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Article: Brandon Apparel Fails to Repay All of Wisconsin State Loan.(Originated from The Wisconsin State Journal)
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- August 21, 1997
- Author:
CopyrightCOPYRIGHT 1997 Knight-Ridder/Tribune Business News. 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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Aug. 21--A state agency and the city of Columbus agreed to let a clothing maker off the hook for $86,000 of a $750,000 development loan so they could collect most of the money right away and avoid litigation costs, a state official said Wednesday.
Columbus loaned the new owners of Brandon Apparel Group $750,000 in 1994 in return for a promise to create 38 full-time jobs, with 20 of them to be made available to low- and middle-income people, according to records at the state Department of Commerce.
The Department of Commerce funnels money for such loans to state communities through the federal Community Block Grant Development program and helps ...