U.S. Sen. Charles Schumer announced last week $4.6 million in federal funding for Bread Alone, which is in the process of moving its commercial bakery headquarters from Boiceville to Lake Katrine. The business loan guaranteed through the U.S. Department of Agriculture will assist the company’s purchase of a 26,000-square-foot facility at 2105 Ulster Avenue, which will be converted into a bakery and retail outlet.
“This funding is the yeast that literally raises the dough, not only for Bread Alone, but for the local community as well,” said Schumer in a press release. “I applaud the USDA rural development program for making this pivotal investment in an importantHudsonValleybusiness and community partner like Bread Alone.”
According to Schumer’s office, the loan caries a 2 percent interest rate for the first two years, after which the rate would be set between 2.5 and 5 percent.
Nels Leader, Bread Alone’s vice-president and chief operating officer and son of business founder Dan Leader, said it’s important to clarify that Bread Alone has yet to put pen to paper to seal the deal. “The USDA approved the package, but we haven’t signed the paperwork yet,” Leader explained. “The option is on the table, but I don’t want the word on the street to be that it’s signed, sealed and delivered because that’s not accurate yet.”
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