An Edwardsville bank claims two people have failed to repay it more than $400,000 it lent to them.
The Bank of Edwardsville filed a lawsuit Aug. 12 in St. Clair County Circuit Court against John A. Bergfeld and James W. Best.
In its complaint, the bank alleges it lent a company called Strong Holding $420,550 on March 30, 2012. At the time, Bergfeld and Best had guaranteed repayment of the loan, according to the complaint.
Since then, Strong Holding has defaulted on the loan, the suit states. Bergfeld and Best also failed to make the required payments, the complaint says.
“Upon the above-described default by Strong Holding, the defendant became liable for all amounts due plaintiff as provided in the referenced promissory note, as of Aug. 8, 2013, those amounts being as follows: principal: $389,974.16, accrued interest: $8,339.18, late charges: $19,581.79 for a total of $417,895.13,” the suit states.
In addition to the money it claims it is owed, the bank seeks attorney’s fees and costs.
Donald L. Metzger of Metzger Law Offices in Edwardsville will be representing him.
St. Clair County Circuit Court case number: 13-L-421.
Bank of Edwardsville seeks more than $400K on loan repayment
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