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Council discusses Reno Opportunity Growth Fund

08-19-09 - The City council discussed a small business loan program called the Reno Opportunity Growth Fund. The loans are issued without council oversight, and today when the city settled on a defaulted loan with a fitness center business, they took a hard look at the program. Although 6 out of the 10 loans issued are either paid off or current, the council wasn't comfortable handing out $50,000 chunks of money at a time from a revolving fund without any oversight from the council. During this same discussion, it was revealed that Brickhouse Bakery was 'at risk' and Downtown Marketplace was having issues as well. Not good! If you care about these businesses like I do, then get down there and grab a fresh pastry and cofree :) I am a big big fan of Brickhouse, I hope they make it through this recession.

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Posted by: Tom - 8/19/2009 7:33:33 PM
I think the West Street market is a lot less successful than many people realize. I'm in there weekly and only the wine bar has consistant business. It doesn't surprise me at all that the bakery may be having trouble.

Posted by: urbanblog - 8/20/2009 1:02:34 AM
It's interesting to me, I don't know that I was necessarily aware that there is such a thing as the Opportunity Growth Fund. It's a good idea. Best of luck to the brickhouse and all the other businesses inside the market proper.

Posted by: Crystal - 8/20/2009 12:42:51 PM
This really sucks I like Brickhouse Bakery. They are a unique product in town, I don't understand why they are having difficulties?

Posted by: Kaseygirl - 8/20/2009 3:21:28 PM
You see this with so many of our little small businesses. People love them but don't frequent them enough to keep them alive. I agree with Mike, if you enjoy these places go there often! During these difficult economic times where you spend your money can make or break a business. If you want local shops, shop local shops!

Posted by: Justin - 8/21/2009 3:04:05 PM
Brickhouse is closing up after this weekend. I can't say I'm sad. Don't get me wrong, the service was always pretty friendly, but the quality of their goods was inconsistent at best, and at worst, not very good.

Posted by: Wiley_n_Reno - 8/21/2009 8:51:36 PM
The West Street Market was designed with the expectation of a near full Montage. That's a tough monkey wrench obstacle to overcome. Same with the Long's Drug /CVS store in the old Riverboat location. In the end it will all come to pass successfully.

 

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