Associated Press Published

Whitewater Rafting Company Files Loan Application

Whiterwater Rafting Gauley River

West Virginia’s Economic Development Authority has accepted its first loan application from a whitewater rafting company since lawmakers allowed the agency to approve public-assisted financing for such businesses.

The Charleston Gazette-Mail reports that the agency on Thursday preliminarily approved a $3.4 million low-interest loan for River Expeditions, a whitewater guide company in Fayette County.

According to agency documents, the application would allow the company to use the government-subsidized loan to lower the interest rate on existing debt and is expected to increase employment at the rafting business from 107 to 148 people over the next three years

River Expeditions is the first outdoor adventure company to take advantage of a new law that opened up financing opportunities offered by the WVEDA to whitewater rafting operations in the state.