Colleen Callahan, state director for USDA Rural Development, will present a $99,000 check to Elmwood Mayor John Hulslander this afternoon at 4:30 p.m. to be used to establish a revolving loan fund. Through the new Elmwood Revolving Loan Fund, start-up businesses will be able to apply for loans of up to $25,000 at a reduced interest rate. The city will use the funds to attract start up businesses to vacant sites in its reclaimed downtown.

After a tornado virtually destroyed downtown Elmwood last June local residents found USDA Rural Development a resource to help rebuild the city, not as it used to be, but the way they wanted it to be.

For details on the check presentation please contact Joan Messina (217) 871-3702.

The Economic Development Council for Central Illinois (EDC), a company of The Heartland Partnership, assisted Elmwood with the application and administration of its Community Development Assistance Program (CDAP) grant from the Illinois Department of Commerce and Economic Opportunity.