Zone Loans to be offered to businesses

Published 12:00 am Wednesday, June 16, 2004

Huntington, W.Va. - The Huntington/Ironton Empowerment Zone

announced yesterday that it has funded a revolving lending program, Zone Loan, for all eligible businesses within the EZ.

Applicants for the loan funds include for-profit and non-profit entities that implement projects that assist economic revitalization within the

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Zone. EZ officials expect this initiative to facilitate the creation and/or retention of employment opportunities through increased investment of private and public capital.

"We're excited about the launch of the Zone Loan program," said Deron Runyon, loan and tax manager consultant for the EZ. "This will give business owners the financial strength to support new business ideas or to expand their existing businesses."

In order to determine whether or not a business qualifies for a Zone Loan, the EZ will look at the extent of the economic impact, number and type of jobs created or retained, the amount of leveraging of private capital and the increase of industrial, manufacturing, commercial and technological business development within the EZ.

To qualify for a loan, the project must be located within the EZ census tracts or developable sites. Businesses can go to the address locator Web site,, to find out if they are located in the EZ.

For more information regarding the Zone Loan program or to obtain an application, call the EZ office at (304) 399-5454 or go to