Pulaski Commissioners Approve Revolving Loan Request for B&B Cottage Market

Pulaski County Commissioners: Mike McClure, Jerry Locke, Kenny Becker

A new business will soon be coming to Downtown Winamac, thanks to some financial help from Pulaski County. The county commissioners Monday approved a Revolving Loan Fund request for B&B Cottage Market.

It will be a coffee shop, bakery, and eatery, as well as a general and country store, according to Community Development Commission Executive Director Nathan Origer. “The CDC approved the loan, pending [County Attorney] Kevin [Tankersley’s] sign-off on collateral,” Origer told the commissioners. “Kevin and I have worked with the Kinders, reviewed their options, and Kevin has approved security up to $40,000. It’s a five-year loan, 4.25 percent, and based on our program rules.”

Origer also reported that Winamac Coil Spring continues to meet the requirements of a forgivable loan the county made several years ago out of its economic development income tax funds. “It’s got annual terms that they have to meet in order to have it forgiven without having to make repayment for the year,” Origer explained. “As of March 1 every year through this year, they have to be at 15 full-time equivalents at that location. I believe they are currently at 17, is the number that Tony Pesaresi reported to me.”

Origer also reported that the CDC had appointed Blake Kasten to its last vacant at-large seat. No objections were voiced by the commissioners.