3.2. JFC SR 06-15-2020ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY
MICRO LOANS
Current Current 6/11/20
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 $154,481.48 Y
Heritage Millwork 12/22/2016 $100,000 3.00%60 $965.61 $69,219.18 Y
Ralphies#1 9/10/2013 $74,999 3.00%120 $724.20 $26,411.45 Y
Ralphies#2 8/28/2018 $19,175 3.00%60 $343.65 $12,787.95 Y
TOTAL MICRO LOANS $262,900.06 Micro Loan Fund 240
Distinctive Iron 10/1/2019 $126,000 2.03%60 $1,050.07 185,270.76$ Y
Scott Morrell LLC 8/6/2015 $200,000 2.00%60 $1,011.77 158,673.24 Y
Orluck 7/17/2018 $200,000 3.00%84 $2,642.66 151,603.21 Y
$495,547.21 DEED Jobs Incentive Loan Fund 242
Fund Cash Balances 06/11/20:
Micro Loan Fund - 240 $896,148.37
State DEED Jobs Incentive - 242 $127,963.09