The Iroquois County Board (Tuesday) approved a revolving loan that allows T & D Metal in Watseka . The loan application was administered thru the Iroquois Development Association (IDA). The project is estimated to create 30 new jobs. T & D has been rehabbing the former Big R building along Route 24-West.
The County loan is for $300,000 with a fixed interest rate of 2.89% over nine years.
The City of Watseka is expected to approve a $250,000 loan with a fixed interest rate of 3% for 10 years. The county finance committee wants to see monthly reports showing updated employee count and job retention numbers.