City of Hanover Awards Financial Services Contract to Byline Bank (October 2019)
City of HanoverCity · Hanover, MN- Disclosed value
- Matching Grant $7,500; Low Interest Loan $92,500
- From agenda
- Approved
- Oct 24, 2019
The 30-second brief
The Hanover EDA approved a Standby Agreement with ByLine Bank for financing Big Bore BBQ Co., including a $92,500 low-interest loan and an already approved $7,500 matching grant. The loan will be repaid over 10 years with collateral, personal guarantees, and an interest rate tied to prime minus two, subject to floor and cap limits.
Byline Bank holds this financial services contract with City of Hanover. Its other public contracts on record include work for River Forest Park District and DuPage HSD 88.
Term as filed: Loan repayment monthly over a 10-year period.
See who signed off on this contract.
See who signed offFree account · 30-second setup · No credit card
Contract details
- Contract type
- Financial Services
- Amount
- Matching Grant $7,500; Low Interest Loan $92,500
- Document date
- October 24, 2019
- Term
- Loan repayment monthly over a 10-year period
- Vendor
- Byline Bank
- Agency
- City of Hanover
- Source document
- hanover_economic_development_authority_agenda_octo.pdf (Agenda)
Byline Bank's other public contracts
More City of Hanover contracts
Questions about this contract
Who was awarded the financial services contract by City of Hanover?
Byline Bank was awarded this financial services contract by City of Hanover, as recorded on October 24, 2019. The contract value is Matching Grant $7,500; Low Interest Loan $92,500.
How much is the Byline Bank contract with City of Hanover worth?
The Byline Bank contract with City of Hanover is valued at Matching Grant $7,500; Low Interest Loan $92,500, covering financial services work.
What type of contract is this?
This is a Financial Services contract, documented as a agenda record, structured as a not-to-exceed (ceiling) agreement.
Where was this contract approved?
This contract appears in hanover_economic_development_authority_agenda_octo.pdf (Agenda), dated October 24, 2019 from City of Hanover. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
Show 2 more questions
What other contracts does Byline Bank hold?
Byline Bank may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is City of Hanover currently buying?
Explore City of Hanover's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.