August 31, 2016
By Mickey Powell
MARTINSVILLE – Two local firms are the first recipients of loans from a fund recently established to help small businesses prosper.
A2Speed, an automotive performance parts company based in the West Piedmont Business Development Center (WPBDC) uptown, will receive $10,000 from the George W. Lester II Microloan Fund.
Books & Crannies, a new bookstore set to open Sept. 20 in the former Henry Hotel uptown, is to receive a $3,500 loan.
The board of the Chamber’s Partnership for Economic Growth (C-PEG), an independent affiliate of the Martinsville-Henry County Chamber of Commerce that raises private funds to support local economic development efforts, approved the loans on Tuesday.
Microloans are small loans designed to help businesses that recently have been established or are preparing to open, according to chamber President and C-PEG Executive Director Amanda Witt.
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