WIUM Local
3:58 pm
Tue July 19, 2005

Rural Loan Program Rules Eased

Macomb, IL – A small-business loan program designed for rural areas is relaxing some of its requirements. Dave King of Prairie Hills Resource Conservation and Development says rulemakers have dropped the requirement that one new job be created for every $20,000 in loan money. The new program will also allow small towns, park districts or fire districts to borrow for infrastructure projects. King's agency recently received an additional $750,000 for its revolving loan programs. Prairie Hills operates in McDonough, Knox, Fulton, Warren, Hancock and Henderson counties.