Clean up: Sterling Linen wins Manchester Econ Development loan.The Manchester Manchester, city, England Manchester (măn`chəstər, –chĕs'tər), city and metropolitan district (1991 pop. 397,400), NW England, on the Irwell, Medlock, Irk, and Tib rivers. Economic Development Office has made a $100,000 loan to Sterling Linen linen, fabric or yarn made from the fiber of flax, probably the first vegetable fiber known to people. Linens more than 3,500 years old have been recovered from Egyptian tombs. Phoenician traders marketed linen in Mediterranean ports. Services, a commercial laundry Laundry can be:
Before industrialization service located in Manchester--that it says will help to create some 35 jobs over the next two years. The loan was given as part of the Manchester Development Corp.'s revolving loan fund A Revolving Loan Fund (RLF) is a source of money from which loans are made for small business development projects. A loan is made to one person or business at a time and, as repayments are made, funds become available for new loans to other businesses. , which is funded through Community Development Block Grant funds and repayments from existing loans. Jay Minkarah, the city's director of economic development, said Sterling was able to get the loon loon, common name for migratory aquatic birds found in fresh- and saltwater in the colder parts of the Northern Hemisphere. Its strange, laughing call carries for great distances. Like the grebes, loons float low in the water and their legs are placed far back. because it employs a large number of workers, including immigrants, and it has experienced substantial growth in the last number of years. "It's a different type of business than we've had in the past," said Minkarah. "It diversifies our recipients a bit." The loans often provide financing to help cover the difference between private financing and the total amount needed for qualifying proposals, and is often used to create new jobs. "We view the revolving loan fund as an invaluable tool to encourage the growth of new and existing business and the creation new jobs in Manchester," said Minkarah. "The Economic Development Office is here to provide resources, assistance and guidance for local businesses and the RLF RLF - Reuse Library Framework of the DoD. is one of the most effective tools we have to do so." Dennis Kim, co-owner of Sterling, said the company has "enjoyed tremendous success and growth since acquiring the business four years ago, and are looking forward to further expansion" thanks to the loan. |
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