The Pulaski County Commissioners have approved a loan that they hope will create jobs near Francesville.
The company, which owns land where Clear Decision Filtration Operates north of Francesville, has requested a $110-thousand loan to construct a new building. That site would allow the company to expand their production and make it easier for trucks to back-up to their plant.
Pulaski County CDC Executive Director Nathan Origer says loans like this make the local economy tick.
“If our economy is going to continue to be healthy, it’s going to be new businesses from here, people from here and new and existing businesses growing,” says Origer.
The loan would be paid back at 3-percent interest over 10 years.
Pulaski County touted their new process, established last year, evaluating the credit worthiness of the companies seeking credit availability from the county government. The funds come out of Pulaski County’s Revolving Loan fund.
According to Origer, the company’s risk rating was considered quite low for the project being considered. Commissioner Larry Brady said this is positive news.
“Hey, folks. Eight jobs? That’s fantastic. Entrepreneurship is alive and well in Pulaski County and I believe that still needs to be the mantra that we put out,” says Brady.
Commissioner Bud Krohn, Jr. said he felt the $35-thousand the company already has outstanding which they used in start-up cash should be repaid first.
The Commissioners approved the loan on a 2-1 vote.
