Community Development Block Grant Revolving Loan Committee 8-5-2026

The City of Green Bay's Community Development Block Grant Revolving Loan Committee met on August 5, 2026, to discuss a loan restructuring request from Salon 54. The committee considered revising a previously approved $70,000 loan for furniture, fixtures, and equipment into two separate loans: a $24,968.31 loan at 4% interest for 10 years for actual equipment and furnishings, and a $35,000 working capital loan at 5% interest for 3 years to provide operational flexibility. This restructuring reduces the total loan amount and returns approximately $10,316 to the city's economic development revolving loan fund for future lending. The committee approved the restructuring unanimously. Additionally, the committee noted recent loan payoffs from American Tents Buffalo Equity, which replenished available funds, and discussed ongoing outreach efforts to promote loan availability in the community. The meeting concluded with plans to review new loan applications as documentation becomes available.