Pine River revolving loan interest to become more flexible

Pine River revolving loan interest to become more flexible

PINE RIVER — The Pine River City Council agreed, upon request from the Pine River Economic Development Committee, to make its revolving loan interest rates more flexible. Jay Cline represented the group at the regular council meeting Tuesday, March 11. Cline said the current rules link the interest rates to Wall Street Journal prime rates, currently 7.5%-8.5%. Cline asked if the council would consider allowing the interest rates to be lowered ba…