DeKalb library officials seek loan for expansion
DeKALB – In order to meet a looming June 30 deadline, the DeKalb Public Library will borrow $6 million from a private bank as a part of its fundraising strategy for its planned expansion.
Library officials must raise $15.5 million by June 30 so they can take advantage of an $8.5 million library construction grant they were awarded in December by the State of Illinois. The library would repay the loan with private donations made to the expansion within the next three years.
Board President Clark Neher said they are in discussions with Castle Bank, National Bank & Trust, and Resource Bank, but no specific dollar amounts have been agreed on.
If you have any technical difficulties, either with your username and password or with the payment options, please contact us by e-mail at email@example.com