Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Green Bay committee approves $25,000 loan to Hollywood Nails and Spa of Wisconsin LLC
Summary
The Community Development Block Grant Revolving Loan Committee approved a $25,000, 7-year loan at 4% to Hollywood Nails and Spa of Wisconsin LLC for new salon equipment; the loan will be secured by a UCC filing on the equipment and personal guarantees from both partners, with disbursement by reimbursement after receipts and on-site verification.
On Nov. 11 the Green Bay Community Development Block Grant Revolving Loan Committee approved a $25,000 loan to Hollywood Nails and Spa of Wisconsin LLC to purchase salon furniture, fixtures and equipment.
Jessica Mays, a city loan program staffer, told the committee the project would purchase 14 new spa chairs with advanced sanitation and 20 upgraded nail technician stations. Mays said the total project cost is $30,000 and the owner is contributing $13,000 in equity. “Funds will be used within 30 to 60 days of approval with vendors already identified,” Mays said.
The committee discussed term length and underwriting…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
