CHEDA: Adams Heating & Cooling gets loan
The CHEDA Board has approved a revolving loan fund request from Dean and Sheryl Adams, owners of Adams Heating & Cooling, to purchase a building for their business on the fringes of the industrial park, on Strander Avenue next to Mike’s Muffler.
CHEDA Executive Director Craig Hoiseth said he’s confident the loan can come through USDA dollars available through CHEDA, with a $35,000/$35,000 match. The reason all of it at this point is going through CHEDA’s revolving loan fund is simply to keep things progressing along, Hoiseth said, in anticipation of the possible necessity of an environmental review for the Adams to buy the property.
Once that is done, Hoiseth said the idea would be to transfer the loan to the USDA program. The building cost won’t exhaust the entire $70,000, Hoiseth said, and will leave some room for the Adams to make some improvements to it.
Hoiseth said Adams Heating and Cooling, which opened in 2000, has outgrown its current location.