TROY — Council will consider the approval of a loan requesting $23,000 for a downtown juice bar business at its council meeting on Monday.
The finance committee approved to recommend the loan to council at its meeting held on Wednesday, Sept. 14.
The city of Troy’s Loan Review Committee gave its approval of a 5-year $23,383 with three percent simple interest from the Small Business Development (SBD) revolving loan fund to purchase equipment for a downtown juice bar on Sept. 9.
The request was made by Amber Sowers, owner of ReU Smoothie + Juice bar, to purchase equipment for the new business which will be located at 1 E. Main St. The loan request was made under Integrity Services AES LLC.
Chairman Tom Kendall said the business will offer a unique product that is not currently available downtown.
Anything we can do to populate the downtown businesses is very important to the community,” Kendall said.
Committee member John Schweser and Kendall approved the recommendation with emergency designation to close out the loan.
According to the report, Sowers has operated the juice and smoothie business for approximately four years, mainly operating out of a food truck. The mobile business frequented area farmers market venues and food truck rallies.
Sowers is requesting to obtain a cold press industrial grade juice machine which retails between $15,000-18,000. Sower will provide the mobile kitchen plus all business assets as collateral.
The loan will be considered by council at its regular meeting on Sept. 19.
In other news:
• The streets and sidewalks committee approved to move forward with a positive recommendation to council regarding consent legislation to continue to participate in the Ohio Department of Transportation Bridge Inspection Program at no cost to the City. Consideration of emergency legislation requested and approved.
Reach Melanie Yingst at [email protected] or follow her on Twitter @Troydailynews