The Imperial County Agricultural Benefit Loan Program has been revised and updated.
The County Board of Supervisors approved revisions to the program to update and promote the program in the Valley. Changes include increasing the loan amounts available per project to up to $2 million , based on the number of Full Time Employment ( FTE ) direct jobs created. Loan calculations will be based on a maximum of $60,000 for each new exempt FTE direct job created and a maximum of $30,000 for each new non-exempt net FTE job created. According to the revisions , loan interest rates will be set at the County's then current interest rate with other conditions applied. Loans will continue to be offered for up to 10 years.