The loan guarantee program: reducing direct loan administration

Article Abstract:

The Traverse Bay Economic Development Corp in northwest Michigan has launched a loan guarantee program for important development funds which require less administration and costs than direct lending programs. The program has guarantees of second-tier bank loans for a period of up to four years, backed by certificates of deposits. Twelve loans have been approved since 1995, which were used mostly in building new factories, expansion of existing facilities, acquisition of new equipment and as working capital.

Management, Economic aspects, Community development corporations, Commercial loans

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Strategic listening: the key to Ohio's economic development success

Article Abstract:

Ohio is an example of a community which has been able to successfully carry out its economic development plans. According to its leaders, its secret is strategic listening, which entails the ability of the business sector as well as other sectors to listen to each other and implement viable recommendations. The development process was accompanied by the removal of tax barriers and the institution of tax incentives.

Economic policy, Economic development, Ohio

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