A public hearing was held during Tuesday morning’s Marshall County Commissioners meeting to take comments on a Community Development Block Grant application submitted by the Marshall County Economic Development Corporation (MCEDC).
MCEDC President and CEO Jerry Chavez explained that the $250,000 grant already awarded to the organization will assist small businesses. He said the Industry and Growth Committee within the Marshall County Crossroads Regional Stellar Initiative will help facilitate a micro loan program.
“The intent here is to disburse $250,000 in the form of a loan to small businesses that are not of an industry focus but more of commercial retail,” said Chavez. “Those loan funds can be converted into grants provided that the employer retains employees.”
A member from each municipality in the county will be on a committee that will review the applications and award eligible applicants.
If a business previously received a grant or loan from a similar program, the application will still be reviewed, but that factor will be considered when determining recipients.
No public comments were given during the public hearing on the matter.
The commissioners approved a resolution pertaining to the grant application with a unanimous vote.
