NORWALK, OH- The owners of Norwalk Custom Order Furniture were granted a $225,000 revolving loan fund agreement from the Norwalk City Council.
The 2% fixed-interest-rate loan will go toward the purchase of new equipment, including CNC routers, according to the Sandusky Register. The new equipment will reportedly allow the company to handle custom orders more efficiently.
Nowalk Furniture avoided permanent closure when a group of one dozen investors, backed by a $2 million loan from the Ohio Department of Development, purchased the furniture plant. The department also arranged a $718,916 job creation tax credit with the hope of generating 260 full-time jobs within three years.
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