Taco John's owner pays off SCEIC loan
A loan from the Stevens County Economic Improvement Commission made his purchase of the Taco John's in Morris possible in May of 2013, Eric McBroom said.
About six years later, McBroom has been able to pay off that loan and has put together a finance package with a bank to continue to expand his company.
"We've grown," McBroom said. Some of the other locations are in towns larger than Morris, such as Elk River and St. Francis.
"As a company...Morris is certainly part of the big picture. Business has been up and down here but we like where we are going here," McBroom said.
While the SCEIC provided a low interest loan, it also provided other tools that McBroom said he found valuable.
Former SCEIC director Michael Haynes, "took me around town to local businesses...," McBroom said. Haynes also provided him with access to different training, McBroom said.
McBroom said connections with the local chamber also provided another set of resources.
SCEIC director Cheryl Kuhn said the organization continues to offer resources to business owners beyond a low interest loan in its revolving loan program.
Now that McBroom has paid off his loan, the money goes back into the SCEIC's revolving loan program where it can be lent to another business.