Investors group saves Waterloo Elks Lodge from foreclosure - KWWL - Eastern Iowa Breaking News, Weather, Closings

Investors group saves Waterloo Elks Lodge from foreclosure

Posted: Updated:
WATERLOO (KWWL) -

The Elks Lodge in Waterloo will soon be under new ownership thanks to benefactors who want to grow the club.

A group of private investors called "Friends of the Elks" will take over the mortgage of the downtown Waterloo building - saving it from foreclosure.

Community National Bank had started foreclosure procedures this summer on the Elks Lodge after the club couldn't make payments. Twelve investors, who are all Elks Club members, stepped forward to assume the debt and give the Elks a low-interest five-year loan.

The price has not been disclosed.

The club will see a lower interest rate for five years before the two group can renegotiate the deal.

The investors say they want to grow the club so that it's financially healthy again.

  • NEWSNEWSMore>>

  • In historic change, Boy Scouts to let girls in some programs

    In historic change, Boy Scouts to let girls in some programs

    Wednesday, October 11 2017 1:17 PM EDT2017-10-11 17:17:46 GMT

    In a historic change, the Boy Scouts are announcing plans to admit girls into the Cub Scouts starting next year and to establish a new program for older girls using the same curriculum as the Boy Scouts. 

    More >>

    In a historic change, the Boy Scouts are announcing plans to admit girls into the Cub Scouts starting next year and to establish a new program for older girls using the same curriculum as the Boy Scouts. 

    More >>
  • Governor Reynolds speaks with President Trump about renewable fuels, health care

    Governor Reynolds speaks with President Trump about renewable fuels, health care

    Wednesday, October 18 2017 12:49 PM EDT2017-10-18 16:49:40 GMT
    Gov. Reynolds speaks with President Trump over the phone Wednesday (Twitter/@IAGovernor)Gov. Reynolds speaks with President Trump over the phone Wednesday (Twitter/@IAGovernor)

    Governor Kim Reynolds spoke with President Donald Trump over the phone this morning about the state of health care in the United States, as well as renewable fuels.

    More >>

    Governor Kim Reynolds spoke with President Donald Trump over the phone this morning about the state of health care in the United States, as well as renewable fuels.

    More >>
  • Local family affected by Opioid epidemic hoping to help others

    Local family affected by Opioid epidemic hoping to help others

    Tuesday, October 17 2017 7:11 PM EDT2017-10-17 23:11:10 GMT

    An eastern Iowa family is giving us an emotional perspective on the destructive toll that drug abuse can take. 

    More >>

    An eastern Iowa family is giving us an emotional perspective on the destructive toll that drug abuse can take. 

    More >>
Powered by Frankly