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Council approves $11,500 revolving loan for Sailstorm Quilt Shop; owner seeks awnings to protect merchandise
Summary
Alcester approved an $11,500 revolving‑loan to Sailstorm Quilt Shop and waived the 1% origination fee. The business owner described storefront renovations and asked for help adding awnings to reduce UV damage to fabrics.
The Alcester City Council approved a request from Sailstorm Quilt Shop for an $11,500 loan from the city’s revolving loan fund and voted to waive the 1% origination fee.
Committee member (S3) moved to approve the loan and to waive the fee; the motion passed. Staff (S2) said the revolving loan program typically uses 10–15 year amortization and a minimum 3% interest rate, and added that the council may choose to waive the origination fee. The business owner (S5) described recent storefront improvements and said new windows exposed fabrics to UV, prompting the request for awnings.
Council members discussed program availability and the loan fund’s purpose to support local economic growth. Staff committed to follow up with paperwork and loan processing.
