Community Development Block Grant Revolving Loan Committee 3-24-2026

The City of Green Bay's Community Development Block Grant Revolving Loan Committee met on March 24, 2026, to review and approve a loan request from Gerardan Fabrication and Design LLC. The committee approved a $35,000 working capital loan at 5% interest for seven years, secured by a personal guarantee, to support the opening of a high-end furniture retail showroom in downtown Green Bay. The total project investment is $75,000, including $40,000 in owner equity, and is expected to create one full-time furniture sales position with a focus on employing individuals from low to moderate income households. The meeting also included updates on the status of other loans in the revolving loan fund, with discussions about loan repayments, delays due to weather and construction, and the current availability of funds estimated to be in the low $300,000 range. The committee emphasized the importance of timely loan disbursement in compliance with HUD requirements and concluded with a motion to adjourn.