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Consider Micro Loan to Nicole's Finishing Touch Salon <br /> January 14,2008 EDA Meeting <br /> Page 2 of 2 <br /> circumstance,and contingent upon the applicant's full payment of the Micro Loan <br /> application fee. Business owner,Nicole Fox was encouraged to attend the EDA meeting. <br /> Action Requested <br /> The EDA is asked to consider making a recommendation to the City Council for approval <br /> of the application for a$25,000 Downtown Business Revitalization Program Micro Loan to <br /> Nicole's Finishing Touch Salon per the recommendation of the Finance Committee with the <br /> following terms: <br /> Rate 3% fixed <br /> Term 2 years <br /> Security Personal Guarantee <br /> Structure Direct loan from EDA <br /> Following the EDA's action, the recommendation will be forwarded to the City Council for <br /> final consideration and action. <br />