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New bakery to open downtown

October 8, 2010

A $30,000 loan has been given to a new business in the city of Monmouth’s downtown district. The new business is a bakery that is being financed with a loan from the city’s revolving fund. It will be located at 200 E. Main, across the street from the Bijou Pub. The downtown coffee shop that had been in that location closed last month, joining a number of other stores in the downtown district have closed their doors in recent years.

The loan was officially approved by the city council this week following a presentation by Eric Hanson, Monmouth’s administrator.

“The revolving fund loan is separate from the downtown development grant,” said Hanson. The loan provides low interest loans to small businesses. The revolving fund loan has been in the cities possession for 10 years and is a city wide loan so it is not confined to the downtown area. The owner of the business applied for the loan and she took advantage of it. The city has concerns for vacancies.”

When asked if there was any help from the college in rebuilding Monmouth Hanson commented that the downtown development grant and the revolving fund loan are not related to the college but the college is a key driver in renovations to the city of Monmouth. The latest proof of the college’s revival is the Alpha Xi Delta women’s fraternity house being built on the corner of Broadway and S. 8th St. Both the city and the college are actively involved in reviving the city of Monmouth.

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