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EAST LIVERPOOL -- The Finance Committee for the East Liverpool Community Improvement Corporation (CIC) met Thursday to consider the application for a small business loan to Raymond Stephens (Chef Ray) for start-up costs at the 6th Street Cafeteria & Deli (formerly Brickers).
Stephens is requesting the loan to purchase new equipment to replace the outdated equipment that came with the cafe when he purchased it.
Stephens, who was not able to attend the meeting due to being ill, requested $50,000.
CIC Executive Director Bill Cowan said he talked to Stephens and told him the CIC currently does not have that to loan and Stephens said he would accept anything they could offer, that he was needing to replace a hood and a grill and $15,000 to $20,000 would help.
Multiple board members noted that Stephens has done a lot of good for the community through the opening of Chef Ray's Diamond Bar and Grill and purchasing the cafe which has led to more jobs in the downtown area. He has saved 17 jobs with the purchase of the cafe and created 34 new jobs with the opening of his restaurant.
Darlene Kinsey, East Liverpool Health District, noted that from working through the health department she knows that there was antiquated equipment at the location and the business, when still operated by the previous owner, was on the verge of having to close down for violations that were continuing. She also noted that most of the equipment Stephens is looking to purchase for the cafe are items that really need to be taken care of and she believes approving the loan would be a good investment.
Stephens currently has two loans totaling $60,000 and Cowan said he is currently and faithfully paying on those.
Following the Finance Committee meeting, the full board met to vote on the loan application. The board voted all-in-favor to approve a $20,000, three-year loan with 4 percent interest.
kgarabrandt@mojonews.com