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Article: Red Shield loan details due soon FAME plans $1M package
- Article from:
- Bangor Daily News Bangor, ME
- Article date:
- February 17, 2007
- Author:
CopyrightCopyright 2007 Bangor Daily News Bangor, ME. Provided by ProQuest LLC. (Hide copyright information)
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The Finance Authority of Maine is planning to have the final terms
of the $1 million loan to Red Shield Environmental LLC completed by
the end of the month.
The loan to Red Shield, a private group of investors who now own
the former Georgia-Pacific Corp. mill, has been granted to help the
company finance capital needs at the facility.
"We're still documenting the final terms," Bill Norbert of FAME
said Friday. "We intend to close and have money to them by the end of
the month."
The FAME board of directors approved the loan request Thursday.
The money is to be repaid over the next five years at a rate of prime