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Forks Growth Fund JDA approves multiple PACE and Accelerate loan requests and modifications
Summary
The Forks Growth Fund Joint Development Authority on June 2 approved PACE and Accelerate financing for local businesses including Johnstown Bean Company, Northern Plains Railroad and Cirrus Industries, and approved loan modifications and collection actions for several Accelerate and EDA/RLF borrowers.
The Forks Growth Fund Joint Development Authority on June 2 approved a series of financing actions, voting unanimously on most items to back equipment purchases and cash‑flow modifications for several area companies.
The authority approved PACE (Property Assessed Clean Energy) or similar flex loans for Johnstown Bean Company, Northern Plains Railroad and Cirrus Industries; approved Accelerate program modifications for Thread and Safety Spec to extend and spread repayment; authorized collection efforts on a defaulted Accelerate borrower identified as Taylor E; and approved a modification for an EDA RLF loan to Integrity Fundraisers.
The loans and modifications were introduced by staff member John Conlon. “The loan is…
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