The Rutland Redevelopment Authority is contemplating how to handle several loans in default.

The RRA administers the city's business incentive assistance program, or BIAP, which makes $10,000 forgivable loans available to start-ups and expanding businesses. The RRA makes recommendations on loans which are approved or denied by the Board of Aldermen. Businesses that complete all their requirements, including operating for three years during which they submit yearly reports, are eligible to have their loans forgiven, effectively making them grants.

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