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Economic Development Corporation of
Carthage
The mission of the EDCC is to provide loans in all sectors of the economy
in the Greater Carthage Area to stimulate business activity through
business start-ups and expansion, creation and retention of jobs, and the
reduction of blight. Loans are limited to a maximum of forty (40%)
percent of the total project costs, but may be increased to sixty (60%)
percent if it will help to rectify a blighted or unsafe condition.
Micro-loans ($35,000 or less) are also available up to 90% of a project.
Funds can be used for fixed assets, inventory and working
capital, and real property. Full collateralization is required. Rates and terms are negotiable. 10% cash equity participation
is typically required. The
EDCC encourages partnering with commercial banks and other funding
agencies.
Loan Program Information
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Carthage Industrial Development Corporation
Services:
Encourage economic and community development through financial and
technical assistance. The
CIDC will often partner with the EDCC on implementation of a project or
initiative.
The mission of the CIDC is to pursue reduction of
unemployment, increase and maintain job opportunities, to carry out
research and provide technical assistance for the purpose of aiding the
Greater Carthage Area in the attraction and retention of Industry,
commercial business and to carry out overall community development
activities. The service area
of the CIDC includes the Towns of Champion and Wilna, and the Villages of
Carthage and West Carthage.
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