The Tioga County Local Development Corporation (TCLDC), has approved and closed the second loan from its Intermediary Relending Loan Program. The loan will go to "Homestar" located in Candor, New York, which is owned and operated by Gwen Clark.

"Homestar" is a family-type home for adults designed to provide an assisted living environment for families who desire an alternative to nursing home care. Gwen Clark, the founder of "Homestar," felt there was a need to create a high quality holistic home care environment which offers personal care services, nutrition and research focused on those who do not require 24 hour skilled nursing care.

The site of "Homestar" expresses this unique vision as it is located in a historic home, an outstanding example of American architectural heritage, built in 1802 which has been the home of many families since its construction.

The loan funds will go toward the purchase of the property and also toward renovations to the house.

There will be three full time jobs created.

In 1996, the TCLDC obtained a loan from the USDA for an Intermediary Relending Loan Program. The revolving loan fund provides low-cost loans to eligible Tioga County businesses for up to 50% of project costs. New small business start-ups or expansion of existing businesses are eligible. Loans may be made to qualified industrial, service, or retail operations and may be used for land or equipment purchases, new construction, renovation, or working capital. Applicants must demonstrate a 5-10% minimum equity in the project and the project should create at least one new full-time job for every $20,000 loaned. The maximum loan is $60,000. For more information or for an application, call (607) 687-8259.