Investor News & Update
Lender, Valuation, Parallel Business Strategy...
Hello BCB Co investors and interested parties, Here’s the news and update as of early November, 2022:
Commercial Loan We have selected a primary lender, Heritage Bank, and are moving forward - we have an LOI from them, and they have targeted a closing date of mid-to-late December for the construction loan.
Heritage Bank’s loan(s) will cover the building construction costs (in stages) up to 80%LTV, as well as some or most/all of the TI’s (Tenant Improvements, aka Leasehold Improvements) for the Brewery/restaurant Business, which will be split off as a separate company, and lease the building from DDL (Detailed Development LLC).
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