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Pasco EDC doles out microloan


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  • | 3:37 p.m. April 10, 2012
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TRINITY — The Pasco County Economic Development Council awarded the first microloan of its investment and mentoring program to Trinity-based Personal Pediatrician Care, a news release says. The EDC program is aimed at encouraging and aiding small business growth.

The program provides loans between $10,000 and $15,000 for Pasco firms out of a forecasted $250,000 fund that has already received donations from Wells Fargo and Bank of America. Pasco County Commissioner Ted Schrader said in a release earlier this year that the Pasco County Commission will look to contribute to the fund as well.

A representative from the EDC did not immediately return a call for comment on the conditions or amount of the microloan to Personal Pediatrician.

In March, the Pasco County Commission approved a measure to shoulder 20% of an annual tax refund for weapon manufacturer Adams Arms Inc. as part of Florida's Qualified Target Industry tax refund program. Adams is expected to create 29 jobs, according to a release.

 

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