Ayer IDFA Votes Unanimously to Defer Loan Payments 120 Days for All Borrowers

AYER -- April 24, 2020, Ayer's Industrial Development and Finance Authority voted unanimously to grant a 120-day payment deferral to all four of its active borrowers amid the COVID-19 pandemic. The board, chaired by Brian Anderson, approved forbearance for the Neshoba Club, the Paige Moore building owned by Calvin Moore, Kevin Baker's building facade loan at 9 Washington Street, and Applewood Controls at 13 Brock Povett Road, with all deferred payments to be added to the end of existing loan terms. Anderson said he had originally proposed 60 days but concluded that bar and restaurant operators in particular would need more time to ramp back up. The authority's administrator said he would notify banking partner Main Street Bank of the official vote to ensure no borrower is reported delinquent to credit agencies during the deferral period.