City Weighs Interest-Only Amendment to Speakeasy Loan

The Troy Loan Review Committee has recommended that City Council amend the existing $300,000 CDBG Economic Development Revolving Loan to Speakeasy Ramen, LLC for 101 W. Main Street to allow six months of interest-only payments beginning January 1, 2026. The amendment, requested under emergency legislation, would add a UCC lien on new equipment as the restaurant transitions to the 41 Grill and Draft House concept.

Scope & details

The full contract record, as filed.

Contract amount

$300,000 original loan; current balance $174,006.67

Contract type

FINANCIAL_SERVICES

Contract term

Seven-year loan at 2% APR, approved January 2022; proposed six months of interest-only payments commencing January 1, 2026

Renewal date

2029-01-31

Renewal

Original seven-year loan approved by Resolution R-9-2022; proposed amendment converts payments to interest-only for six months from January 1, 2026, after which full principal and interest payments would resume.

Document type

Agenda

Source document

troy_city_council_committee_meeting_agenda_novembe.pdf

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Troy City Council Agenda Packet 2026-08-03

PENDING

Town of Troy, OhioAug 3, 2026

troy_city_council_agenda_december_1_2025.pdf

AMENDED

City of Troy, OhioDec 1, 2025

troy_city_council_committee_meeting_agenda_novembe.pdf

AMENDED

Miami Metropolitian Housing Authority, Ohio$300,000 original loan; current balance $174,006.67Nov 24, 2025

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by City of Troy?

Speakeasy Ramen Llc was awarded this financial services contract by City of Troy, as recorded on November 24, 2025. The contract value is $300,000 original loan; current balance $174,006.67.

How much is the Speakeasy Ramen Llc contract with City of Troy worth?

The Speakeasy Ramen Llc contract with City of Troy is valued at $300,000 original loan; current balance $174,006.67, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a agenda record.

Where was this contract approved?

This contract appears in troy_city_council_committee_meeting_agenda_novembe.pdf (Agenda), dated November 24, 2025 from City of Troy. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

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