Ohio-based soap box derby rebounding financially

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AKRON, Ohio (AP) -- An official says the Ohio-based All-American Soap Box Derby is on track to break even this year and then start making money after years of financial troubles.

The Akron-based nonprofit derby lost corporate sponsorship and was sued in 2009 by a bank seeking payment on $580,000 in loans. The Akron Beacon Journal reports the city guaranteed the loans, and the derby benefited from increased interest in gravity-powered racing in the area and fundraising by a local commerce group.

Derby President Joe Mazur says the derby is trying to generate money through racing and educational programs.

The derby's financial troubles inspired actor Corbin Bernsen to make a film about a soap box derby racer. It was scheduled to debut Saturday in Akron.

The 74th derby week begins July 18.

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Information from: Akron Beacon Journal, http://www.ohio.com