Olympic Finance Development Authority
This is the name of a local organization made up of the directors of economic development councils of Clallam, Jefferson, Mason and Kitsap Counties. This group has $1 million in state and federal funding and is expecting to begin making loans this fall.
Board President Linda Rotmark said their purpose is to provide "gap financing" for business owners and entrepreneurs. In other words, this is necessary financing that most banks don't provide. She said:
“We don’t supplant them. We supplement them.”
Rogers Weed, state Department of Commerce Director, said these loan programs will help the state's economy:
“They can provide low-cost loans that can help either something start up . . . or get through a rough patch and get through.”
Board President Linda Rotmark said their purpose is to provide "gap financing" for business owners and entrepreneurs. In other words, this is necessary financing that most banks don't provide. She said:
“We don’t supplant them. We supplement them.”
Rogers Weed, state Department of Commerce Director, said these loan programs will help the state's economy:
“They can provide low-cost loans that can help either something start up . . . or get through a rough patch and get through.”
posted by Tom Harper at 12:54 AM
7 Comments:
One million bucks doesn't go very far anymore.
This group has $1 million in state and federal funding and is expecting to begin making loans this fall.
In other words, our money. How about the capitalists that are doing well put up some money?
I'll tell you why, they're too damn busy going to meetings trying to figure out how get the money (our money) for projects they want.
Maybe they should do a plea bargain with Catherine Betts, spring her out of jail to raise money for them, she seems pretty good at it.
i bet the first loan recipient will be pen ply
A whole million dollars for four counties to share...@250000 per county, we'd be better off selecting 25 people from the phonebook , giving each 10k and telling them to only spend it in Clallam County.I think you'd see a whole helluvalot more economic activity than this silly shit will provide.
Question, is this board getting paid a salary with public funds or are they doing it free for the good of the greater public? Will some of that salary be coming from that million bucks? I predict that it won’t even make it to the corner.
Hey, they turned down my application for a start up loan so I could start a whorehouse and put some women to work. I think I could find a suitable location close to the Border Patrol headquarters.
(sarcasm is just one of my many talents)
I’m headed out to the boondocks for a few days, the rest of you are in charge while I’m gone, I don’t expect everyone to understand my unique perspectives, but a few of you may.
The rest of you monkeys are in charge while I’m gone, go CHECK OUT THIS BEAVER.
More of the same. These "boards" have professional grant writers, and are always looking for ways to justify their existence.
And, they are salaried.
this whole thing is exactly what is wrong with this area (and probably the country). The executive director will get a regular paycheck, hire consultants (usually friends) and never help the business community at all. They will find all kinds of reasons to NOT help, but will talk a good game.
These, and things like the Incubator and the Development Council, and all that have come before, are all lipstick on the pig.
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