Judge Felton fosters local banking support for Montana County entrepreneurs

In a recent McLennan County Commissioners' Court meeting, the spotlight shone on the county's impressive financial health and its commitment to supporting local businesses. With no debt reported, officials highlighted the successful deployment of funds to small business owners, emphasizing the positive impact on the community.

A key discussion point was the county's low default rate on loans, currently standing at zero. This achievement is attributed to proactive client engagement and relationship-building, which allows the county to assist businesses facing financial difficulties. One example shared involved a client dealing with significant medical expenses who was able to negotiate a manageable payment plan thanks to the established rapport.

The meeting also underscored the collaboration between local banks and the county, which has led to successful loan programs that extend beyond typical lending limits. Judge Felton played a pivotal role in fostering these relationships, resulting in a $25,000 grant from Independent Financial, now South State Bank, which continues to benefit local entrepreneurs.

Among the businesses supported are innovative startups like Canco, which offers trash can cleaning services, and GTG Outdoors, a nonprofit focused on providing outdoor experiences for underserved youth. The county has also backed Greater Waco Legal Services, which provides essential legal aid to those in need, and a direct primary care center that addresses gaps in healthcare access.

As McLennan County continues to nurture its local economy through strategic partnerships and community-focused initiatives, the future looks bright for its small business landscape. The ongoing support and collaboration among local leaders and financial institutions promise to sustain this momentum, ensuring that the community thrives.