Tue June 30, 2009
Metropolis Offers Loans with State Help
By Casey Northcutt
Metropolis, IL – A sizable amount of state stimulus money will allow Metropolis to offer loans to small businesses. Mayor Billy McDaniel says he learned Monday that the Illinois government accepted the city's application for 750 thousand-dollars in Intermediary Relending Program funds. The money comes from the U.S. Department of Agriculture's Office of Rural Development and will be loaned to businesses at lower interest rates than conventional lenders. Applicants must still qualify for the program and eventually repay the government.