3.2. JFC 08-27-2019ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY
MICRO LOANS
Current Current 8/16/19
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 $160,545.25 Y
Heritage Millwork 12/22/2016 $100,000 3.00%60 $965.61 $77,038.73 Y
Patriot Converting 5/5/2016 $200,000 3.00%60 $3,593.74 $0.00
Ralphies#1 9/10/2013 $74,999 3.00%120 $724.20 $32,903.56 Y
Ralphies#2 8/28/2018 $19,175 3.00%60 $343.65 $15,871.18 Y
TOTAL MICRO LOANS $286,358.72 Micro Loan Fund 240
Distinctive Iron 3/3/2015 $126,000 2.03%60 $874.72 $90,060.73 Y
Scott Morrell LLC 8/6/2015 $200,000 2.00%60 $1,011.77 166,078.32 Y
Orluck 7/17/2018 $200,000 3.00%84 $2,642.66 171,723.74 Y
$427,862.79 DEED Jobs Incentive Loan Fund 242
Fund Cash Balances 08/16/19:
Micro Loan Fund - 240 $950,516.68
State DEED Jobs Incentive - 242 $84,303.89