Loan review committee backs Liberty Steel’s $2.65 million Keystone Fund request; full board to consider in August

Liberty Steel asked the Peoria County board for a $2,650,000 loan from the county’s Keystone Fund to finance capital upgrades and bring back employees at its Bartonville rod-and-wire facility, company representatives told the board. The loan review committee unanimously recommended the application and staff said the full board will consider a formal loan resolution at the August meeting.

The company said the proceeds would fund specific reliability and productivity projects in the melt shop, rod mill and wire mill, reduce operating costs and allow some third‑party contractors’ work to be internalized, accelerating rehiring. “We’re asking for a 2,650,000 loan,” consultant Chris Colter said during the presentation; Mark Frackdoll, vice president of finance, said the package is part of a larger financing plan that includes state support and private equity.

Liberty’s presentation described a multi‑part…