Mandir signs a new loan with Wells Fargo; devotees are now 'owners' too

Feb 29, 2012

The Hindu Society of Minnesota is pleased to inform you that a new loan with Wells Fargo Bank was settled  today (Wed – Feb 29th). The new loan puts the Mandir in significantly better terms.

 

As of now, some 60 devotees have provided loans to the Mandir with a simple annual interest rate of 4%. This amounts to almost 1/3 of the total financing.

 We wish to recognize Eric Hendrickson and other staff at Wells Fargo who worked with the Mandir during the last 3 months and made this possible.

Byron Byraiah, Sharon Ruane, Eric Hendrickson

 

 

On behalf of the Mandir, Byron Byraiah, the current TEC chair signed the documents

 Byron, Narender,Anandi,Nayana,Eric,Yogini,Bala, Ram

 

Our Temple marked another milestone and created history today. Today we have a solid goal of handing over the Temple Debt Free to the next Generation sooner than we anticipated. 

 It was indeed an honor to work with the finance team who spent countless hours to crunch the numbers and the 60 families who selflessly came forward to loan the money to make this happen.  What a Remarkable accomplishment.    Thank You

Naina Varanasi

                                     President 

 

    Executive Committee.