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17 <br />ORANGE COUNTY SMALL BUSINESS LOAN PROGRAM <br />PURPOSE <br />The purpose of #-lithe Orange County Small Business Loan pProgram_ <br />Pro am is to stimulate the creation of good jobs for Orange County <br />citizens as well as to stimulate successful business development and <br />expansion in Orange County Coun .The program will attempt to assist <br />businesses that have limited access to financing through conventional <br />means or other governmEnt guaranteed sponsored programs. Businesses <br />receiving funding through this program aze strongly encouraged to be good <br />corporate citizens as defined in Orange County's Economic Development <br />Strategic Plan. Businesses aze also encouraged to employ Orange County <br />citizens. <br />LOAN PROGRAM ADMINISTRATION <br />`The Orange County Small Business <br />Loan Program Company_ (Company and ##e-Orange County ,(County) staff may <br />be utilized to underwrite and service these loans, to include billing, a~- <br />generating administrative reports, and collection of delinduent accounts. <br />PROPOSED STRUCTURE <br />Y" ~ ~,., <br />The ompany is a <br />non=profit corporation formed °r ~~'~~ ~~~~-' to mare and facilitate loans to <br />small businesses under the program described here. The Pro ram is governed <br />by an eight member Boazd of Directors _acting under the Company's Bylaws <br />This Program is fully funded b~Orange County at the discretion of the Orange <br />County Board___of_County Commissioners. <br /> <br />2 <br />