starts now

    Friday, April 28 2017 4:03 PM EDT2017-04-28 20:03:14 GMT
    Protecting yourself is as simple as wearing mosquito repellent. (Source: WALB)Protecting yourself is as simple as wearing mosquito repellent. (Source: WALB)

    Health officials urge the community to be proactive about preventing mosquitoes. 

    More >>

    Health officials urge the community to be proactive about preventing mosquitoes. 

    More >>
  • Law enforcement raises "dough" for Special Olympics

    Law enforcement raises "dough" for Special Olympics

    Friday, April 28 2017 2:05 PM EDT2017-04-28 18:05:54 GMT
    Law enforcement officers were raising money for a good cause (Source:WALB)Law enforcement officers were raising money for a good cause (Source:WALB)

    On Friday, April 28, 2017, officers and deputies swarmed all corners of Dawson Road and North Slappey Boulevard, but it wasn’t for an emergency. Instead, officers and deputies were raising money for a special cause.

    More >>

    On Friday, April 28, 2017, officers and deputies swarmed all corners of Dawson Road and North Slappey Boulevard, but it wasn’t for an emergency. Instead, officers and deputies were raising money for a special cause.

    More >>
  • Dougherty County's storm debris removal deadline approaches

    Dougherty County's storm debris removal deadline approaches

    Friday, April 28 2017 1:08 PM EDT2017-04-28 17:08:48 GMT
    Dougherty Co. residents need to have their storm debris in front of their homes by Monday, May 1, 2017 (Source:WALB)Dougherty Co. residents need to have their storm debris in front of their homes by Monday, May 1, 2017 (Source:WALB)

    If you’re a Dougherty County resident with storm debris still in your yard, you may want to pick it up this weekend. County residents are asked to have their storm debris in front of their homes by Monday, May 1, 2017.

    More >>

    If you’re a Dougherty County resident with storm debris still in your yard, you may want to pick it up this weekend. County residents are asked to have their storm debris in front of their homes by Monday, May 1, 2017.

    More >>
Powered by Frankly