Hall of Fame Resort Secures $25M for Construction
Mary Vanac, Cleveland Business Journal
Hall of Fame Resort & Entertainment Co. has signed a non-binding agreement for a bank loan of up to $25 million that could unlock more financing to help the company build its football-themed resort in Canton, Ohio.
“We are pleased to announce that the company has expanded its relationship with ErieBank, a division of CNB Bank, and entered into a non-binding term sheet for a senior secured loan facility,” Michael Crawford, the resort and entertainment company’s CEO, in a letter to shareholders posted to the company’s LinkedIn page.
“ErieBank is familiar with our business through its financing of our construction loan for the DoubleTree by Hilton in Downtown Canton, a relationship that has shown itself to be aligned with our strategic initiatives, and one we are excited to build upon with this quality lender,” said Crawford, who also is chairman and president of the Canton-based company.