In order to better serve the increasing number of small businesses in the Warsaw area, Kosciusko Development Inc.discussed a new policy Wednesday that would establish a revolving loan program for the county. KDI members voted unanimously to approve the loan program giving the local banks the ability to contigently commit to applications.Once desired funds are secured for the program, lenders will then have the ability to approve suitable applicants for loans. KDI plans to be the coordinator between banks and applicants.Lake City Bank will act as the program's trustee, and will be the administrator of the funds. The policy hopes to encourage job creation and retention in the community, as well as small business expansion. "We've focused on the very small businesses without the means to apply for a larger means," Lake City Bank vice president Clint Pletcher said. Jim Tinkey, KDI treasurer, presented budget totals for the first six months of 2005.
Joe Kirkendall, Times-Union staff writer- | July 28, 2016