EDA loan portfolio updated; $200,000 commitment to Kickass Beef Jerky expected to close before summer
The EDA reported a loan account balance of $599,626.30 and an outstanding $200,000 commitment to Kickass Beef Jerky; with all current loans the portfolio totals about $986,000 and would approach $1.2 million when Kickass closes, leaving roughly $400,000 available for future loans.
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Staff reported the EDA's loan account balance at $599,626.30, with an additional $200,000 currently committed to Kickass Beef Jerky pending closing. The EDA has about $986,000 in loans outstanding in the community; with the Kickass loan closing the total would increase to roughly $1.2 million and leave just over $400,000 available for future lending.
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