Derby OKs loans to upgrade 4 local businesses

By Jean Falbo-Sosnovich
Register Correspondent
DERBY — The Board of Aldermen has approved giving loans to four local businesses looking to make various improvements.
The money will come from the city’s revolving loan program, which uses federal funds, not city money, to give small businesses assistance with start-up costs, renovations, buying equipment and related expenses, at low interest rates.
The program was established in 1996, according to Sheila O’Malley, director of economic and community development, and has had an “85 percent success rate. "

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