WINTERSVILLE - Valley Weaponry, 432 Main St., has received a loan from the Revolving Loan Fund administered by the Community Improvement Corp.

The CIC said the loan was finalized late last week with a signing ceremony at the business, which sells tactical weapons, ammunition, clothing and supplies to law enforcement departments and qualified individuals. The firm, owned by Steve Kuruc and Ken Swickard, also markets and sells fully automatic weapons.

"Our revolving loan fund has money available to help local businesses expand, grow or locate in Jefferson County," said Ruth Casey, the fund's administrator. "We are extremely happy to have played a role in getting this new Wintersville business started."

She said the program has made $757,000 worth of loans since its inception in the late 1990s.

The loan amount to Valley Weaponry was not disclosed.

Casey explained the Revolving Loan Fund provides gap financing. A business must have bank participation but the loan fund can help when there is a need for more money than the bank is willing to lend. Casey said businesses ranging from commercial to manufacturing, service or industry can be eligible.

Rates on the revolving loan money are generally slightly below those available from a bank and are for fixed-rate financing. As funds are repaid, they go back into the loan pool to be loaned again.

A seven-member board recently was named to oversee the loan fund activities including Ken Perkins, president of the Community Improvement Corp.; John Brown, executive director of the Brooke-Hancock-Jefferson Metropolitan Planning Commission; Domenick Mucci, executive director of the Jefferson County Regional Planning Commission; attorney Robert C. Hargrave; Melissa Watts of U.S. Bank in Toronto; Jay Zatta, executive vice president of commercial banking at WesBanco; and Ed Looman, director of Progress Alliance.

For information about the Revolving Loan Fund, contact Casey at (740) 283-2476.

(Giannamore can be contacted at pgiannamore@heraldstaronline.com.)