Loan Finances Home
by June 16, 1997 12:00 am 59 views
Patrick Demaree and his wife, Reba Pearl, received a $332,000 loan from the Bank of Bentonville on May 2.
The loan is secured with a house the couple is building at 12806 Arkansas Highway 112, between Cave Springs and Elm Springs.The home is on a two-acre lot along The Creeks golf course and should be completed next month.
The 30-year loan has an adjustable rate with a beginning rate of 7.6 percent.
Demaree is the owner of three local radio stations: KKEG-FM, KFAY-AM and KFAY-FM. He also owns two radio stations in Hot Springs and two in Searcy.