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Tuesday, May 3, 2016

County OKs $35k loan for new welding shop

Monday, March 5, 2012

McCOOK, Nebraska -- Red Willow County, Nebraska, commissioners Monday morning approved the application for a $35,000 loan from the county's revolving loan program.

Jeremy Bain, owner of JLB Welding of McCook, will use the 10-year, 3 percent-interest loan to purchase land on County Drive 716 west of Orscheln's.

Rex Nelson, executive director of the McCook Economic Development Corp., which administers the county's loan program, told commissioners that Bain has been in business in a rented building at 109 East B for about two years, and that he wants to purchase the land on Drive 716 to locate a new building late this year or early next year.

The real estate is the county's collateral on the loan, Nelson said.

Bain's application indicates that he has two employees now and will provide 3-6 new jobs.

An environmental study still needs to be completed, Nelson said, hopefully by the middle of April, before commissioners can sign final loan documents.

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