In August 2014, the Foundation provided a $215,615 GCF-SSBCI loan to MG Alignment, LLC for the acquisition and renovation of a historic building located at 410 East Church Street in downtown Monroe. The completed project houses a boutique bed & breakfast inn and special events facility, Sparrow Hill Inn. The total project cost is $695,532. Sources of project financing include a $347,776 bank loan, the $215,615 GCF-SSBCI loan, a$62,598 loan from DCA, and $69,553 of Borrower’s equity participation.
Project Cost: $695,532 GCF Loan Amount: $215,615