The North Judson Town Council has finalized some COVID-19 help for a local business. Outstanding Tradeshow Exhibit Services (OTES) has gotten a $30,000 loan through the town’s Revolving Loan Fund.
The goal is to keep the business afloat until the convention industry recovers from the pandemic. OTES wouldn’t have to start making payments until May of 2022 and would pay it back over the following four years.
For the loan to happen, the town council first had to replenish the Revolving Loan Fund, since much of it had been reallocated to business relief grants, as a local match to the state’s COVID-19 Response Program. Last week, council members passed an ordinance to borrow $17,000 from the Cumulative Railroad Fund and $13,500 from county economic development income tax revenues that would normally go to the Starke County Economic Development Foundation. The loan payments would then be split between the foundation and the Railroad Fund.
Since the town council meeting, Clerk-Treasurer Andrew Rowe says the necessary paperwork has been signed, and the check has been disbursed.
