EDC approves revolving loan for the Atrium

Port Isabel-South Padre Press

The Port Isabel Economic Development Corporation (EDC) approved a revolving loan for a local business owner, and heard updates on the EDC’s financial status during a special meeting Tuesday, May 29.

The EDC board unanimously approved a $150,000 loan to Linda Montemayor, owner of the Atrium Building, who will be making improvements to the two-story building located on Queen Isabella Boulevard.

Montemayor will be adding two more suites to the building, as well as completing work on the plumbing, air conditioning system, and painting. According to EDC staff, Montemayor has already invested $415,000 in repairs and improvements to the facility.

In regards to the Revolving Loan Program’s (RLP) other participants, most borrowers are in good standing, Port Isabel City Manager Jared Hockema reported.

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Permanent link to this article: https://www.portisabelsouthpadre.com/2018/06/01/edc-approves-revolving-loan-for-the-atrium/

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