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Portland PDC approves loans for Bad Neighbors and Sherry LLC to help businesses open
Summary
The PDC approved a $100,000 commercial loan to Bad Neighbors and a $50,000 loan to Sherry LLC, both five-year terms; Sherry's disbursement is contingent on conditions including owner equity and assignment of life insurance.
At its March meeting, the Portland Development Corporation approved two commercial loans intended to help neighborhood food-service businesses open or finish build-outs.
The board approved a $100,000 commercial loan to Bad Neighbors, moved and seconded during public session. Dennis Gaines, co-owner of Bad Neighbors, told the PDC cost overruns drove the request: "We had to remove about 320 square feet…
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