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Consider Loan Extension Request: MN Fabrication&Machine <br /> January 10,2005,EDA Meeting <br /> Page 2 of 2 <br /> • was to recommend that the EDA approve a two-year extension of the December 2001 <br /> $50,000 Micro Loan awarded to MN Fabrication&Machine, Inc. with the following terms: <br /> • Interest rate of 6.5% <br /> • Monthly payments of$400 <br /> Action Requested <br /> Staff requests that the EDA consider approval of a two-year extension of the December 2001 <br /> $50,000 Micro Loan awarded to MN Fabrication&Machine, Inc. at an interest rate of 6.5% <br /> and monthly payments of$400, effective January 1,2005. The proposed amortization <br /> schedule is attached. <br /> A company representative will be present at the EDA meeting to answer questions. <br /> • <br />