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#2245072 - 11/03/20 11:20 PM Repair After Disaster - CD Loan?
TMatt87 Offline
Diamond Poster
TMatt87
Joined: May 2011
Posts: 1,987
Idaho
I think this is a long shot, but don't want to throw it out if there's any hope:

$2MM OLOC to a company that primarily rebuilds/repairs apartment complexes after a disaster, natural or otherwise. They operate throughout the western US, but predominately in AZ, ID, OR, TX, and WA. OLOC will be used to help fund their expansion in TX, where they have help rebuild apartments after hurricanes and floods.

I don't know if I could count this under revitalize and stabilize, or benefitting declared disaster areas. Like I said, I think it's a long shot, but I would appreciate any feedback.
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#2245074 - 11/03/20 11:54 PM Re: Repair After Disaster - CD Loan? TMatt87
Inspector Offline
Gold Star
Joined: Apr 2016
Posts: 283
Do you have specific disaster areas lined up that they are specifically assisting? That might be an angle that would work. I think you could get there if you got into more specificity about how the funds were benefiting particular disaster areas.

How do they look from the size test perspective? Is the expansion going to create LMI jobs? Might be an ED tie if you have the information.
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Opinions expressed are my own and do not reflect legal advice or the opinions of my employer.

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