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Germantown commission recommends four businesses for village loan pool; one approval conditioned on local lease
Summary
The Germantown Economic Development Commission recommended four local business applications to proceed to bank review under the village Business Development Loan Pool, totaling roughly $100,000; one application (Intrust Events) was approved only after commissioners added a condition requiring proof of a Germantown lease prior to final loan approval.
The Germantown Economic Development Commission on Tuesday recommended four applicants — Carl Yance, Deborah Schmidt (Intrust Events), Adam Chamorro (Chamorro Insurance Agency) and Joey Carini (Warhawk Wash) — to proceed to the village's Business Development Loan Pool review by Bank 59. The commission's action was a recommendation to the bank; Bank 59 will perform underwriting and make any final award decisions.
Commission Chair (unnamed) said the loan-pool program is a two-step process and that the commission's role is to vet and forward applications to the bank for final review. Commissioner (speaker 5) moved to recommend each application; motions carried by voice votes. For the Intrust Events application, commissioners added a condition that the applicant…
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