406 Auto Group Receives Revolving Loan Fund Award

Richland Economic Development Corp (REDC) is pleased to announce that the Revolving Loan Fund (RLF) Committee has awarded its 21st loan for the opening of a business in Sidney. Garrett Cayer was approved for a loan to open "406 Auto Group" an automotive sales and detailing business.

Garrett completed an application in partnership with his lead lender, Don Garsjo, Yellowstone Bank , Sidney, and presented this project to the RLF committee for review. The funding request was for capital expenditures.

Garrett has eight years of experience in auto detailing services and will also be selling North Star Auto Sales' vehicles on the shop's lot. His father, SJ Cayer, will be managing the sales initially, while training Garrett to assume this role in the future. The Cayer family has been in automotive sales since 1989.

The RLF committee is pleased to assist Garrett in this business venture. The intent of the RLF is to offer an additional tool to support new business and business expansion projects. Don Garsjo states, "This partnership with the RLF is worthwhile. Every one of these helps to create jobs and assist borrowers, even when the interest rates fluctuate."

REDC encourages existing businesses and new business startup projects to consider the RLF as a resource. The RLF loan pool of $1,000,000 is not free money, but an investment made by the Richland County Commissioners, to assist in the development of business in our economy. The application and review process are achievable and done in conjunction with the area financial institutions in Richland County.

If you or someone you know is thinking of expanding or launching a new business in Richland County, contact any of the local financial institutions or REDC today for an application!