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( KNZA )-- Jackson County has officially ended the county’s micro-loan program.
The county commission agreed this week to the end the program, which began in 2006.
The commission had voted in June 2009 to terminate the program and to stop loaning money to area businesses. At that time, three out of four Jackson County businesses that had received micro-loans were at default on their payments.
Jackson County received a $100,000 grant from the Kansas Department of Commerce begin the program, which provided low-interest loans of up to $25,000 to new and existing small businesses.
A committee reviewed the applications and made recommendations to the county commission, who had final approval.
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