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South St. Paul EDA approves $15,000 microloan to Al’s Corral Bar
Summary
The South St. Paul Economic Development Authority unanimously approved Resolution 2025‑16 to provide a $15,000 microloan to Al’s Corral Bar for replacement beverage coolers and HVAC equipment on terms recommended by staff.
The South St. Paul Economic Development Authority voted 7-0 to approve Resolution 2025-16, authorizing a $15,000 microloan to Al’s Corral Bar, owner Alan Fisher said, to fund replacement beverage coolers and HVAC work at the business located at 440 Concord Exchange South in South St. Paul.
The loan would cover roughly half of a project the presenter said totals about $30,000. Mr. Garcia, economic development staff, said the microloan would be amortized over 72 months at a fixed 10% interest rate, producing a monthly payment of just over $275. He told commissioners staff had reviewed the business’s and owner’s personal…
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