Applications for business loans through Southern Alleghenies Commission's Business Lending Division and its Revolving Loan Fund are reviewed by a Loan Review Committee

The Loan Review Committee (LRC) is comprised of members from the region's banking community, as well as by local industrial development organizations.  The purpose of the LRC is to review business expansion or retention loan applications and to subsequently make recommendations to the Southern Alleghenies Commission's Board of Directors.

The role of the LRC is, in many respects, similar to a bank's loan committee.  However, a critical difference is that loan applications are evaluated for their economic development impact and job creation potential.  Moreover, the SAP&DC's Revolving Loan Fund (RLF) often accepts greater risk, in the interest of promoting the region's business growth.  Thus, members of the Loan Review Committee perform a valuable and difficult job, balancing the promise of job creation against the viability of companies who may not be entirely credit worthy.

The Loan Review Committee meetings are generally held the Friday prior to the third Wednesday of each month.  The scheduled meeting time is 10:00 AM.  Please refer to the Events calendar for the 2012 meeting dates.