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Grow Link loan program: $3.1M lent to date; about $711,000 available, committee told
Summary
Committee member Joe reported the Grow Link loan program has lent about $3.1 million historically, with $2.2–$2.3 million currently outstanding and roughly $711,000 available for new loans; recent borrowers included Dusty Armadillo and Main Street Deli.
Joe, a committee member, provided an update on the Grow Link loan program during other business, reporting outstanding and available loan balances and recent activity. He said the program has outstanding loans totaling about $2.2 million (at one point the transcript references $2.3 million) and that the program has lent roughly $3.1 million to date. "There's a $711,000 amount that's available still for loans to be loaned out," he said.
The report included recent borrowers and inquiries: Joe said the last two loans were for Dusty Armadillo and Main Street Deli for expansion projects, and that there have been inquiries from properties around Blackhorse related to septic-system tie-ins to county sewer. He said the program sheet distributed to the committee lists borrower names, original loan amounts, interest rates and terms so members can track outstanding balances and re-loanings as loans mature.
No formal action was taken on the Grow Link program at the meeting; Joe said he would continue to provide updates to the committee.
The committee also discussed a separate administrative correction to meeting notices before adjourning.
