On March 4th, getting a $1.9m loan from the SBA with a fixed 3.25% 30yr fixed payment that doesn’t start for 2 years old news??? Hahahahahahahaha
ITEM 1.01. Entry into a Material Definitive Agreement
On March 4, 2022, pursuant to a collateralized thirty (30) year promissory note (the “Note”) with the Small Business Administration (“SBA”), our wholly owned subsidiary, Utility Management and Construction, LLC (the “Borrower”), received loan proceeds of $1,915,200 from the SBA. The Note provides for principal and interest payments at 3.25% interest per annum with the Borrower obligated to make monthly payments beginning on February 28, 2024.
