NAT on the upswing-pays off line of credit

NAT on the upswing-pays off line of credit

By Shellie Berg

By Shellie Berg

Staff Reporter

At the opening of Driving Miss Daisy on Friday, NAT Director Richard Raether announced the final payment of the $100,000 line of credit used for operating expenses.

The theater acquired the oustanding debt two years ago, “when we were in a pinch,” Raether said. “And that is a portion of our current outstanding debt.” She also said the theater’s board of directors did approve all indebtedness acquired under Gregg’s tenure.

Administrative Director Mary Beaver noted NAT obtained the credit during the time that William Gregg, producing artistic director, was employed there. After financial struggles were made public, he left the theater. “That is indeed while he was director,” she stated. She did not state if

She said NAT anticipated paying off the loan around this time. “It’s wonderful to pay that off in full,” Beaver stated.

Another loan for $245,000 is down to $227,000 used to consolidate other loans, and is being paid for with monthly payments. “We haven’t taken out any more loans,” she stated.

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