The Downtown Revolving Loan Committee met on Wednesday, Jan. 3, 2018, and conditionally approved  a loan for $40,000 to The Sassy Biscuit Co. (Jilan Hall- Johnson). The business will be located at 115 N. 29th Street as a tenant. The money will be used to purchase equipment, supplies and other initial operating costs.  She is tentatively set to open in February 2018. The City will apply to be the first position lien holder on the Beer and Wine License when it is approved by the State of Montana.
 

City Council may:

• Approve the loan for up to $40,000, or;
• Disapprove the loan

If Council does not approve the loan, the applicant will need to obtain financing  from another source..

The Downtown Revolving Loan fund currently has about $900,000 in cash-on-hand with 3 loans pending. If all loans are disbursed, the balance of the cash will be around $450,000. 

The Downtown Revolving Loan Committee recommends that the City Council approve the $40,000 loan to The Sassy Biscuit (Jilan Hall-Johnson) to be secured by the Beer and Wine License from the State of Montana.