Consolidated SBD Loan Planned For Smiths’ Boathouse Upgrades

Troy is poised to provide a consolidated $197,666.95 Small Business Development Revolving Loan Fund loan to Smiths’ Boathouse Restaurant, LLC, combining an existing balance with $100,000 in new financing for HVAC, ceiling, and furniture upgrades at 439 N. Elm Street. The 10‑year loan will carry a 3.375% interest rate and be secured by a UCC lien on business assets and personal guarantees.

Scope & details

The full contract record, as filed.

Contract amount

$197,666.95

Contract type

FINANCIAL_SERVICES

Contract term

120 months (10 years)

Renewal date

2036-07-01

Renewal

Existing SBD loans from 2016 and 2018 will be refinanced into a single new 10‑year loan at 3.375% interest; no stated renewal options beyond this consolidated term.

Document type

AgendaPacket

Source document

Troy City Council Committee Meeting Agenda Packet 2026-07-27

Frequently asked questions

Common questions about this contract, answered from the record.

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

Smiths' Boathouse Restaurant Llc was awarded this financial services contract by Town of Troy, as recorded on July 26, 2026. The contract value is $197,666.95.

How much is the Smiths' Boathouse Restaurant Llc contract with Town of Troy worth?

The Smiths' Boathouse Restaurant Llc contract with Town of Troy is valued at $197,666.95, covering financial services work.

What type of contract is this?

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

Where was this contract approved?

This contract appears in Troy City Council Committee Meeting Agenda Packet 2026-07-27 (AgendaPacket), dated July 26, 2026 from Town of Troy. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Smiths' Boathouse Restaurant Llc hold?

Smiths' Boathouse Restaurant Llc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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