3.2. JCF 06-25-2019ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY
MICRO LOANS
Current Current 6/20/19
Loan Loan Interest Term Monthly Principal
Borrower Date Amount Rate (Months)Payment Outstanding Current
Die Concepts 6/3/2016 $185,200 2.00%60 $936.90 $161,880.46 Y
Heritage Millwork 12/22/2016 $100,000 3.00%60 $965.61 $78,579.35 Y
Patriot Converting 5/5/2016 $200,000 3.00%60 $3,593.74 $0.00 Y
Ralphies#1 9/10/2013 $74,999 3.00%120 $724.20 $34,182.64 Y
Ralphies#2 8/28/2018 $19,175 3.00%60 $343.65 $16,478.64 Y
TOTAL MICRO LOANS $291,121.09 Micro Loan Fund 240
Distinctive Iron 3/3/2015 $126,000 2.03%60 $874.72 $91,502.14 Y
Scott Morrell LLC 8/6/2015 $200,000 2.00%60 $1,011.77 167,544.60 Y
Orluck 7/17/2018 $200,000 3.00%84 $2,642.66 178,330.73 Y
$437,377.47 DEED Jobs Incentive Loan Fund 242
Fund Cash Balances 06/20/19:
Micro Loan Fund - 240 $939,928.46
State DEED Jobs Incentive - 242 $77,518.91