Business

BB&T to make $6 million loan for fire station, Main Street work

By Bill Moss, Published: March 7, 2013

BB&T won a contract to finance Hendersonville's fire station construction and other city projects.

BB&T was the only bank that responded among seven the city invited to bid on the $6 million loan. BB&T will make the loan at 3.49 percent for up to 20 years.
City finance director Jim Rudisill described BB&T as "competitive and fair."
"Although I am disappointed that we did not receive more bids, I am not disappointed that BB&T was the bank that submitted the only bid," Rudisill said, noting that the bank had financed more than half the city's capital projects in recent year, including the existing fire station, water plant renovation, a garbage truck and several water line projects.
The $6 million loan will finance the new fire station on Sugarloaf Road, a new fire truck and the Main Street renovation from Fifth Avenue to Seventh Avenue.