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Article: City and bank team to support growth of steel company.(An Advertising Supplement)(City of Los Angeles, Comerica Bank, and Growth Capital Associates, Inc. financed Calko Steel, Inc.)(Empowerment Zone Bond financing and Industrial development bonds)(Advertisement)
- Article from:
- Los Angeles Business Journal
- Article date:
- December 5, 2005
CopyrightCOPYRIGHT 2005 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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In September 2005, the efforts of the City of Los Angeles, Comerica Bank, and Growth Capital Associates, Inc. culminated with Calko Steel, Inc. receiving an innovative financing package totaling nearly $4 million: $2.35 million in tax-exempt Empowerment Zone Bond (EZB) financing, $1 million from a Comerica line of credit, and $600,000 from the Los Angeles Industrial Development Authority (IDA). While the final transaction was highly responsive to the needs of this growing business, the financing required the focused team approach to overcome numerous challenges.
About Calko Steel
Calko Steel, established in 1997, is located in South Los Angeles, within ...