81
      Sunday
      92 / 75
      Monday
      90 / 73
      Tuesday
      92 / 74

      Loans give storm affected businesses stability

      Brian Ahmed, owner of Full Moon Barbecue on 15th Street in Tuscaloosa.(abc3340.com)

      {}{}{} The owner of the{}first business to rebuild after the 2011 Tornado outbreak in Tuscaloosa became the first to sign on the dotted line for a Commercial Revolving Loan.

      {}{}{} City leaders came up with the idea to help businesses in the destruction zone rebuild or enhance their business.{} $2.5 million dollars of the $16.6 million received from a H.U.D. allocation was set aside for the program.

      {}{}{} Brian Ahmed, the owner of Full Moon Barbecue on 15th street{}took advantage borrowing $200,000 which is the maximum amount which has no interest and doesn't have to be paid back until 2016.{} The loans have 3 to 5 year pay back agreements.{}

      {}{}{} "We get to save a lot of interest.{} I can use it to do some enhancements...create jobs and when you can get this and save 40 to 50,000 in interest{} over time, its a great thing," said Ahmed.

      {}{}{}{} At-least four other Tuscaloosa{}businesses have applied to borrow through the commercial revolving loan program.{} The city has about another $1.5 million to loan out.

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