SMPDD’s Board of Directors recently approved a new loan program for local governments. Using SMPDD local funds, the program is designed to provide loans to local municipalities and county governments for community development purposes. The fund will only be utilized when the proposed project does not meet the guidelines of the existing Revolving Loan Fund. The job creation requirement is lifted for the local program, but the applicant must be solvent as verified through annual audits and a specific repayment method. The maximum loan amount is $175,000 and the project must address a community development need in the area.