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Fremont radiator manufacturer not meeting loan standards

FREMONT, Neb. (AP) — The city of Fremont has declared an auto radiator manufacturer in default on a $600,000 loan garnered through federal stimulus money.

Local media says that to get the loan, Hero Automotive agreed last year to create at least 15 full-time jobs paying at least $10 an hour and keep those jobs for three years. It also had to provide health insurance, covering at least 50 percent of that cost.

The company was granted a six-month extension last year to meet the minimum requirements, and in January told the newspaper it had 15 full-time employees.

But a worker reported to the city in February that the company was not meeting minimum requirements.

City Attorney Paul Payne says the company had only nine full-time workers on June 15.

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