Harrisonburg closes first loan through new program

The City of Harrisonburg is pleased to announce the closing of the first loan through the Harrisonburg Business Loan Program.

The loan, in the amount of $4,500 was awarded to Court Square Coffee, a coffee business located at 2 N. Main St. that opened for business on Dec. 31, 2011. The business was open in time for First Night celebrations in Downtown Harrisonburg. Owners Jeremiah and Erin Young are using the HBLP monies for start-up expenses.

Economic Development Director Brian Shull is excited to see the program award its first loan. “Court Square Coffee is exactly the type of business we hoped would apply through this program. The owners’ commitment to locating in the city and growing from the ground up is what we were looking for with this loan program.”

The HBLP, funded in part by the United Stated Department of Agriculture’s Rural Development Program, provides loans to local businesses through the Department of Economic Development. The USDA granted Harrisonburg $99,500 toward the loan program. The city, through the Economic Development Department, provided an additional $25,500 to the program as well.