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Bookstore Loan Up for Debate Again by Galesburg City Council
A Galesburg man who's trying to start up his own bookstore will try again tonight.

The Galesburg City Council Monday evening will once again take up a proposed revolving loan applied for by radio D.J. Ben "Stone" Stomberg so that he can open up "Stone Alley Books and Collectibles" near Seminary and Main Streets.

Stomberg is asking for $15,000 from the city, but aldermen tabled the request two weeks ago. Several aldermen suggested they wanted to see more documentation from Stomberg before they gave the loan, and one alderman -- Third Ward Alderman Russell Fleming -- outwardly suggested that he couldn't support the loan feeling the business was going to fail.

Stomberg is projecting needing $40,000 to open his business. $10,000 of that would come from the city's first Business Innovation Grant, $15,000 from the proposed revolving loan, and the rest from a personal loan and assets already on hand.

The Galesburg City Council will, among other items, also hear the Financial Audit for the 2008 Fiscal Year when they convene at 7:30pm Monday inside council chambers at Galesburg City Hall.

For more on the council's original action on Stomberg's loan request, CLICK HERE.
06 14 09 by Newsroom
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