May 19, 2011

Local business takes a dip in loan pool

By Michael Johnson, Editor

The third business to benefit from the Washburn Area Progress Fund, or loan pool, was Weber Electric Inc., who received a $10,000 low interest loan from the Washburn Area Economic Development Association’s loan fund. Jamie and Ginny Weber are using the money to help pay for their new business on Main Avenue in Washburn. They found out about the loan when visiting with their local banker. Jaimie said the $10,000 low interest loan was certainly helpful in purchasing their business, which for the time is doubling as a home for the couple and their daughter, Vivian. Past recipients of the loan fund are Eyecare Professionals and Smithy’s, both of Washburn. All three have qualified for the maximum amount of $10,000, according to WAEDA board president Donna Sommer. Sommer reminds any and all businesses out there that this fund is not just for new businesses. Existing businesses are also welcome to apply. The fund is meant to help supplement financing or help make a down payment.

The Weather Network