Mortgage Burning Set for October 13 for CW Motorsports

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Published on September 5 2017 3:31 pm
Last Updated on September 5 2017 3:31 pm
Written by Greg Sapp

A "mortgage burning" is set for October 13 for CW Motorsports, the first business to benefit from funds loaned by Effingham County.

The County received a federal grant of close to $100,000 a few years ago. The goal was for the County to loan the funds to new or startup businesses in hopes those businesses would repay the funds, which would then be loaned to other businesses.

County Board Vice Chairman Dave Campbell said the mortgage burning would reflect that CW Motorsports owner Cody Willenborg has completed repaying the funds he was loaned. The celebration will run from 2 to 4pm at the dealership on Henrietta Street with treats provided by Holli's Flour Shop, another business that has benefitted from the loan funds.

The County Board recently approved a loan of $30,000 of the funds to Steve Davis, who is developing Steve's Liquor and Snacks along Funkhouser Road at Route 40. Campbell said Davis is trying to be ready to open October 1.

The loan to Davis still leaves more than $22,000 available for anyone interested in applying for a loan. If you're interested, phone the County Board office at 342-4990.