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Committee approves $35,000 working-capital loan for Gerhardin Fabrication to open Green Bay showroom
Summary
The Community Development Block Grant Revolving Loan Committee approved a $35,000 loan to Gerhardin Fabrication and Design, pairing the loan with $40,000 in owner equity for a $75,000 project to build a showroom at 110 North Washington in downtown Green Bay; loan is 5% for seven years, secured by a personal guarantee.
The Community Development Block Grant Revolving Loan Committee voted to approve a $35,000 working-capital loan to Gerhardin Fabrication and Design, LLC, to help the Wisconsin-based maker build a downtown Green Bay showroom.
The committee’s chair moved to grant the loan at an interest rate of 5% for seven years, secured by a personal guarantee; the motion was seconded and passed by voice vote with no opposition. Staff presented the request as a $35,000 loan paired with…
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