Jobs at what price? Jackson Co. loan program faces possible $900,000 in losses

Smoky Mountain News reports:

Supporters of Jackson County’s revolving loan program describe the financial give-outs as a tool in the county’s economic toolbelt, a boost to deserving businesses that can’t receive critical, even lifesaving, financial help through banks.

But five defaults since 1993 when the loans started, out of a total of nine loans, raises serious questions about the program. …

Jackson has flat-out lost $525,000 since starting the program because of businesses folding. Another $420,000 is on the line, with the exact losses depending how much the county can recoup from selling off collateral. …

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0 thoughts on “Jobs at what price? Jackson Co. loan program faces possible $900,000 in losses

    • bill smith

      “Government interference in the economy doesn’t work?”

      If one ignores the past 100 years of governance, of course.

    • sharpleycladd

      Yes, now that “government” has created a tourism and employment driver for Jackson County in the form of the Great Smoky Mountains National Park, let’s all sit back and kvetch about how ineffective “government” is. Left to its own devices, “the market” would have clearcut those mountains decades ago, and there’d be no economy in Jackson County to argue about. Mr. Peck is plainly disingenuous about this, and many other things.

    • sharpleycladd

      Yes, now that “government” has created a tourism and employment driver for Jackson County in the form of the Great Smoky Mountains National Park, let’s all sit back and kvetch about how ineffective “government” is. Left to its own devices, “the market” would have clearcut those mountains decades ago, and there’d be no economy in Jackson County to argue about. Mr. Peck is plainly disingenuous about this, and many other things.

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