New or expanding businesses in Clinton County can apply for fixed low-interest-rate loans that have helped create 1,300 jobs in the county since 1985.

The Clinton County Revolving Loan offers a 3 percent fixed interest rate with terms typically at seven or 10 years.

This frees up cash flow, said Roxanne Greising, director of SEDA-Council of Governments’ (SEDA-COG) Business Finance Department. SEDA-COG reviews these loan applications and makes recommendations to the loan board.

“These are very attractive interest rates that help business owners – they get to keep the money they would’ve paid and use it for working capital, etc.,” Greising said.

The loans usually cover one-third of the project or a $250,000 maximum.

Full Body Health and Fitness Center in Lock Haven previously leveraged a $100,000 Clinton County Economic Development Administration/Revolving Loan Fund (EDA/RLF) loan to purchase their building, converting it from a skating rink to their gym.

The owners, Brian and Lori Hoy, also used two $33,390 loans for equipment: a Clinton County Enterprise Zone loan and a Lock Haven Commercial Loan Program fund.

SEDA-COG, on behalf of the Clinton County Loan Administration Board, partnered with M&T Bank of State College to finance the project.

Because of the nature of the new venture, SEDA-COG’s partnership helped spread the risk for the bank and helped make their dream a reality.

“Without SEDA-COG’s partnership with the project, a bank would not have taken the risk alone to finance our project,” Brian Hoy said.

The revolving loan fund, which is over 30 years old, was started by the county as a final piece of a financing puzzle for any business located in Clinton County.

For more information, contact SEDA-COG’s Roxanne Greising at 570-524-4491 or