Browse
Search
Agenda - 06-21-2011 - 5s
OrangeCountyNC
>
Board of County Commissioners
>
BOCC Agendas
>
2010's
>
2011
>
Agenda - 06-21-2011
>
Agenda - 06-21-2011 - 5s
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
6/20/2011 12:58:39 PM
Creation date
6/20/2011 12:58:35 PM
Metadata
Fields
Template:
BOCC
Date
6/21/2011
Meeting Type
Regular Meeting
Document Type
Agenda
Agenda Item
5s
Document Relationships
Minutes 06-21-2011
(Linked From)
Path:
\Board of County Commissioners\Minutes - Approved\2010's\2011
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
28
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: June 21, 2011 <br />Action Agenda <br />Item No. 5 - s <br />SUBJECT: Status Update for Orange County Small Business Loan Program Company <br />Including Updates to `Operating Policies and Procedures' <br />DEPARTMENT: Economic Development PUBLIC HEARING: (Y/N) No <br />ATTACHMENT(S): <br />1) Status Memo on Small Business Loan <br />Program <br />2) Operating Policies and Procedures, <br />Revised May 25, 2011 <br />Amended Version <br />3) Operating Policies and Procedures, <br />Revised May 25, 2011 Track Changes <br />Version <br />4) Listing of Board of Directors <br />INFORMATION CONTACT: <br />Gary Shope, 245-2326 <br />Dottie Schmitt, 245-2327 <br />PURPOSE: To receive a status update on recent activities of the Orange County Small <br />Business Loan Program Company (Loan Program) and to approve updates to the `Operating <br />Policies and Procedures' (last updated March 21, 2000) as endorsed by the acting Board of <br />Directors (Board) of the Loan Program. <br />BACKGROUND: From its creation in 1997, the Loan Program was designed "... to stimulate <br />successful business development and expansion". The Loan Program is set up as a 501(c) (3) <br />entity managed by an eight-member Board of Directors (Board of Directors) which is composed <br />of two local small business owners, two local bankers, and four Orange County government <br />representatives (Finance Department Director, Economic Development Department Director, <br />Board of County Commissioners representative, and Economic Development Commission <br />representative). To date, the Loan Program has awarded five loans to four separate <br />companies. Amore detailed status report of these loan activities is provided in a separate <br />memo at Attachment 1. <br />The Loan Program has undergone occasional revisions to allow it to be as supportive to Orange <br />County's small business community as possible. A brief summary of relevant items in the Small <br />Business Loan Program evolution is as follows: <br />June 18, 1997 -Memo from Economic Development Director to the BOCC and the <br />County Manager proposing a Small Business Loan Pool, including draft Operating <br />Policies and Procedures. The original program was envisioned as a three-year, one-half <br />million dollar pool capitalized by local banks, with the County providing a 30% loan <br />reserve. <br />October 6, 1998 BOCC Meeting - An `Operating Policies and Procedures' document <br />was submitted to BOCC and was approved with changes. <br />
The URL can be used to link to this page
Your browser does not support the video tag.