USDA
..t..
-s:
Un
.......................
of
AgrIcuIt
...
......
Development
State
OffIce
June
15,
2007
Stephen
A.
LaRoque,
Executive DirectorPiedmont Development
Company,
Inc.
POBox
10342213
Hull
Road Suite 8
Kinston,
NC 28503Re;
Hilton
Partnership
Dear
Mr.
LaRoque:
We
have reviewed
the
loan
request submitted by Mark Hilton-individual
and
TonyHilton -individual for
the
purpose
of
fmancing working
capital
for
real estate leasing business.
The
business
will
retain 2
and
create 1 jobs residents in Catawba
and
surrounding counties.
Basedonthe
needs
and
unit acquisition
in the
amount
of
5205,000.00. This represents
1000.4
of
the project
cost.
Therefore,
the
Intennediary Relending Program loan in
the amount
of$lJv.
'
VV\.1"vv
ECDC-RLF
in
the
amount
(12.19%)
and
applicant contribution
will
constitute
100%
of
the
project cost. This also meets
the
75125
criteria
U"'..
;"'AA
•
....,.,.
4274-D
section
331
(b)
(2).The
project based
on
the infonnation submitted
has
been classified as a Categorical Exclusion
and all
applicable certifications have been received
.wo6
Bland
Road,
Suita
280
Raleigh.
North
Carolina
27609Phone:
(019)
8734000·
Fax:
(018)
8 7 ~ 0 7 5 ·
TDD:
(818) 873-2003· Web:
h l I p - J ~ . I U I d e v . u a d a . g o v / n c
Commltlild
to
the
Mute
of
nal
CXII'JII1unHIeL
I
'l
'.,
,
Please provide
our office
with
the
applicable copies
of
the
loan documents immediately after
the loan
for Mark
Hilton-
individual
and
Tony Hilton -individual
has
been closed.
•
••
•
•
•
Sincerely,
GEORGE
L.
VITAL
Business
Program
Specialist
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