Village to seek loan refinancing

GOODRICH — Village officials will shop around for a better interest rate on the Rural Development loan taken out through the U.S. Department of Agriculture in 2003.

The loan paid for the village offices.

The USDA recommended refinancing in an effort to reduce the 4.250 percent interest rate the village currently is paying, according to village Administrator Sheri Wilkerson.

About 22 years remain on the loan, which has an unpaid balance of about $819,074, Wilkerson said.

A lower interest rate could facilitate a quicker pay-off, she said. — L.R.