City of Sullivan Establishes A Revolving Loan Program
•February 17, 2021• By Crystal Reed NP Writer During the Feb 8 City Council meeting, an ordinance establishing a revolving loan program for the city of Sullivan was approved. The council appropriated a sum of $400,000 for initial funding of the program. Prior to 1992, the US Department of Agriculture had a revolving loan program available to communities at low interest rates to push development and employment. That program had the amount of $250,000 appropriated to it. City Administrator Dan Flannell said that through that program the city of Sullivan made many loans to businesses, but as interest rates declined … Read More
