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Jackson County approves two revolving-loan awards, sets amended terms and schedules policy work session
Summary
Supervisors approved a $120,000 loan to Preston Family Chiropractic (Henrichton Property Group LLC) with amended terms (amortized over 20 years with a 5-year balloon at 6%) and approved a $186,390 loan to Mississippi Valley Metals LLC (7 years at 5%), while deferring transfer/disbursement until a May budget amendment; board members called for a work session to refine loan guardrails.
The Jackson County Board of Supervisors approved two revolving-loan requests at the April 21 meeting and directed follow-up work to tighten lending guardrails.
ECIA representatives presented two applications. For Preston Family Chiropractic (Henrichton Property Group LLC), the committee recommended a Jackson County loan of $120,000 to purchase a building at 144 North Mitchell Street in Preston. The board debated term length and job-creation expectations and approved the loan with amended…
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