Development Authority approves loan to LPD Trailers

Business, News

BLUE RIDGE, Ga. – At a special called meeting Monday, May 21, the Fannin County Development Authority (FCDA) approved a $40,000 loan to LPD Trailers, d/b/a Wildside Custom Trailers and Conversions, for the purchase of equipment.

Regarding the loan, FCDA Executive Director Christie Arp explained, “The Development Authority has a Revolving Loan Fund available for businesses who need gap financing. The fund originated from a USDA (United States Department of Agriculture) grant back in the late 1990s. The Development Authority can lend to businesses at around market interest rates to help with purchasing of equipment, business expansion needs, acquisition, etc. The funds are exclusive to the revolving loan and do not impact operating budget.”

Located in Blue Ridge, Wildside customizes new trailers or conversions as well as refurbishes, repairs and upgrades existing units.

Arp stated the FCDA has loaned to Wildside in the past, specifically a loan in 2010 that was paid in full in 2015.

“That loan was for a business acquisition,” Arp clarified.

According to Arp, the latest loan is for $40,000 at a five-year market-interest rate.

 

Author

Jason Beck

Born in Merrillville, Indiana, raised in Cleveland, Tennessee, and currently resides in Copperhill, Tennessee. Graduated from Bradley Central High School in 1996 and attended the University of Tennessee at Chattanooga, eventually earning a B.A. and M.A. in English. Hobbies include hiking, camping and fly-fishing. Interests include baseball, hockey and cliff jumping.

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