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Jul 15, 2026
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Madras Seeks to Reclaim $1.2M Loan

OBBM Network Editorial Staff
July 15, 2026

The city of Madras, Oregon, is seeking to reclaim a $1.2 million loan from Initiative Brewing, a company that received a combination grant and loan in 2024 to foster local job creation and business growth. However, the brewery closed its Madras location in May 2026.

Loan Repayment Efforts

David Clyne, interim city administrator for Madras, stated that the situation is complex and that all parties involved will need to make some concessions to reach a resolution. The city’s proposal includes acquiring the property back from Initiative Brewing.

The Madras Redevelopment Commission has a history of providing similar loans to businesses, with 25 loans issued and seven fully repaid. Initiative Brewing is one of two businesses that were not successful in the loan program.

Original reporting: KTVZ (Central Oregon) — read the source article.

OBBM Network Editorial Staff

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Editorial team behind OBBM Network — independent, hyper-local journalism syndicated through HyperLocalLoop and OBBM Network TV.

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