Two Delaware County companies are the latest recipients of the county’s Revolving Loan Fund (RLF) program, which was launched in June to assist local businesses recovering from the economic impact of the COVID-19 pandemic.
They are: Columbus House Network, a Westerville-based real estate company; and Evans Farm Land Development Company LLC, the firm developing a mixed-use “new urbanism” community in Lewis Center.
“The RLF committee has now approved six loans and there are more in the pipeline,” said Bob Lamb, director of the Delaware County Economic Development Department. “To date, we have loaned out nearly $150,000 to Delaware County businesses.”
Lamb added: “This is a great investment in our business community and it’s already starting to pay dividends. We have been able to assist businesses during a difficult time in our history.”
The RLF was created by the Delaware County Commissioners to assist business owners in Delaware County. Its funding has grown to $3.25 million, thanks to a $2.5 million infusion by the Commissioners and Delaware County Clerk of Courts Natalie Fravel, with additional grants of $250,000 each from Orange and Liberty townships and the Delaware County Finance Authority. The fund is administered by Powell-based Buckeye State Bank, and the RLF Committee, which reviews applications accepted by Buckeye State Bank, includes: Lamb, Delaware County Administrator Michael Frommer, Orange Township Trustee Ryan Rivers, Liberty Township Trustee Shyra Eichhorn and local businessmen Don Rankey and David Stadge.
Business owners interested in applying for a loan can fill out an online application at www.bsbdelco.com.