Rantoul committee hears loan request for downtown building purchase

Rantoul's Micro Loan Committee considered a request for a loan to purchase a downtown building. | Contributed photo

By Louie Torres

Jun 17, 2016

The village of Rantoul Micro Loan Committee met Tuesday to consider a request for a loan to purchase a downtown building.

The committee oversees the village's micro loan program, which lends qualifying borrowers up to $50,000 at a current rate of 2 percent interest over five to seven years. Eligible projects include equipment and capital improvements. Proceeds from this fund may be combined to meet a matching grant requirement.

Here's the meeting's agenda, as provided by the village:

TO: Micro Loan Committee

DATE: June 9, 2016

There will be a meeting of the Micro Loan Committee on Tuesday, June 14 at 9:00 am

in the Conference Room of the Municipal Building.

MICRO LOAN COMMITTEE

JUNE 14, 2016

AGENDA

1. Call to Order

2. Roll Call

3. Public Participation

4. Approval May 19, 2016 Minutes