The four Pulaski County businesses who are repaying their revolving loans are thriving as a result of the program according to economic development director Nathan P. Origer. He tells county commissioners that Winamac Lumber owner Phil White is looking to expand his product offerings to better meet the needs of contractors like himself as well as do-it-yourselfers.
Clear Decision Filtration in Francesville has hired a few more employees and is adding more clients each month, according to Origer. Another Francesville-based company, Adapta Soft, Inc. is also looking at adding more employees and possibly growing its suite of software offerings. Winamac-based TS Recycle is the most recent revolving loan recipient. Tom Bonnell used money from the fund to purchase a new facility and additional equipment. His company recycles wood into pallets and two-by-fours.
Origer says all four borrowers are current on their payments. He’s keeping a watchful eye on the program after Chesapeake Recycling defaulted on the repayment of more than $151,000 from the fund. The county has filed a lawsuit against the individual loan guarantors in an attempt to recoup that loss.
More information about Pulaski County’s revolving loan fund is available at www.pulaskionline.org under the economic development tab.