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County reports loan fund activity: Natural Fiber Welding draws credit line, Harvest Supermarket pending
Summary
Staff told the board the county economic development loan fund has one active loan to Natural Fiber Welding (a $3 million line of credit with roughly $1 million drawn and a pending $500,000 draw) and one pending loan to Harvest Supermarket; the fund balance was $8.9 million as of March 31 and payments are current.
Peoria County staff updated the board on activity in the county's economic development loan fund and confirmed a plan to report semiannually unless material changes occur.
Julie, the author of the communication included in the packet, and Heather from the finance team said the county currently has one loan outstanding to Natural Fiber Welding…
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