County approves $70,000 loan

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Swift County’s Board of Commissioners unanimously approved a $70,000 loan at their meeting Aug. 21 from the Swift County Revolving Loan Fund for the purchase of assets of Appleton Hardware.

“Owners of Appleton Hardware are interested in leaving Appleton to return to their hometown and pursue other business opportunities,” a memo to the county board stated. “Appleton Power Equipment owners are willing to purchase the business assets – excluding the building of Appleton Hardware and continue to offer retail hardware in Appleton at their own Appleton Power Equipment location in the town.

The purchase does include the inventory, equipment and fixtures.

The loan will help the community retain four jobs, the county board was told. Shawn and Jill Swenson own Appleton Equipment.

“We will keep an existing essential business in town, but it will be located at a better, more visible location and will be more convenient,” Shawn Swenson said on his loan application.

Swift County’s Rural Development Authority (RDA) met Aug. 8 and unanimously recommended the county board approve the loan. It will be at 4 percent interest paid over 10 years....

 

 

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