Magic Fund Extends Loan Deadline
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| 11/20/2009 |
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| Minot`s Magic Fund committee approved an extension on a $500,000 loan for a company that manufactures air trailers. Heliplane of Minneapolis plans to make air cargo trailers in Minot. The trailers would be towed by aircraft and guided by an unmanned aerial control system. Heliplane says it experienced a delay when the owner of the company making its rotor system died, bringing the family owned business to a halt. Weather also has delayed the ability to test the prototype. Stipulations of the Heliplane loan said the company must successfully test their product by Saturday, but that wasn`t going to happen. "The bottom line is we are ready to go. We have just been a little delayed but we are excited about this. We just need to have a little time," says Thomas Dasher, CFO, Heliplane. The company now has until December 31st to meet their deadline. |
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