State Lowers Loan Rate
The WV Economic Development Authority recently announced availability of 2% loans for new manufacturing equipment purchases.
Dave Warner, the authority's Executive Director said that the rate had been set at 4% for the last ten years and that this move by the Authority will hopefully generate more investment by business.
Through this program, the Authority will finance 45% of a company's eligible equipment purchases.
Typically the business is ask to contribute 10% of the cost. Loans are available for up to $800,000.